INCURRED COST SUBMISSION
Preparation & Monitoring of Indirect Rates
Your partner in submitting an incurred cost proposal, or "ICS", providing the needed supporting data for each fiscal year.
WHAT IS AN INCURRED COST SUBMISSION?
Federal contractors under Cost Plus Fixed Fee and other cost reimbursable contract types must submit an incurred cost proposal, or "ICS", together with supporting data for each fiscal year within six months after the end of the fiscal year. To establish final indirect rates and direct contract costs, contractors must understand all components of an adequate incurred cost proposal and the costs that must be included within these submissions.
ICS RATE CALCULATIONS
It is also important, and required for DCAA Compliance to prepare ICS rate calculations throughout the year to compare rates used for preparing progress billings/vouchers to actual rates incurred. No contractor wants to end a fiscal year owing the government money for overcharging their indirect rates. Conversely, and no less important, does a contractor want to under-bill the government for the full amount of indirect costs recoverable under the contract.
Contact us to learn more about our incurred cost submissions service.