Redstone Government Consulting

OCTOBER 30, 2024

If you don’t have contracts subject to full CAS, then FAR 31.205-26 Material costs requires contractors to implement GAAP when accounting for material. Material costs can either be charged direct to a contract or assigned to contracts through inventory accounts.

Accountability 75

Accountability Inventory Purchasing Contract 75

Government Contracts Legal Forum

JULY 10, 2024

The National Defense Authorization Act (NDAA) for Fiscal Year (FY) 2011 requires that the DFARS business systems clauses implement criteria for contractors’ accounting, cost estimating, material management & accounting, earned value management, purchasing, and property management systems.

Internal Control 52

Internal Control Material Management Accountability Purchasing 52

Redstone Government Consulting

NOVEMBER 6, 2023

If this were only a simple question. The most straightforward answer is that it is a good idea for any company to have policies and procedures. If that company is going to do business with the US Government those policies and procedures are going to have to be expanded as each contract may present additional requirements.

Government 52

Government Government Contract Material Management 52