What Does It Take to be DCAA Compliant? 5 Things You Need to Know


As a government contractor, maintaining compliance with the Defense Contract Audit Agency (DCAA) is crucial for the success of your business. The DCAA is responsible for auditing and evaluating government contracts, and ensuring that contractors are adhering to strict regulations and accounting principles. Non-compliance can result in serious consequences, including contract termination and financial penalties.…

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Contract Briefs & Provisional Billing Rates: Paving the Way for Financial Success in Government Contracting

Contract Briefs & Provisional Billing Rates

For government contractors, mastering the nuances of Contract Briefs and Provisional Billing Rates is not just about staying compliant; it is a strategic move towards ensuring financial success. These elements, often overlooked, are the bedrock of effective contract management, balancing the fine line between profitability and adherence to stringent government standards. These critical components, when…

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Incurred Cost Submissions: A Strategic Tool for Government Contracting Success


To successful government contractors, Incurred Cost Submissions (ICS) are not just a regulatory requirement; they are a strategic tool that, when mastered, can lead to more profitable contracts, enhanced credibility, and a stronger financial foundation for your organization. In simplest terms, Incurred Cost Submissions are your organization’s financial report card, showcasing how well you have…

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The Cornerstone of Winning Bids: Understanding Proposal Adequacy for Government Contractors


In the competitive realm of government contracting, the difference between securing a contract or facing rejection often hinges on a straightforward but critical factor: proposal adequacy. Even contractors adept at demonstrating their capabilities and strengths find ensuring a proposal meets every nuance and stipulation of a Request for Proposal (RFP) to be a complex challenge.…

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What is Uncompensated Overtime? Understanding DCAA Timekeeping Requirements


Government contractors are required to track uncompensated overtime worked by employees.  This is often confusing for contractors, since there’s no additional cost associated with salaried employees who work more than forty (40) hours per week.  In this article, we explore uncompensated overtime, and why it’s important when working with the Federal Government. What is uncompensated…

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What is the DCAA? All You Need To Know as a Government Contractor


The DCAA, or Defense Contract Audit Agency, provides audit and financial advisory services to the DoD and other federal entities responsible for acquisition and contract administration to ensure the government gets the best value for every dollar it spends on defense contracting. DCAA operates under the authority, direction, and control of the Secretary of Defense…

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Understanding Incurred Cost Proposals: Avoiding the Top 5 Audit Issues


All federal contractors with cost-type or time and materials (T&M) contracts with cost-type contract line items (CLINS) are required to submit an Incurred Cost Proposal regardless of agency customer.  All contracts requiring an Incurred Cost Proposal will include the Federal Acquisition Regulations Allowable Cost & Payment Clause and/or the T&M Payment Clause. What is an…

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Understanding Allowable Costs Speeds Reimbursement: 6 Best Practices for Avoiding Unallowable Costs


Understanding which costs may be allocated to a direct or indirect project, and billed to the government as an allowable cost speeds reimbursement of expenses, and helps avoid potential government penalties. The Federal Acquisition Regulations  (FAR) provides official guidance and numerous examples of allowable and unallowable costs. Here we will discuss what is and is…

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Are You Ready for a DCAA Floor Check?


DCAA floor checks can be a nerve-wracking experience for federal contractors. DCAA performs these surprise audits in order to make sure government contractors are accounting for their labor properly, and following required regulations. Here are 9 common questions we hear frequently about DCAA floor checks, along with  our answers to help you be best prepared…

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