Safely Navigate Government Cost & Pricing

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Policies, Procedures, Internal Controls

This section addresses Adequacy of Accounting, Bid Proposal, Management and related systems.

Keep aware of the 4 Key Regulations:

1.Generally Accepted Accounting Principles (GAAP)      

2.Truth In Negotiation Act (TINA)

3.Cost Accounting Standards (CAS) 

4.Federal Acquisition Regulation (FAR) - and Supplements

The DCAA (Defense Contract Audit Agency) and other government auditors, use all of the above in their oversight and regulation of government contract cost and pricing.

Articles of Interest

  Policy Manual Template
Is there a template or guide for starting the process of developing Policies and Procedures for Government Contract Cost and Pricing that addresses the requirements of the FAR, DCAA, and DCMA?  

YES! We like to keep things as simple as possible, when possible.  We compiled from experience and many sources, a collection of key, strategic policies into the Policy Manual Template and made it as accurate and current as possible.  This Template, "Accounting, Cost, and Financial Policy Manual", will jump start the process for you at a fraction of the cost, time and frustration of beginning from a blank slate.
  Assigning Fringes as Direct or Indirect

Inquiry: Paul, I just reviewed part of your presentation to the audience at the American Legion.  I have a concern.  Your Indirect Costs include Fringe Benefits and Payroll Taxes.  In my experience, I assign them differently.  Is there a problem?

Response: Either way could be okay, as long as the method results in a fair and reasonable assignment of the costs to final cost objectives (contracts) AND the method is consistently used.  But let's look a bit deeper......
  Incurred Cost Inquiry: Travel & Client Expenses - Are they B&P or G&A cost?

INQUIRY: Hi Paul,  Can you explain the difference of putting travel and client expenses into B&P versus G/A?  RESPONSE: B&P (Bid and Proposal) expenses are typically for costs incurred during the Proposal Phase while similar type costs would typically go into G&A when they are incurred for the General and Administrative activities of the company, but not for B&P purposes. Lets look closer....
  DCAA Checklists You Should Never Be Without

Are you a Prime or Subcontract doing business or hoping to do business with the government?

Well, there are several important checklists you should have in your Tool Chest, alongside the tools we provide.  There are others, but we must start somewhere.  And they’re free!   

Really Free? Well, since your tax dollars paid for them, “technically” they aren’t free!
 
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