- Cover
- Title Page
- Copyright
- About the Author
- Dedication
- Acknowledgments
- Table of Contents
- Preface
- Chapter 1. Federal Government Procurement Methods
- Chapter 2. Types of Government Contracts
- Government Selection of Contract Types
- Fixed-Price Contracts
- Firm-Fixed-Price Contract
- Fixed-Price-Incentive Contract
- Incentives Contract
- Firm-Fixed-Price with Economic Adjustment Contract
- Fixed-Price Redeterminable Contract
- Firm-Fixed-Price Contract with Successive Targets
- Fixed-Price, Level-of-Effort Contract
- Fixed-Price, Award-Fee Contract
- Cost-Reimbursement Contracts
- Cost-Sharing Contract
- Cost-Reimbursement-Only Contract
- Cost-Plus-Fixed-Fee Contract
- Cost-Plus-Incentive-Fee Contract
- Cost-Plus-Award-Fee Contract
- Other Contract Types
- Time-and-Materials Contract
- Labor-Hour Contract
- Indefinite-Delivery Contract
- Letter Contract
- Basic Agreement
- Basic Ordering Agreement
- Unauthorized Contract Types and Variations
- Other Transactions
- Contract Type and Potential Financial Reward
- Chapter 3. Accounting System Requirements
- Basic Record Keeping
- Internal Controls and Written Policies and Procedures
- Managing Contract Costs
- Allocating Costs
- Direct and Indirect Costs
- Overhead Costs
- Service Centers
- General and Administrative Costs
- Consistent Application
- Establishing a Cost Structure
- Monitoring Indirect Costs
- Other Cost Accounting Concepts
- Credits
- Chapter 4. Cost Allowability
- Origin of Government Contract Cost Principles
- Applicability of Government Cost Regulations
- FAR Concept of Total Cost
- Credits
- Incurred Costs
- Allowability of Costs
- Reasonableness
- Allocability
- Contract Terms/Advance Agreements
- Indirect Cost Pools
- Directly Associated Cost
- Cosmetically Low Rates
- Segregation of Unallowable Costs
- Chapter 5. Principles—Selected Costs
- Generally Unallowable Costs
- Public Relations and Advertising Costs (31.205-1)
- Bad Debts (31.205-3)
- Contributions or Donations (31.205-8)
- Entertainment Costs (31.205-14)
- Fines, Penalties, and Mischarging Costs (31.205-15)
- Interest and Other Financial Costs (31.205-20)
- Lobbying and Political Activity Costs (31.205-22)
- Losses on Other Contracts (31.205-23)
- Organization Costs (31.205-27)
- Costs Related to Legal and Other Proceedings (31.205-47)
- Goodwill (31.205-49)
- Costs of Alcoholic Beverages (31.205-51)
- Asset Valuations Resulting from Business Combinations (31.205-52)
- Excessive Pass-Through Costs (31.203(i))
- Costs Related to Human Resources
- Compensation for Personal Services (31.205-6)
- Employee Stock Ownership Plans (ESOPs) (31.205-6(q))
- Employee Morale, Health, Welfare, Food Service, and Dormitory Costs and Credits (31.205-13)
- Professional and Consulting Costs (31.205-33)
- Recruitment Costs (31.205-34)
- Relocation Costs (31.205-35)
- Trade, Business, Technical and Professional Activity Costs (31.205-43)
- Training and Educational Costs (31.205-44)
- Travel Costs (31.205-46)
- Costs Related to Physical Resources
- Cost of Money (31.205-10)
- Depreciation (31.205-11)
- Gains and Losses on Disposition of Depreciable Property or Other Assets (31.205-16)
- Idle Facilities and Idle Capacity Costs (31.205-17)
- Maintenance and Repair Costs
- Manufacturing and Production Engineering Costs (31.205-25)
- Plant Reconversion Costs (31.205-31)
- Rental Costs (31.205-36)
- Special Tooling and Special Test Equipment Costs (31.205-40)
- New Business-Related Costs
- Independent Research and Development and Bid and Proposal Costs (31.205-18)
- Selling Costs (31.205-38)
- Miscellaneous Costs
- Contingencies (31.205-7)
- Economic Planning Costs (31.205-12)
- Insurance and Indemnification (31.205-19)
- Material Costs (31.205-26)
- Other Business Expenses (31.205-28)
- Patent Costs (31.205-30)
- Precontract Costs (31.205-32)
- Royalties and Other Costs for Use of Patents (31.205-37)
- Taxes (31.205-41)
- Termination Costs (31.205-42)
- Environmental Cleanup Costs
- Restructuring Costs (DFARS 231.205.70)
- Cost of Government Shutdowns
- Chapter 6. Cost Accounting Standards
- Original CAS Legislation
- Basics of Public Law 91-379
- CASB Operating Policies
- After The Demise of The Original CASB
- Basic CAS Requirements
- Price Adjustments
- Covered Contracts
- Exempt Contracts
- Waivers of CAS Coverage
- CAS Steering Committee and Working Group
