Incurred Cost Submissions: Contract Briefs

At the end of a defined accounting period, federal government contractors must submit actual costs incurred to DCAA.  The intention of this process is for DCAA to review costs claimed to ensure they are allowable, allocable, and reasonable per FAR 31, as well as within the terms of their respective contracts.  DCAA will discuss requirements for the annual submission and what DCAA considers to be elements of an adequate submission.  This training provides an overview of the  DCAA Incurred Cost Electronic (ICE) model, which provides contractors with a standard user-friendly package to compile their financial data.  DCAA will also discuss its adequacy review process and means of how they select submissions for audit.