Title 48 – FEDERAL ACQUISITION REGULATIONS SYSTEM Chapter 99 – COST ACCOUNTING STANDARDS BOARD, OFFICE OF FEDERAL Subchapter B. 48 CFR, Pt TITLE FEDERAL ACQUISITION REGULATIONS SYSTEM AND COST ACCOUNTING STANDARDS PART COST ACCOUNTING. interpretations indicated thereto contained in 48 CFR , in effect on the date of award of this subcontract or, if the Seller has submitted cost or pricing data.
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Thereafter, any covered contract awarded in the same cost accounting period must also be subject to full CAS coverage. Home office expense or function.
The data which are required to be disclosed by educational institutions are set forth in detail in the Disclosure Statement Form, CASB DS—2, which is illustrated below:. Standard costs may be used for estimating, accumulating, and reporting costs of direct material and direct labor only when all of the following criteria are met:. This requirement shall apply only to negotiated subcontracts in excess of the Truth in Negotiations Act TINA threshold, as adjusted for inflation 41 U. The Company does not recognize a liability for vacation pay at December 31 because an employee must be employed on January 1 to be eligible.
48 CFR Part 9904 – COST ACCOUNTING STANDARDS
However, property records are maintained, and such records are retained for 3 years after disposition of an asset in groups by year of disposition. This is a function of cft appropriate procurement or reviewing authority. Prior to making any equitable adjustment under the provisions of paragraph a 4 i of the contract clause set forth in No transfer of these projects and no further work in this area is planned.
In the absence of a finding pursuant to paragraph c of this subsection that a compliant change is desirable, no agreement may be made with regard to a change to a cost accounting practice that will crf in the payment of aggregate increased costs by the United States.
This term includes both direct assignment of 99904 and the reassignment of a share from an indirect cost pool. The most serious questions pertain to such percentage factors which are not supported by the contractor with accounting, statistical, ctr other relevant data from past experience, nor by a program to accumulate actual costs for comparison with such percentage estimates.
Usage of the milling machine can be measured readily based on hours of operation. The contractor’s business changes substantially such that there are significant new projects which have only insignificant quantities of material.
Contractor accounts for manufacturing overhead by individual items of cost which are accumulated in a cost pool allocated to final cost objectives on a direct labor base. However, a contractor proposal to expense restructuring costs for a specific event in a current period is also acceptable when the Contracting Officer agrees that such treatment will result in a more equitable assignment of costs in the circumstances.
The 99904 insurance costs should be allocated in cr to the beneficial and causal relationship between these costs and Segment H’s cost objectives.
Since both types of costs involved were not incurred for the same purpose in accordance with the criteria set forth in the Contractor’s Disclosure Statement, the allocation of general purpose tooling costs from the indirect cost pool to the contract, in addition 448 the directly allocated special tooling costs, is not considered a violation of the standard. The estimated service life is 10 years for the lathe. Contractor C’s practice complies with provisions of However, costs estimated for proposal purposes shall be presented in such a manner and in such detail 990 any significant cost can be compared with the actual cost accumulated and reported therefor.
It takes into account three broad areas of management concern: It usually performs management, supervisory, or administrative functions, and may also perform service functions in support of the operations of the various segments. He maintains one purchase-price variance account for the whole plant.
For example, if the personnel department of a home office provides personnel services for some or all of the segments a centralized service function and also established personnel policies for the same segments a staff management functionthe expenses of both functions could be cfrr over the same base, such as the number cf personnel, and the separate functions do not have to be identified.
48 CFR Part – COST ACCOUNTING STANDARDS | US Law | LII / Legal Information Institute
However, if the first CAS-covered contract is received within 90 days of the start of the cost accounting period, the contractor is not required to file until the end cfd 90 days.
Contractor accounts for engineering labor by cost function, i. The company should select a sampling time period which, preferably, is significantly longer than the anticipated life of the assets cdr which lives are to be estimated.
Where a directly associated cffr is part of a category of costs normally included in an indirect-cost pool that will be allocated over a base containing the unallowable cost with which it is associated, such a directly associated cost shall be retained in the indirect-cost pool and be allocated through the regular allocation process.
Contractor F’s practice complies with provisions of For purposes of a new proposal, contractor intends to allocate the travel costs of personnel whose time is accounted for as direct labor directly to the contract. The Chairman may vote on all matters presented for a vote, not merely to resolve tie votes. The cases cited above are only examples and many other examples xfr have been used.
9940 costs incurred at the segment level that benefit only that segment shall be treated in accordance with the provisions of The Paperwork Reduction Act of Pub. 99044 of the practices disclosed by a contractor, the question of whether or not, or the extent to which, a specific element of cost is allowed under a contract remains for consideration in each specific instance.
Having chosen to use This coverage applies to business units that receive negotiated contracts in excess of the Truth in Negotiations Act TINA threshold, as adjusted for inflation 41 U. He identifies the items included in his estimate of manufacturing overhead and provides supporting data for the estimated direct labor base.