by Brandon Lee | Jan 22, 2020 | Blog
Okay, so you’ve just been awarded a cost reimbursable contract, and in reviewing the contract, you discover the FAR (Federal Acquisition Regulation) Clause 52.216-7 Allowable Cost & Payment, in Section I Contract Clauses. So what exactly is this clause and what...
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 | Dec 3, 2018 | Blog
FAR 4.7 states “Contractors shall make available records, which includes books, documents, accounting procedures and practices, and other data, regardless of type and regardless of whether such items are in written form, in the form computer data, or in any other...
by Brandon Lee | Oct 11, 2018 | Blog
A contractor’s circumstances, and contract type, dictates whether you are required to have a DCAA compliant accounting system. If you have a negotiated fixed price contract, you are not required to have a DCAA compliant accounting system. A contractor must only...
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