DCMA Jobs For You
There are many reasons why working for the federal government can be appealing, whether it is the benefits, the pay or simply because you wish to give something back to your country. But what branch of the government is best for you? If you are thinking of working for the Defense Contract Management Agency (DCMA), […]
How to prepare an Incurred Cost Submission
If you have a federal contract or grant, you will probably be creating an Incurred Cost Submission. That is to say, a submission to the federal government to account for the costs you have incurred during a specific project. These include both direct and indirect costs and are usually due within six (6) months of […]
Indirect Cost Rates when dealing with federal contracts in general
Direct cost rates are rates that can easily be quantified within a contract. They include the cost of materials, wages of workers directly assigned to a project, subcontractors, etc. while indirect rates are rates that cannot be calculated without great effort. You may need to calculate an indirect rate if you are awarded a federal […]
How are Federal Contracts awarded?
In the private sector, contracts can vary greatly and are regulated only as far as they relate to the legality of the services or products being offered, and in that both parties consent to the contract. Otherwise, technically, two private individuals have virtually no restrictions on the content of their contracts. When dealing with the […]
Cost Accounting and the Cost Accounting Standards
Cost accounting is the practice of anticipating for the costs associated to running a business or producing a product. Since many costs can be flexible, it is not an exact science but when dealing with large volumes, the price distortions were generally not very big. Since cost accounting relates directly to a business and its […]
How to be DCAA Compliant
If you or your company has been fortunate enough to win a government contract you will have to be able to remain compliant with the Defense Contract Audit Agency. There are some important steps that you can take to ensure that you and your company will not have any problems if and when you face […]
DCAA Preaward Surveys
When you are in the running to win a government contract the DCAA will perform a preaward survey of your business to determine if it is capable of perform all the duties that the contract entails. Their main focus will be on two categories. First, they will want to ensure that if your company is […]
DCAA Preaward Audits of Accounting Systems
Contracting officers request a Preaward Audit in order to understand the accounting system which is being used by a government contractor. Many government contractors are stupefied to find out that their accounting system isn’t adequate, even if the books are being meticulously kept. For the DCAA, it isn’t enough just to keep good records though. […]
DCAA Accounting System Requirements
DCAA auditors are not just looking to see if a contractor’s accounting system meets a checklist. The DCAA auditor takes under consideration the Generally Accepted Accounting Principles, or GAAP, and will perform various tests to make sure that the accounting system is in accordance. Here are the areas that a DCAA auditor will be looking […]
Training Employees about DCAA Timesheet Regulations
Your DCAA timesheet may be one of the most demanding tasks when it comes to surviving an audit. However, it isn’t enough for just you to understand the DCAA timesheet regulations. Many firms fail audits because of problems their employees make. This can be avoided with a good training program. The first thing that employees […]