In accordance with Title 10, Subtitle 1 of the State Government Article, the Board shall adopt regulations on price and cost principles based on generally accepted accounting principles. The principles adopted by the Board shall be used: as guidelines for negotiations on: estimated costs or fixed prices; price adjustments for contract modifications and change orders; and settlements of terminated procurement contracts; to establish the allowability of costs under procurement contract provisions for the reimbursement of costs; and in any other situation that requires the establishment of the estimated or incurred costs of performing a procurement contract.