Transcription of Government Contract Services - EY
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Government Contract Services - EY
Government Contract Services Indirect cost rates Indirect cost rates are necessary for Contract pricing and payment purposes on Government contracts, grants and cooperative agreements. Typically based on budgets for an ensuing project period, they can sometimes be derived from those allowable costs for a previously completed accounting cycle. The various types of indirect cost rates include predetermined rates, provisional rates and final rates. In addition to ongoing periodic monitoring of indirect cost rates, a contractor with a Contract containing the Federal Acquisition Regulation (FAR) , Allowable Cost and Payment clause or similar clauses where final price is based on actual costs incurred is required to submit a final indirect cost rate proposal to the contracting officer within 180 days following the completion of its fiscalyear.
Practical experience Ernst & Young LLP’s Government Contract Services (GCS) has assisted numerous commercial organizations, colleges, universities
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