GovCon Wednesdays Estimated Read Time: 5 minutes The Incurred Cost Submission (ICS) is more than a single document, it is a structured package of schedules designed to reconcile your fiscal year’s direct and indirect costs and certify that all claimed costs comply with FAR 52.216-7. These schedules help the government determine whether your billed costs were reasonable, allowable, and allocable, and they support final indirect rate determinations and contract closeouts. This installment… Read More
Accounting Blog | Fairfax VA CPA firm