The Government Purchase Control
can sometimes seem like there are unlimited conditions to adhere to when
working with the Government Govt. If your organization’s contracts consist of
FAR stipulation 52.216-7 (Allowable Price and Payment), then your company needs
to be up to rate on your incurred expenses. That means your Contracting Officer
will need to get an indirect cost rate submission that suggests indirect prices
to mirror your company’s real cost experience.
Unallowable cost accounting is not qualified to get compensation
from the government for two reasons. Either the activity or function is
prohibited from compensation by federal rules, or the transaction/item being
bought is prohibited.
It’s that time of the season,
guides are shut, tax information has (maybe) been sent to the CPAs and you are
ready to start a new season. However, as a government specialist with
cost-reimbursable contracts, for the next 180 days, a cloud known as the
incurred cost submission is emerging overhead. Will this cloud emerging become
a magic surprise or wonderful clear skies?
The incurred cost submission has
many titles.
Of course in the government realm
there means for everything and the incurred cost submission is no exemption.
DCAA uses the ICE Design which is short for Incurred Price Digitally Design. Or
ICEs which is Incurred Price Digital Submission. Even Incurred Price Statements
have been used by DCAA when mentioning the incurred cost submission. Some in
the government contract market will relate to it as the ICS significance the
Incurred Price Submission or Incurred Price Offer simply as ICP. It’s all the
same. The ICE, ICEs, ICS, ICP is a succeed worksheet that provides companies
with a standard electronic package to assist in planning appropriate and
adequate incurred cost submission
and consequently in supporting auditors adhere to your (and every other
contractor) submission.
