by Brandon Lee | Nov 26, 2019 | Blog
Taking into account inflation that has occurred since 2014, on July 18, 2019, the Small Business Administration (SBA) published an interim rule adjusting the monetary – based industry size standards, as part of an ongoing second five-year review of size standards...
by Brandon Lee | Nov 13, 2019 | Blog
A Forward Pricing Rate Agreement (FPRA) is an agreement between a contractor and a government agency in which certain indirect rates are established for a specified period of time. These rates are estimates of costs and are used to price contracts and contract...
by Brandon Lee | Oct 29, 2019 | Blog
Contract type is a term to signify differences in contracts and their structures; including but not limited to compensation arrangements, amount of risk (either government or contractor). Contract types vary according to: The degree and timing of the risk...
by Brandon Lee | Sep 3, 2019 | Blog
The government will make payments to the Contractor when requested as work progresses, but (except for small business concerns) not more often than once every 2 weeks, in amounts determined to be allowable by the Contracting officer in accordance with Federal...
by Brandon Lee | Aug 14, 2019 | Blog
One of the leading reasons a small business fails is having a cash flow problem. Even a seemingly healthy business that is profitable and growing can suffer from a lack of funds to meet day-to-day obligations and support rapid growth. For many companies, a...
by Brandon Lee | Jul 29, 2019 | Blog
Many contractors come into government contracting thinking profit can be bid at normal commercial profit levels. While this may be the case depending on level of competition and your overall price relative to other competitors, in non-competitive scenarios, the...
by Brandon Lee | Jul 8, 2019 | Blog
FAR Cost Principles Guide – a chronology of revisions to FAR Part 31 used to determine the cost principles in effect at time of contract award that may be necessary for audits of historical costs (e.g. Incurred cost audits or Claims audits)....
by Brandon Lee | Jun 21, 2019 | Blog
NASA Invests $45M in US Small Businesses for Space Tech Development June 18, 2019 RELEASE: 19-046 NASA Invests $45M in US Small Businesses for Space Tech Development American businesses will help NASA land astronauts on the Moon in five years and establish a...
by Brandon Lee | Jun 18, 2019 | Blog
Standard Form 1408 (SF 1408) Below are 12 of the key elements of a DCAA compliant accounting system as identified on the Standard Form – SF 1408. · SF 1408 1 Demonstrate compliance with generally accepted accounting principles (GAAP) · SF 1408 2a Segregate...
by Brandon Lee | Jun 3, 2019 | Blog
A contractor’s Chart of Accounts (COA) must be set up to track unallowable costs separate from any indirect cost pool per FAR 31.205. For direct unallowable/unbillable costs, contractors need to develop a coding system to identify allowable direct costs separate from...
Recent Comments