The calendar year ended December 31st and you are closing your books and gathering information for your incurred cost submission that is due June 30th. There is one more requirement you should consider that may have been overlooked. Does your company meet the requirement to input independent research and development (IR&D) costs into the Defense Technical Information Center (DTIC)?
Lynne Nalley, CPA
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Recent Posts
Topics: Compliant Accounting Infrastructure, Incurred Cost Proposal Submission (ICP/ICE), Cost Accounting Standards (CAS)
Prime contractors must award contracts to responsible subcontractors. One of the required flowdowns from a prime to a subcontract is FAR 52.209-6, Protecting the Government's Interest When Subcontracting with Contractors Debarred, Suspended, or Proposed for Debarment. This flowdown is required when the solicitation or contract exceeds $35,000 but is not required when purchasing commercially available off the shelf (COTS) items. The purpose of the clause is to protect the government. A contractor that is debarred or suspended is referred to as an excluded contractor.
Topics: DFARS Business Systems, Contractor Purchasing System Review (CPSR)
DFARS Class Deviation 2020-O0021 Revision
On January 15, 2021, the Principal Director at Defense Pricing and Contracting (DPC) issued a memorandum on the CARES Act Section 3610 Reimbursement Requests, DFARS Class Deviation 2020-O0021, Revision 2. This memorandum revises and supersedes the DFARS Class Deviation 2020-O0021 Revision 1 issued on October 14, 2020. The only revision is to extend the period for which paid leave must be taken from March 27, 2020 through December 11, 2020 to March 27, 2020 through March 31, 2021. The remainder of the memorandum remains unchanged and details are included in Redstone GCI’s blog.
Topics: Compliant Accounting Infrastructure, Incurred Cost Proposal Submission (ICP/ICE), COVID-19
What is a Contract Brief?
A contract brief is a document which identifies information about the contract, contract administration representatives and significant contract terms and conditions.
Topics: Compliant Accounting Infrastructure, Incurred Cost Proposal Submission (ICP/ICE)
Our Commercial Item Expert, Lynne Nalley, discusses and clarifies common questions and issues associated with commercial items and Commercial Item Determinations (CID).
Topics: Contractor Purchasing System Review (CPSR), Vlog, Commercial Item Determination
While the government promotes full and open competition, and competition is the preferred method of subcontracting, there are situations where the contractor uses a “sole source” or a “single source” when awarding a subcontract/Purchase Order (PO). There is a difference between a sole source and a single source award.