by David Newsome, Senior Legal Counsel, KBR | Jul 9, 2013 | Audits & DCAA
To say that there is a crisis surrounding the closing of government contracts, especially large cost-type contracts held by large government contractors, would certainly not be an understatement. [i] Closing a contract essentially requires verification that the goods...
by Members & Staff | Jan 22, 2013 | Accounting, Audits, Cost, and Pricing, 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...
by David Capitano, Instructor/Cost Accounting Consultant | Nov 8, 2012 | The Clause Column
Applicability: This FAR clause specifies the payment terms for Time-and-Materials (T&M) and Labor-Hour (LH) contracts that were not acquired using FAR Part 12 (commercial items). The clause is included in solicitations and contracts when a time-and-materials or...