The CASB DS-1 is the Cost Accounting Standards Board Disclosure Statement No. 1. It is a mandatory federal filing for U.S. government contractors. Any contractor with a covered contract or subcontract over $50 million must file this 42-page form to document their cost accounting practices and show compliance with Cost Accounting Standards (CAS).
Federal contractors and subcontractors whose awards trigger CAS coverage must submit the DS-1 disclosure statement. This includes defense contractors, aerospace companies, research organizations, and other firms performing work under U.S. federal procurement contracts. An initial filing is required at contract award. A new filing is required whenever the contractor changes its cost accounting practices.
The DS-1 form documents how a contractor tracks and allocates direct and indirect costs across business units and government contracts. Key areas include material cost identification, labor accounting, overhead allocation bases, depreciation methods, and home office expense allocation. Federal auditors use the disclosure statement to verify that actual costs match the methods the contractor disclosed at contract award.
Related forms available on FormsPal: Disclosure Statement, Subcontractor Agreement, and Federal Contract forms.
| Question | Answer |
|---|---|
| Form Name | CASB DS-1 Disclosure Statement |
| Form Length | 42 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 10 min 30 sec |
| Filing threshold | Covered contracts over $50 million |
| Governing regulation | FAR Part 9903, CAS |
| Other names | casb form ds 1, casb disclosure statement, cas disclosure statement template, disclosure statement |