Posts Tagged ‘government contracting’
Contract Briefs & Provisional Billing Rates: Paving the Way for Financial Success in Government Contracting
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…
Read MoreThe 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.…
Read MoreWhat 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…
Read MoreUnderstanding 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…
Read MoreUnderstanding 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…
Read MoreJennifer Eubank’s Article Wins 2022 Accountant Advocate MVP Awards.
Jennifer Eubank’s article GovCon 101: What Contractors Should Know About Accounting For Government Contracts,” has won 1st place in the 2022 Accountant Advocate MVP Awards Other category! To learn more, visit here.
Read MoreGovCon 101: What Contractors Should Know About Accounting For Government Contracts
Jennifer Eubanks recently authored the council post, GovCon 101: What Contractors Should Know About Accounting For Government Contracts In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I discussed Federal Acquisition Regulations…
Read MoreThe Complete Guide to DCAA Pre Award Audits: An 8 Point Readiness Checklist
What Exactly is a DCAA Pre Award Audit? A DCAA pre-award audit is a mandatory requirement for all defense contractors awarded cost reimbursable contracts. It is designed to assess the contractor’s ability to properly account for contract costs, and it is conducted before any contract funding has been released. A pre-award audit is not a…
Read MoreJennifer Eubanks Forbes Feature Article: What Prospective Contractors Need To Know When Preparing To Bid For A US Federal Government Contract
Jennifer Eubanks was recently featured on Forbes with her article: What Prospective Contractors Need To Know When Preparing To Bid For A US Federal Government Contract It can be appealing to count the federal government as a customer. The government spends significantly each year and pays its bills. Furthermore, government spending typically increases in times…
Read More
