Government Contractors Accounting Services

Cost Accounting Standards
Federal Acquisition Regulations
Defense Contract Audit Agency
Deltek Implementation
Cost Rate Structure
GSA Schedules
Cost Proposals
Profit Analysis
Billing Rate Analysis
Mergers and Acquisitions

Cost Accounting Standards

Cost Accounting Standards (CAS) were designed to ensure uniformity in the costs associated with government contracts. While these standards were instituted to maintain consistency in the measurement, assignment, and allocation of costs, they are not rules and can be interpreted or approached in different ways. Understanding the standards is important, but it is the way a company defines themselves within the standards that is paramount to winning contracts. Our firm maintains the experience and expertise necessary to guide contractors through the standards and show them the most advantageous position to take. We walk contractors through the identification and allocation of appropriate costs to keep proposals as low and competitive as possible while still capturing all expenditures necessary.

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Federal Acquisition Regulations

Federal Acquisition Regulations (FAR) are the rules that govern the acquisition process of federal agencies. Their purpose is to provide uniform processes across all agencies to ensure that items being purchased adhere to the guiding principles outlined in the regulations. The guiding principles state that all agencies must have an acquisition process that (1) satisfies customer's needs in terms of cost, quality, and timeliness; (2) minimizes administrative operating costs; (3) conducts business with integrity, fairness, and openness; and (4) fulfills other public policy objectives (FAR 1.102(b)). These regulations also carry socioeconomic provisions to contracts including only buying American manufactured products and that large corporations use small businesses as subcontractors. Not every contract carries all provisions and being able to understand and navigate these provisions will not only give you a wider range of contracts to submit bids for but also higher likelihood of being awarded the contract. Our firm is well versed in FAR and can help your company identify and reach the provisions that are suitable for your industry and your desired contracts.

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Defense Contract Audit Agency

The Defense Contracting Audit Agency (DCAA) performs all necessary contract audits for the Department of Defense (DOD.) It also provides accounting and financial advisory services in regards to contracts and subcontracts for all DOD offices responsible for procurement and contract administration. Although DCAA was created to audit DOD contracts, they are engaged by other government agencies to complete audits. Since DCAA is the main audit agency for government contractors, it is beneficial to understand and install the internal controls necessary to pass a DCAA audit. Our firm has gone through multiple DCAA audits and has the experience necessary to focus on the items that DCAA wants to see while still monitoring the areas that are less visible. We can help you plan, install and maintain the internal controls and accounting procedures that are required to be approved by DCAA and keep the contracts that you have been awarded.

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Deltek Implementation

Due to the complex procedures and strict internal controls associated with doing business with the government, it may become necessary to purchase a more complete accounting program than an off the shelf product. Deltek software provides a skeleton system that can be setup and monitored to make sure that the internal controls within your corporation are being followed. The software can encompass many different areas of your firm, including time entry, client resource management, project management, and billing. Implementation of Deltek software is unique to each corporation due to its ability to monitor and control all of these processes. Utilizing a consultant during the implementation process allows a company to receive industry guidance and insight in the setup phase and ensures that the program not only functions as desired but also completes these tasks in the most efficient way possible.

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Cost Rate Structure

Cost Rate Structure is the process of determining what functions and costs are to be identified as direct and indirect costs. This process can be complex and can include multiple fringe, overhead, and administrative cost pools. Understanding the Cost Rate Structure and building in the correct cost controls will help keep you in compliance with FAR and CAS. The structure also provides management with tools to identify costs that can be cut or reduced to improve competitive position on a contract. Our firm can provide you with tools that help you identify and understand the costs associated with your ability to complete a project and how to best allocate those costs to your structure to keep you competitive and maximize profit.

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GSA Schedules

GSA Schedules are long term government-wide contract vehicles with commercial firms to provide access to millions of commercial supplies (products) and services at volume discount pricing. Being awarded a listing on a GSA schedule shortens the procurement process because the companies on the schedule have already met the requirements necessary to sell to the government. This "pre-approval" allows the government to buy directly from the contractor without going through a bidding process, which allows for a quicker acquisition process. Our firm can help identify the correct schedules for your company and take you step by step through the application process.

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Cost Proposals

Cost Proposals are an estimate of cost from a contractor to perform services or provide products to a government agency in response to a request for proposal or solicitation. Preparation of a complete cost proposal can be difficult. The process of producing a proposal that not only meets the price and timing structure outlined in the request but also keeps the company competitive is very complex. All costs associated with the job must be considered and included in the rates outlined in the proposal. Our firm can lay out the necessary steps and decisions needed to produce a competitive Cost Proposal, putting your company in the best position to be awarded the contract.

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Profit Analysis

A Profit Analysis breaks a company down in to different components and then applies costs to each element to determine the profitability of each sector. Allowing you to focus cost saving efforts to the areas of the business that need them the most. The Profit Analysis and other cost driven management reports are tools that become available after a company has implemented a Cost Rate Structure and will be a very powerful tool when reviewing the state of the company. Our firm can help generate the Profit Analysis report as well as other management reports that show the health of the areas of most concern to your company.

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Billing Rate Analysis

The Billing Rate Analysis is a management tool very similar to the Profit Analysis report but the Billing Rate Analysis looks at the profitability of a labor category rather than a section of the corporation. A Billing Rate Analysis allows you to assess the effectiveness of the rates applied to different labor pools and adjust the rates accordingly. Reports and management tools are only as good as the data entered. The more complete you make your Cost Rate Structure, the more detailed these reports will be. Our firm will help you implement these tools so that you are able to judge the health of your company, projects, and labor categories.

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Mergers and Acquisitions

In the world of government contracting the landscape is always changing and one contractor may merge with or acquire another contractor to side step the cost of starting up a new sector of the parent company. With companies being able to serve as both primary and subsidiary's on different contracts it is not always necessary for a company to merge to be able to bid on a contract. When it does become evident that a merger or acquisition will be taking place; our firm is able to guide you through the complex process and make sure that you value your company correctly and receive the full benefit of the merger.

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