Contracting with the Federal government offers
significant opportunities but sorting through the maze of cost
accounting regulations can be overwhelming to a small business owner.
If you have won a Federal contract, let us help you:
Implement and support a government contract
accounting system to satisfy the requirements of the FAR including
distinguishing direct and indirect costs, developing indirect cost
allocation methodologies, and accounting for unallowable costs. We are
experienced and proficient with Deltek, Quickbooks, and Peachtree.
Prepare for and manage DCAA audits including
accounting systems, incurred cost, financial capability and timekeeping
systems, CAS disclosure adequacy and compliance.
Develop an indirect rate structure and build rate budgets for the purpose of provisional billing and forward pricing.
Provide training on monthly accounting
procedures including computing actual indirect rates and monitoring
against budgets, balancing the job cost and general ledgers,
reconciling labor distributions with payroll, and monitoring actual
contract profitability.
Prepare an annual DCAA Incurred Cost Submission.
Prepare CAS disclosure statements.
Establish FAR-compliant timekeeping procedures.
Write Accounting Policies and Procedures to address the requirements of the FAR as well as GAAP.
Develop an adequate billing system to participate in the DoD Direct Billing program.
Manage timely submission of contract close-outs and final billings.
Government Contract Accounting