For Government contractors with a cost reimbursable contract, spring typically means that it’s time to prepare your Incurred Cost Submission (ICS.) The purpose of this submission is mainly for the purpose of trueing-up actual costs to amounts that have been billed. Sounds simple enough, but the ICS requires 15 complex schedules to meet this objective. Who must file? Any company with a contract containing FAR the Allowable Cost and Payment Clause 52.216-7 is subject to the IC