- The Standards
- Standard 401: Consistency in Estimating, Accumulating, and Reporting Costs
- Standard 402: Consistency in Allocating Costs Incurred for the Same Purposes
- Standard 403: Allocation of Home Office Expenses to Segments
- Standard 404: Capitalization of Tangible Assets
- Standard 405: Accounting for Unallowable Costs
- Standard 406: Cost Accounting Period
- Standard 407: Use of Standard Costs For Direct Material and Direct Labor
- Standard 408: Accounting for Costs of Compensated Personal Absences
- Standard 409: Depreciation of Tangible Capital Assets
- Standard 410: Allocation of Business Unit General and Administrative Expenses to Final Cost Objectives
- Standard 411: Accounting for Acquisition Costs of Materials
- Standard 412: Composition and Measurement of Pension Cost
- Standard 413: Adjustment and Allocation of Pension Cost
- Standard 414: Cost of Money As an Element of the Cost of Facilities Capital
- Standard 415: Accounting for the Cost of Deferred Compensation
- Standard 416: Accounting for Insurance Costs
- Standard 417: Cost of Money As an Element of the Cost of Capital Assets Under Construction
- Standard 418: Allocation of Direct and Indirect Costs
- Standard 420: Accounting for Independent Research And Development (IR&D) and Bid and Proposal (B&P) Costs
- Disclosure Statement
- Dollar Threshold of Contract Awards For Determining Filing Requirements
- Revisions to Disclosure Statements
- Exemptions
- Review and Approval of Disclosure Statement
- Detailed Requirements of Disclosure Statement
- Chapter 7. Developing Cost Estimates for Proposals
- Chapter 8. Contract Price Negotiation and Profit Guidelines
- Chapter 9. Truth in Negotiations
- Applicability of The Law
- Basic Coverage
- Covered Contracts
- Prohibitions on Obtaining Cost or Pricing Data
- Adequate Price Competition
- Commercial Items
- Waivers
- Requiring Information Other Than Cost or Pricing Data
- Price Reductions
- Special Subcontract Considerations
- Government Burden of Proof
- Cost or Pricing Data
- Available Data
- Submission of Data
- Reliance
- Price Increase
- Setoffs
- The Role of a Certificate
- Chapter 10. Contract Administration
- Responsibility for Contract Administration and Audits
- Contract Administration Duties
- Contract Audits
- Financial Aspects
- Contract Payments
- Provisional or Interim Billing Rates
- Final Indirect Cost Rates
- Cost-Sharing Rates and Ceilings on Indirect Cost Rates
- Forward-Pricing Rate Agreements
- Quick-Closeout Procedure
- Disallowing Costs After Incurrence
- Performance Aspects
- Suspension of Work, Stop-Work Orders, and Government Delay of Work
- Past Performance Evaluations
- Contract Modifications
- Subcontracting
- Government Property
- Earned Value Management Systems
- Termination for Convenience
- Ethics
- Chapter 11. Government Contract Audits
- Accounting System Review
- Basic Record Keeping
- Internal Controls and Written Policies and Procedures
- Payment Requests
- Limitation of Cost Clause
- Estimating System Review
- Organizational Relationships
- Review Requirements
- Make-or-Buy Decisions
- Updating Cost or Pricing Data
- DOD Estimating System Requirements
- Labor Recording System Audit
- Risk Assessment
- Employee Interviews
- Audit Report
- Procurement System Review
- Compensation System Audit
- Reasonableness of Compensation
- Uncompensated Overtime
- Price Proposal Review
- Developing Cost Estimates
- Auditor Approaches
- Incurred Cost Audit
- Labor Costs
- Material and Subcontract Costs
- Indirect Costs
- Other Direct Costs
- Postaward Review (Defective Pricing)
- Audit Emphasis
- Applicability of the Truth in Negotiations Act
- Price Reduction
- Fraud in Defective Pricing
- Audit Techniques
- Cost Accounting Standards
- Disclosure Statement
- Changes in Cost Accounting Practices
- Contract Termination Audit
- Equitable Contract Price Adjustment Audit
- Financial Capability Audit
- Operations Audit
- Material Management And Accounting System
- DCAA Contract Audit Manual
- Acronyms
- Index
Acknowledgments
The author would like to thank Margaret Worthington, CPA, and Carl Ford for their thorough and careful review during the development of this book. Their insightful and pertinent comments proved invaluable to the completeness and accuracy of the final product.
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