Government contractors should perform an internal assessment of their compliance before an audit is performed and participate in the audit process to ensure a favorable result.
The pandemic and the resulting changes in employee work routines and locations have created a potential cost-allowability issue that many government contractors have not previously encountered – potential idle facilities and/or idle capacity.
Learn about unallowable costs and what determines a costs' allowablility. We also provide a listing of FAR and DFARS clauses that are considered to contain expressly unallowable costs subject to penalties.
Every few years, we reach out relative to the importance of a government contractors’ response to audits performed by the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA), the Department of Labor (DOL) or, for that matter, any other government audit function.
Government regulation requires costs to be classified as either a direct cost or an indirect cost. As we know, indirect costs, in the aggregate, represent the largest class of expense incurred on government contracts. Direct costs, by definition, are identifiable with a specific “final cost objective” while indirect costs are associated with common or joint cost objectives.
Labor recording is the basis for the valuing and allocating the efforts of you and your employees and a critical process for government contractors who depend on it for their product and services costing (read billing/cash flow) and pricing.
While a contractor’s forward pricing rates may sometimes get confused with their provisional billing rates, by the contractor and even the government, they are completely different rates developed for completely different purposes.
FAR (Federal Acquisition Regulations) is one of the most important laws to know for any company looking to work with the federal government. In this blog post, we'll cover some key points so you can get started on understanding your responsibilities as a contractor!
Governor Youngkin’s announcement in May provides an alternative hiring process for individuals with disabilities, part of a larger discussion about inclusive hiring practices. Which state agencies are affected and how can they comply?
It is important for government contractors in developing their business systems and offering them up to the government as representative of their compliance with the published requirements to understand what a “system” is in the context of government compliance.