[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: 48CFR9904.406-30]



[Page 371]

 

            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. 9904.406-30  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) Allocate means to assign an item of cost, or a group of items of 

cost, to one or more cost objectives. This term includes both direct 

assignment of cost and the reassignment of a share from an indirect cost 

pool.

    (2) Cost objective means a function, organizational subdivision, 

contract, or other work unit for which cost data are desired and for 

which provision is made to accumulate and measure the cost of processes, 

products, jobs, capitalized projects, etc.

    (3) Fiscal year means the accounting period for which annual 

financial statements are regularly prepared, generally a period of 12 

months, 52 weeks, or 53 weeks.

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

with two or more cost objectives but not identified specifically with 

any final cost objective.

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

chapter 99 are applicable to this Standard: None.