All companies with US Federal Contracts are at some level subject to the Contract Cost Principles and Procedures established in the Federal Acquisition Regulation (FAR) Part 31.
What does this mean to you? If you have a proposal or contract subject to cost analysis or cost determination, your accounting system’s ability to estimate, accumulate and allocate costs must meet the principles and procedures set forth in FAR Part 31. Not to do so can be very costly.
TD Government Solutions (TDGS) assist contractors in:
- Evaluating their cost accounting system for compliance to FAR and CAS (if applicable)
- Analyzing Allowability, Allocability, and Reasonableness of cost incurred
- Confirm that indirect rates reflect cost accurately and optimize cost recovery
- Designing and implementing compliant cost accounting methodologies
- Prepare and submit Incurred Cost Proposals for those with Flexible Price contracts
- Preparing for and responding to audits
- Proposal evaluation, cost or price analysis