What We do (COPY)

Full Service Accounting

Accounting System Setup

We setup a compliant accounting system specific to your industry including Federal Acquisition Requirements (FAR) needed to win cost reimbursable contracts for DCAA, SBIR and SBA contracts. 

Ongoing Accounting Services

Once you have established a compliant accounting system, the next step is to determine how your company will maintain its compliance on a monthly basis in a manner that is compliant with government contract accounting requirements (FAR 31.2). In addition to all the typical accounting tasks, we provide DCAA compliant services including:

    • Separate accounting of direct and indirect costs
    • Job cost accounting by contract by CLIN
    • Compliant Timekeeping
    • Identification of unallowable costs
    • DCAA compliant indirect cost rates and indirect cost allocations to projects
    • DCAA cost reporting including contract status reports, budgets, and contract funding

Pre-Contract Award

Cost Proposal and Cost Narrative support

We will assist you in preparing a cost proposal that will meet FAR Part 15 and solicitation requirement.

Subcontract Development & Administration

We ensure proper flow-down of contract clauses as well as assist with subcontract negotiations and administration.

Subcontractor and Prime Billing Rates

Developing provisional indirect Bidding & billing rates that meet expectations of FAR 42.704 and DCAA audit expectations.

Post-Contract Award

Incurred Cost Submissions (ICS) and Reviews

  • We will prepare or review your annual year end Incurred Cost Proposal (ICE) to ensure that your ICE is submitted properly and is considered adequate by the Defense Contract Audit Agency (DCAA).
  • Preparation/adequacy of each of the schedules included in the Proposal
  • Audit/classification of allowable/unallowable costs
  • Actual indirect rate calculation
  • Cost Management Reports/Job Cost adjustment to actual indirect rates
  • Prepare Contract Briefs

Contract Management

  • Preparing contract briefs (this function is also required in the ICE submission)
  • Interpreting and explaining contract terms
  • Reviewing contract modifications
  • Negotiating with the contracting officer or prime contractors
  • Administering subcontracts
  • Reviewing and negotiating agreements
  • Overseeing contract/subcontract close-out activities

Invoicing Services

Interpreting invoicing requirements and fulfilling all regulatory requirements during the life cycle of the contract.

Audit Support

The key to success is to operate your business in a way in which you prepare for a DCAA audit from the start. “An Ounce of prevention is worth a pound of cure” -Benjamin Franklin. Take a proactive approach and team with experienced professionals who have been on your side of the table and understand the stress and time involved with a DCAA audit. The types of audit support we provide include:

  • Accounting System Audits: This Audit is a thorough testing of an accounting system to ensure the system is fully functional and able to handle various types of transactions. These audits require a considerable amount of time and attention, often lasting one to two months. 
  • SF 1408 Pre-Award Survey: New to government contracting or anticipating winning your first cost-reimbursement contract? If so, then you can expect a SF 1408 Survey. The point of the pre-award survey is to ensure the contractor has “an accounting system designed, and records maintained in such a manner that adequate, reliable data is developed”.
  • Incurred Cost Audits: Under the Allowable Cost and Payment clause, contractors with flexibly priced contracts are required to submit an annual final indirect cost rate proposal, also known as an incurred cost submission, which is the precursor to the government’s incurred cost audit. One of the primary purposes of an incurred cost audit is to ensure the contractor has not included any unallowable costs in their indirect cost pools.
  • Provisional Billing Rates: FAR 42.704 governs the procedures and guidance for establishing provisional billing rates. Provisional billing rates pose as an estimation of these final year end rates, which are trued up to actual indirect rates at the end of the contract’s fiscal year.
  • Paid Voucher Audit: The purpose of this audit is to verify that cost invoiced to the Government are allowable, allocable, and reasonable. Paid Voucher Audits are supposed to be performed on at least one interim voucher per year for nonmajor contractors. The paid voucher evaluation procedures apply to all contractors submitting interim vouchers for review including those not using Wide Area Workflow.
  • Business system self-assessment: Prevention and preparation are key to a successful and painless audit. Contractors are strongly encouraged to perform due diligence procedures in advance of a DCAA audit. GCA can perform internal audits and reviews to evaluate your companies’ audit readiness.

Add Your Heading Text Here

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Get Started Today

Schedule your Initial Meeting

Click the button on the right side of your screen to schedule your initial meeting so we can discuss the situation that your business is in.