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Government Cost Principles and Accounting Standards Robert M. Craig Director, The Clark Group Jeffery M. Chow Associate, Rogers Joseph ODonnellThree QuestionsWhat is Cost? DirectIndirectWhat is Cost

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What is cost principles and?

Cost principles refer to the rules and guidelines for determining allowable costs that can be charged to a government contract.

Who is required to file cost principles and?

Government contractors and subcontractors are required to adhere to cost principles when allocating costs to government contracts.

How to fill out cost principles and?

Cost principles are typically filled out by reviewing the specific guidelines provided by the government agency or contract and allocating costs accordingly.

What is the purpose of cost principles and?

The purpose of cost principles is to ensure that costs charged to government contracts are allowable, reasonable, and allocable in accordance with the terms of the contract.

What information must be reported on cost principles and?

Information required on cost principles may vary depending on the specific contract, but typically includes details on direct and indirect costs, allocations, and justifications for expenses.

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