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What in the Sam Hill is “FAR compliant” accounting software?

The Federal Acquisition Regulations (FAR) is comprised of 53 Parts, including three “reserved” parts that are without content.  So, what in the many volumes of regulations contained in the other 50 parts and subparts relate to a “compliant” cost accounting system? The long answer is that references to the Cost Accounting...

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Preparing for a DCAA Accounting Systems Adequacy Audit

As a government contractor, your first face-to-face interaction with a DCAA auditor will likely be an Accounting Systems Adequacy Audit (Pre-award Survey). The audit does exactly what the title states. DCAA will be looking at your processes and systems to determine if your accounting systems, policies, and procedures are...

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Did you save too much money on your accounting software?

We received a call the other day from an employee of a small subcontractor who was both stressed and overwhelmed. You see, their prime contractor recently told them that they need to submit four year’s worth of incurred cost submissions as directed by DCAA per FAR 52-216.7 (Allowable Cost and Payment) . As a subcontractor,...

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4 Signs That Your GovCon Business is Outgrowing Quickbooks

You Need Accurate, Fully Burdened Cost Data

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Are Your Subcontractors Adding Value?

Recent guidance from DCAA suggests they may start disallowing certain indirect costs for the prime on contracts where the subs are doing more than 70% of the work.

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Service Contract Audits to Increase

This is via Centre Consulting.

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SYMPAQ User Wins Prestigious SBA Award

Congratulations to Judy K. Sheppard, President and CEO of Professional Services of America of Parkersburg, WV, on her award of the 2011 West Virginia Small Business Person of the Year.  Judy was recognized by the US Small Business Administration in a ceremony held in Washington, DC on May 20th. Professional Services of...

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Company Culture and Accounting Systems

At first pass, this may seem like an odd combination of issues, but company culture has to be accounted for when changing accounting systems.

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Reduction in Proposal Audits to be Offset in Other Areas

In late 2010, DoD procedures were amended and will likely result in fewer proposal audits. However, this good news comes with a dark cloud. The reduction in proposal audits is likely to be countered by an increase in other DCAA audits. Accounting firm Cherry, Bekaert, & Holland listed a few areasthat may come under...

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