Federal Acqusition Regulations Part 31 Compliance
Federal Acquisition Regulations Part 31 contains cost principles and procedures for the pricing of contracts, subcontracts, and modifications to contracts and subcontracts whenever cost analysis is performed; and the determination, negotiation, or allowance of costs when required by a contract clause.
FAR Part 31.100 and its subparts describes the applicability of the cost principles and procedures to various types of contracts and subcontracts. It also describes the need for advance agreements.
The objective of FAR Part 31 and its subparts is to provide that, to the extent practicable, all organizations of similar types doing similar work will follow the same cost principles and procedures.
To this extent, CCA has implemented many cost accounting systems with small and medium sized businesses that allow them to comply with FAR Part 31. Implementation is accomplished with minimal impact to current operations and provides companies the ability to enahce their accounting practices for future profitability.
CCA can assist you in implementing a cost accounting system that complies with FAR Part 31 and will pass DCAA audits. Click here to send a description of your needs to CCA. A knowledgeable CCA representative will contact you to discuss your needs.