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Can Small Contractors Handle Incurred Cost Submissions Alone?

 

Those involved in federal contracts may have heard the acronym “DCAA” on numerous occasions. How does DCAA evaluate contractor financials and what are the primary criteria for accreditation? The Incurred Cost Submission (ICS).



Let me tell you, it's not a walk in the park. Federal contractors must produce an annual multi-schedule report, the ICS, as part of their cost-reimbursement contracts. Designed to ensure transparency and prove reasonable, allowable, and allocative costs are justified.

Sound complex? That's because it is. Many contractors, particularly those with smaller workloads, are overwhelmed by data entry, compliance regulations, and deadlines.

This is where the right guidance comes in handy. Being aware of the costs that are eligible for exemptions, the calculation of indirect rates, and the correct completion dates are essential to remaining audit compliant.

Errors in your submitted expenses can result in delays, audits, or the loss of contracts.

There are alternative methods for doing it without assistance.

The responsibility falls on DCAA Consulting. Having extensive experience in DCAA compliance, our experts work with government contractors to create, review, and submit Incurred Cost Proposals. We take pride in this fact. Our approach is simple, and we want you to know that your submission is not only finished but accurate.'".



When the stakes are so high, don't let it be a game-changing opportunity. Count on the expertise of dcaa consulting to ensure clear compliance.