Did ya know . . . ?

A cost will be deemed reimbursable or ”allowable” under a cost reimbursement type contract provided it complies with all of the following 5 requirements:

    • Reasonability
    • Allocability
    • CAS Board standards and/generally accepted accounting principles
    • Terms of the contract
    • Cost principles at FAR 31.205

 FAR 31.201-2.

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