Posts Tagged ‘Government Contracts Accountant’
The GovCon’s Guide to DCAA Incurred Cost Submissions
Summary of Keypoints An Incurred Cost Submission (ICS) is a mandatory annual requirement for contractors with cost-reimbursable or T&M contracts, used by DCAA to reconcile provisional indirect rates with actual costs and establish final allowable rates under FAR 52.216-7. Timely and accurate ICS filing protects cash flow and credibility, while late or inadequate submissions can…
Read MoreWhy is Using a Government Contracts Accountant Important?
Summary of Keypoints Government contracting requires specialized accounting expertise: Compliance with CAS, FAR, DFARS, and agency-specific rules creates financial complexity that traditional accounting alone cannot manage effectively. A Government Contracts Accountant (GCA) focuses on compliance and cost recovery: GCAs specialize in indirect rate structures, audit preparation, forward pricing rate proposals, and maintaining systems that meet…
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