In the world of Government Contracting there are a lot of players trying to get a piece of the pie. Contractors and subcontractors alike are all trying to use their expertise to win a bid. Though, with the Government’s intricate standards on awards, expertise isn’t enough. Primes and subcontractors need to adhere to a strict […]
Category: Back Office
Understanding the Basics of Federal Acquisition Regulations (FAR)
Cost Accounting Standards (CAS) for Dummies
Many of the Government’s compliance rules and programs can be complex and hard to follow. In this document we will walk you through determining if your contract/subcontract is CAS covered, what type of coverage it is subject to, what standards you are required to follow, and if your CAS contract/subcontract requires a Disclosure Statement. So, […]
Materials Management and Accounting System (MMAS) Audits
Federal Contractors are required to maintain a Materials Management and Accounting System that is compliant with DCAA standards. This should come as no surprise as the DCAA has an entire book of regulations that contractors must adhere to. Unfortunately your MMAS is no exception. So, what can a contractor do to stay compliant and prepare […]
Mitigating Financial Risk for Small Businesses
For every “too big to fail” corporation in the US, there are thousands of small businesses that are slogging it out in the trenches. Only 50% of small businesses make it past the 5-year mark, and even then the challenges of growing are quite substantial. Small businesses are very fragile in their infancy and are […]
Compliance Audits: Who They Affect, What to Expect, and How to Correct
A compliance audit is performed to determine whether a company’s processes or transactions has or has not followed applicable rules. These rules can be created by the organization for itself through corporate by-laws, policies, or procedures; can be imposed on the organization through external laws and regulations (ex. DCAA Compliance); or can be a set […]
Too Good To Be True: The Dangers of Choosing the Lowest Bidder
The government world has become slightly obsessed with the notion of choosing “the lowest bidder”. In the buyers mind it is a win for everyone. They get their needs met for the lowest possible price and the bidding war is open to anyone who wants to throw their number into the ring. Capitalism at it’s […]
Back Office Support: The Productivity Pick-Me-Up
As a small to mid-sized firm there are certain expenses that can look quite daunting at this stage in your company’s development. You can be overwhelmed with accounting demands, HR requirements, staying compliant, and more. One solution for a growing business at this stage of development is to outsource their back office needs to a […]
