DCAA Accounting System Requirements

DCAA Accounting System Requirements

Contracting office or DCMA conducts Pre-award survey to consider responsibility of prospective contractor. Design of the DCAA Accounting system is part of the Pre-award survey (SF 1408 Criteria) DCAA requested to evaluate design of Accounting system Preaward...
COVID-19/PPP/FFCRA GUIDANCE

COVID-19/PPP/FFCRA GUIDANCE

COVID-19 PPP, FFCRA GUIDANCE: As many of you prepare for taking PPP (Paycheck Protection Program) funding and have to deal with the FFCRA (Families First Coronavirus Response Act) sick leave requirement, many are asking how to account for this in your accounting...
COS CEO – 2020 Leadership Lessons

COS CEO – 2020 Leadership Lessons

February 12th, from 4:30-6:00pm at the Pinery at the Hill, featuring our very own Lisanne McNew! Presented by Phil Long Dealerships and the Colorado Springs Business Journal.  Meet 12 movers and shakers, people who get it done, who know business inside and out. Our...
DOD Issues final rule regarding contract closeout authority | DFARS

What Does It Mean When FAR 52.216-7 Is In Your Contract?

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...
Incurred Costs (2020 Reminder)

Incurred Costs (2020 Reminder)

An Incurred Cost Submission is a proposal containing your actual incurred costs for the most recently completed contractor fiscal year.  The proposal contains actual costs for both direct costs (labor, material, travel, subcontractors, etc.) as well as indirect costs...
G&A vs. Overhead

G&A vs. Overhead

Understanding these concepts will help you protect profits and give you the ability to negotiate new contracts effectively and competitively.  Being correct and consistent in how you categorize expenses helps you effectively monitor escalating costs or eroding...

Happy Holidays!

Here’s wishing you a Merry Christmas, Happy Holidays, and a wonderful New Year from the McNew & Associates team. We had an amazing time celebrating with our team and clients this holiday season! (who says DCAA Accounting and Compliance can’t be fun?)...