Time to Rethink Your Incurred Cost Submission

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Now that the 2013 year-end is closed and audited financial statements are being issued it’s time to begin the preparation of your incurred cost submission. Contractors need to rethink their approach to submitting an adequate ICS on time and since DCAA has reassessed their process so should contractors.

Contractors that have cost reimbursement or time & material contracts that contain the Allowable Cost & Payment Clause, FAR 53.216-7, are required to file an incurred cost submission (ICS) 180 days after your company’s year-end. That means that June 30th many contractors have a requirement to submit their complex proposals. For …read more

Read more here: Government Contracting

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Aronson LLC has been thinking ahead for its clients for more than 50 years. Aronson’s construction, real estate, government contracting, nonprofit, technology and private industry experts provide innovative audit, tax, and consulting services that help its clients move to the next level. From start-up to exit strategy, Aronson works with companies throughout the entire business lifecycle by proactively identifying opportunities and addressing challenges so that clients are able to focus on their core business. Aronson shows companies how to rethink everything to be more profitable, more competitive and better prepared for the future.

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