Government Contracting - DCAA Audits - Jennifer Schaus

DCAA Audits Get The Facts!

DCAA Audits / SF-1408 Get The Facts!

• Agenda – Introductions – Presentation –Q&A

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DCAA Audits / SF-1408 Get The Facts!

– Introductions: • • • •

Fed Bid Speed – B2G Software Mngt Tool Fierce Govt – Govt IT Publication Jeffrey Padawer, CPA – DCAA-Assist LLC Jennifer Schaus – JS & Associates

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DCAA Audits / SF-1408 Get The Facts • Fed Bid Speed * Software program to manage B2G Opps * Single click integration with FBO.gov * Share notes & project manage RFP’s

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DCAA Audits / SF-1408 Get The Facts! • Fierce Government * Free Govt Newsletter * Agency News / Open Gov / Data Mngt * Analysis / White Papers / Events * In-depth & Quality = Differentiator

DCAA Audits / SF-1408 Get The Facts!

DCAA-Assist LLC • • • • • •

FAR Compliance & Accounting Specialist QuickBooks Implementation Time-Keeping, Cost Pools, Account Structure Policies & Procedures, Job Cost Accounting DCAA pre-award audit preparation Indirect Costs, Incurred Cost reporting

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DCAA Audits / SF-1408 Get The Facts! • Jennifer Schaus & Associates • B2G Services and Events

* GSA Schedules * Federal Sales / Marketing * Subject Matter Experts on Various B2G Components B2G Govt Contractors Networking Event March 19 http://JenniferSchaus3.eventbrite.com Your Logo

DCAA Audits / SF-1408 Get The Facts!

DCAA Audits / SF-1408 Get The Facts!

DCAA – Defense Contract Audit Agency What is it exactly?

DCAA Audits / SF-1408 Get The Facts!

SF-1408 Standard Form 1408 Pre-Award Survey of Prospective Contractor - (Accounting System)

DCAA Audits / SF-1408 Get The Facts!

1. GAAP (Generally Accepted Accounting Principles) a) b) c) d)

Accrual Accounting Matching Principle A/R & A/P Monthly Reconciliations

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DCAA Audits / SF-1408 Get The Facts!

2.

Accounting System Provides for: a)

b) c)

Segregate direct v. indirect costs i. Chart of accounts ii. Policies & Procedures ID & accumulation of direct costs by contract i. Job Costing (Customer : Contract : CLIN : Task Order) A logical & consistent method for the allocation of indirect costs i. Indirect Cost Pools Structure (Fringe, Overhead, General & Admin, Unallowable Costs)

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DCAA Audits / SF-1408 Get The Facts!

2. Accounting System Provides for: d)

Accumulation of costs - general ledger control i.

d)

A timekeeping system i.

d)

Integrated General & Job Cost Ledgers

Analog or Digital Time Cards (direct & indirect labor hours)

A labor distribution system i.

Labor hours converted to labor $’s at the effective hourly rate of pay

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DCAA Audits / SF-1408 Get The Facts!

2. Accounting System Provides for: g)

Routine posting of books of account i.

g)

Exclusion of FAR 31.205 Unallowable Costs i.

g)

Policies & Procedures, separate G/L section

Identification of costs by contract line item i.

g)

Timely posting & data entry

Accounting structure for Customer : Contract : CLIN : Task Order stipulated by contract

Segregation of preproduction costs i.

Generally N/A for service contracts

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DCAA Audits / SF-1408 Get The Facts!

3. Accounting system provides financial information: a) b)

Limitation of cost (FAR 52.232-20) or Limitation on payments (FAR 52.216-16) i.

c)

75% Spend level (Budget to Actual Reporting)

Support requests for progress payments i.

Voucher Master for CPFF contracts

4.

Pricing follow-on acquisitions

5.

Accounting system currently in full operation Your Logo

Please send your questions here ďƒ

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Jeffrey Padawer, CPA DCAA-Assist LLC assist@dcaa-assist.com www.dcaa-assist.com 267–885–4630

Jennifer Schaus & Associates JSchaus@JenniferSchaus.com www.JenniferSchaus.com +1–202–365–0598 Your Logo