[Code of Federal Regulations]

[Title 48, Volume 7]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 48CFR9904.401-30]



[Page 354]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

     CHAPTER 99--COST ACCOUNTING STANDARDS BOARD, OFFICE OF FEDERAL 

           PROCUREMENT POLICY, OFFICE OF MANAGEMENT AND BUDGET

 

PART 9904_COST ACCOUNTING STANDARDS--Table of Contents

 

Sec. 9904.401-30  Definitions.



    (a) The following are definitions of terms which are prominent in 

this Standard. Other terms defined elsewhere in this part 99 shall have 

the meanings ascribed to them in those definitions unless paragraph (b) 

of this subsection, requires otherwise.

    (1) Accumulating costs means the collecting of cost data in an 

organized manner, such as through a system of accounts.

    (2) Actual cost means an amount determined on the basis of cost 

incurred (as distinguished from forecasted cost), including standard 

cost properly adjusted for applicable variance.

    (3) Estimating costs means the process of forecasting a future 

result in terms of cost, based upon information available at the time.

    (4) Indirect cost pool means a grouping of incurred costs identified 

with two or more objectives but not identified specifically with any 

final cost objective.

    (5) Pricing means the process of establishing the amount or amounts 

to be paid in return for goods or services.

    (6) Proposal means any offer or other submission used as a basis for 

pricing a contract, contract modification or termination settlement or 

for securing payments thereunder.

    (7) Reporting costs means provision of cost information to others.

    (b) The following modifications of terms defined elsewhere in this 

chapter 99 are applicable to this Standard: None.