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DCAA Audit Backlog

With a heavy emphasis on pre-award surveys, ostensibly to ensure that a government contractor has a compliant cost accounting system in place, the DCAA has become seriously backlogged in trying to keep up with its review of Incurred Cost Submissions.

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More on "flexible" accounting software

As we previously discussed, there is a fine line between providing flexibility in cost accounting software while maintaining tight internal controls. You need both, and at first blush it might present a challenge in identifying a system that lends itself to easily correcting mistakes or performing what should be a routine...

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What do we mean by "flexible" accounting software?

As software publishers, we tend to promote our products as "flexible" when it comes to accounting and timekeeping features. But, what exactly does that buzzword mean? In this context, flexible means the opposite of "rigid" - a moniker that is often applied to stovepipe software that was originally developed back in the...

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BI for government contractors

BI is short for “business intelligence”, but what do those words mean as they relate to your government contracting business? You hear and read much these days about the need for analytics, data mining, and dashboards in order to gain and maintain your competitive edge. Hard-to-use and expensive options abound, but two of...

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The DCAA Blues

In a recent survey of federal contractors conducted by the public accounting firm Grant Thornton, close to one in five contractors report bad blood between them and the DCAA. Per the survey, "The relationship between contractors and government auditors and contracting officers has deteriorated during the past year. The...

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A-133 Audit Concepts

A-133 Audits roughly follow the same accounting and cost recovery guidelines as do federal contract awards that are governed by the FAR.  OMB Circular A-122 "Cost Principles for Non-Profit Organizations" covers project cost accounting topics familiar to most government contractors such as the recovery of direct costs,...

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How long will it take to implement your software?

Earlier this month,  I was presenting our SYMPAQ  product line to a CPA firm that specializes in government contractor audits and with DCAA compliance. While discussing pricing options, one of their professional staff asked a question that is almost rhetorical in nature, but nevertheless  has been asked a thousand times...

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DCAA Approved Accounting Software Redux

We received an e-mail recently on a topic that won't seem to go away. In all the years we've been doing this, the legend of DCAA approved accounting software remains on par with the Loch Ness Monster and Bigfoot. The e-mail stated, "From time to time articles in trade publications suggest there is a list published by the ...

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Firm Fixed Price Contract Audit Exposure

Fixed price awards don’t require cost accounting, you say? Every so often, we'll hear  government contractors provide us with words of wisdom to the effect, “We don’t need cost accounting software; all of our government business is firm fixed price. So we’re not subject to audits.”

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SF 1408 - Adequacy Checklist

The back page of the Standard Form 1408 features the evaluation checklist that DCAA auditors use to determine the "adequacy" of a contractor's accounting system.  This form is used primarily when a flexibly priced contract (Cost Plus, Time and Materials) is in a preaward stage, and therefore a survey of your accounting...

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