Adequate Accounting System

Adequate Accounting System

Standard Form 1408 (SF 1408) Below are 12 of the key elements of a DCAA compliant accounting system as identified on the Standard Form – SF 1408. · SF 1408 1 Demonstrate compliance with generally accepted accounting principles (GAAP) · SF 1408 2a Segregate...
FAR 31.205 – Unallowable Costs

FAR 31.205 – Unallowable Costs

A contractor’s Chart of Accounts (COA) must be set up to track unallowable costs separate from any indirect cost pool per FAR 31.205.  For direct unallowable/unbillable costs, contractors need to develop a coding system to identify allowable direct costs separate from...