Do you have approved provisional billing rates for your interim billing and financing on your U.S. government contracts? The contract clause in the Federal Acquisition Regulation (FAR) 52.216-7, Allowable Cost and Payment, is included in your cost reimbursable contracts. Paragraph (e) of this clause provides that:Read More
Documentation can be challenging. A final rule was published in December of 2009 that revised the FAR cost principle on Travel Costs (FAR 31.205-46). The revision replaced the language “lowest customary standard, coach, or equivalent airfare” with “lowest priced airfare available to the contractor.”Read More
Are your proposed costs for U.S. government competitive reimbursable costs realistic? If not, then you may find that the U.S. government source selection officials will unilaterally adjust your proposed costs to what they believe is the most probable cost based on their evaluation.Read More
Efficient and effective execution of duties is dependent on a well-trained staff. However, there are some training and training-related costs that are not allowable. Know these rules to maximize recovery, avoid penalties and preclude findings of accounting system inadequacy.Read More
Are you compliant with your billing requirements under your U.S. government cost-reimbursable contracts? Federal Acquisition Regulations (FARs) provide for inclusion of the contract clause in FAR 52.216-7, entitled Allowable Cost and Payment, in cost-reimbursement contracts. This clause provides for the government to make payments to you when requested as the work progresses.Read More
Are travel and attendance costs to conventions an allowable claim? Can your business include the expense of sponsoring a conference in its claimed indirect expense pool? It all depends on the nature and purpose of the event.Read More
Government auditors evaluate the adequacy of a contractor’s internal controls to provide a basis for establishing the scope of subsequent audits of cost representations. The internal controls are those attributes that, through the normal course of day-to-day business, result in either the prevention or timely detection of any errors or irregularities.Read More
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