§1502. Cost accounting standards — Inbound Citations
41 U.S.C. § 1502
Cited by 7 provisions in release 119-102.
Citations to 41 U.S.C. § 1502 as a whole
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In this part, the term “nontraditional defense contractor”, with respect to a procurement or with respect to a transaction authorized under section 4021(a) or 4022 of this title, means an entity that is not currently performing and has not performed, for at least the one-year period preceding the solicitation of sources by the Department of Defense for the procurement or transaction, any contract or subcontract for the Department of Defense that is subject to full coverage under the cost accounting standards prescribed pursuant to section 1502 of title 41 and the regulations implementing such section.
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(d) An airlift services contract for which the rate of payment is determined in accordance with subsection (a) shall not be subject to the provisions of chapter 271 of this title or to the provisions of subsections (a) and (b) of section 1502 of title 41.
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(2) not later than 180 days after the date of enactment of this paragraph, and biennially thereafter, review any cost accounting standards established under section 1502 of this title and eliminate or conform such standards, where practicable, to Generally Accepted Accounting Principles;
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(1) to conform the cost accounting standards established under section 1502 of this title with Generally Accepted Accounting Principles;
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(j) In this section, the term “covered contract” means a contract that is subject to the cost accounting standards issued pursuant to section 1502 of this title.
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(A) cost accounting standards prescribed under section 1502 of this title; or
Citations to §1502(f)(2)
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(b) A contract price adjustment undertaken under section 1502(f)(2) of this title shall be made, where applicable, on relevant contracts that are subject to the cost accounting standards so as to protect the Federal Government from payment, in the aggregate, of increased costs, as defined by the Cost Accounting Standards Board and in accordance with the following requirements:(1) The Federal Government may not recover costs greater than the aggregate increased cost to the Federal Government, as defined by the Board, on the relevant contracts subject to the price adjustment unless the contractor or subcontractor made a change in its cost accounting practices of which the contractor or subcontractor was aware or should have been aware at the time of the price negotiation and which contractor or subcontractor failed to disclose to the Federal Government.(2) For such changes in cost accounting practices—(A) costs recovered by the Federal Government shall exclude any contract or subcontract (or any portion of such contract or subcontract) that is firm, fixed-price, or that is not price-redeterminable based on costs; and(B) for a fiscal year, for any contract or subcontract (or any portion of such contract or subcontract) that is not a firm, fixed-price contract or subcontract the costs recovered by the Federal Government shall not exceed the net increased costs, if any, paid to the contractor or subcontractor for all changes in cost accounting practices implemented within the same fiscal year.