Federal Acquisition Regulation discussion help

Need around 110 word per reply

Reply 1

Go to FAR Part 31, choose a cost element, and provide a real life example of where it could be an issue for a contractor.

I went to FAR Part 31 and selected relocation costs as a cost element. According to FAR 31.205-35, relocation costs are costs incident to the permanent change of assigned work location (for a period of 12 months or more) of an existing employee or upon recruitment of a new employee (Federal Acquisition Regulation [FAR], 2016). A real life example of where relocation costs could be an issue for a contractor would be that the FAR clearly states that relocation costs are only to be given to an existing or recruitment of a new (federal) employee. If, for example, the government entered into a contract with a contractor that is 3,000 miles away from where the contract is expected to be performed, the government would not pay for the relocation costs of any contractors to come perform work on the contract. Additionally, as a current COR for the federal government, we are not allowed to pay for contractor’s travel. In several TEPs that I have been a part of, contractors have tried to include their travel in their proposed costs and the CO always has to go back and tell them that we cannot pay for their travel. However, the contractor usually finds a way around this, usually by raising their prices on other required performance factors/tasks.

Reference

Federal Acquisition Regulation, pt. 31.205-35 (2016)

Reply 2

Pick one exemption to CAS, describe in layman’s terms what it means, and provide an example situation where it would apply. Is there any “wiggle room” in the exemption, or is it “cut and dried”? (QUESTION)

Cost Accounting Standards (CAS) in layman terms is the process in which a contractor must track, record and analyze cost associated with the contracts being performed. The CAS instructs contractors how to account for certain types of costs and how costs flow to cost objectives in accordance with the FAR. Objectives of CAS are to:

  • Provide for consistent use of accounting practices,
  • Provide greater standardization in treatment of costs on federal awards by an educational institution,
  • Prevent charging unallowable costs to federal awards, and
  • Provide for uniformity of the accounting practices used among educational institutions. The CAS are concerned with consistency in cost accounting with respect to the:
  • Measurement of costs (amount),
  • Assignment of costs to the proper accounting period (timing), and
  • Allocation of costs to intermediate and final cost objectives (State University of New York, 2011).

Example of applying CAS would to be to apply it to higher educational institutions for federal research programs to ensure that funds are properly allocated. Some institutions may improperly allocate indirect cost to federal research programs and charge unallowable cost to federal award.

Exemptions to CAS do offer some wiggle room. Before exemptions can apply the contractor must be performing at least one CAS covered contract of 7.5 million or more. If these requirements are not met the CAS requirement will not be triggered (Wessel & Company, 2016).

Works Cited

State University of New York. (2011). RFSUNY. Retrieved November 15, 2016, from rfsuny.org web site: https://www.rfsuny.org/media/RFSUNY/Procedures/ap_…

Wessel & Company. (2016). wesseicpa.com. Retrieved November 15, 2016, from wesseicpa.com web site: http://www.wesselcpa.com/files/2012%20SHOWCASE%20P…

 
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!

NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.