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FAR 52.216-7, Allowable Cost and Payment (Part 2 of 2)

by David Capitano, Instructor/Cost Accounting Consultant | Mar 20, 2013 | The Clause Column

Applicability: This FAR clause is incorporated in cost reimbursement contracts and Time-and-Materials (T&M) contracts for other than commercial items. For T&M contracts, the clause only applies to the part of the contract that reimburses materials on the basis...

GAO Recommends Little Relief to Incurred Cost Submission Backlog

by Members & Staff | Jan 22, 2013 | Accounting, Audits & DCAA

Guest Authors: Capital Edge Consulting (http://capitaledgeconsulting.com/): The recent GAO report on the backlog of audits of Incurred Cost Proposals is unfocused.  The conclusion highlights the fundamental issue at hand in the statement, “DOD has fallen far behind in...

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