Incurred Cost Submissions Due

By May 30, 2018 News No Comments

Do you have the clause FAR 52.216-7 “Allowable Cost and Payment” in any of your contracts? If you do, you have a requirement to prepare an Incurred Cost Submission for your company and submit to your local DCAA office by June 30th, 2018. Typically, this FAR clause is incorporated in cost reimbursable contracts and Time-and-Materials (T&M) contracts that are direct to the government or a flow-through from a prime contractor. A fixed price contract may also have a cost reimbursable element(s) so be sure to check all your contracts for this clause that triggers the requirement for submission.  If you discover that you do have the requirement and would like help in the preparation or review of the submission, we’d be happy to help with that. Please contact Michelle Jenkins at mjenkins@anglincpa.com and we can get you on your way to compliance!