Do you find yourself struggling with FAR & DCAA compliance requirements, worrying if you will make a profit on a government contract or grant, or barely staying profitable each year, yet you already have an accounting department or firm that should be handling this for you?Read More
DCAA Compliance Blog
Your Source for DCAA & FAR Compliance News and Discussion
ReliAscent® LLC is the only government contract accounting firm that specializes in all aspects of government contracting compliance. From our DCAA compliant accounting services, to monthly government contract accounting for all government agency awards, contract management & administration, and financial services & planning, our goal is to ensure the success of our clients, and all small business government contractors and grantees.
In our DCAA Blog, we discuss the latest government contracting news from the Federal Government, the DCAA, and DCMA, as well as promotions offered by ReliAscent, and helpful tools and resources for contractors.
We hope you will visit and take part in the discussions on our blog on a regular basis. If you ever have any questions or would like to discuss how our experts can help, do not hesitate to contact us at any time!
When a Small Business contracts with the Department of Defense, NASA, or the Department of Homeland Security (and potentially other agencies), they are often required to have a DCAA compliant accounting system. While there are many components of a compliant system (just as there many types of DCAA audits), the underlying procedure for assessing a contractor’s system is guided by the Standard Form (SF) 1408 (also known as the “Preaward Survey of Prospective Contractor Accounting System”), seen here below:Read More
Last week, we discussed the fact that (despite popular misconception), contractors DO NOT in fact need an "approved" accounting system in order to simply bid on contracting opportunities with the Federal Government. In Part II, we examine language in various solicitations from Federal Agencies that supports this assertion.Read More
Many new/start-up small business federal contractors often ask the question: Will not having an approved accounting system disqualify our firm from bid opportunities?Read More
Earlier this week I wrote an article about the declining amount of ethics evident in our society today. I didn't spend enough time relating this directly to DCAA Accounting and DCAA compliance. I wanted to talk just a little bit more about that here.
I saw an article on a news feed the other day that indicated there has been a change in the amount of cheating in business over the last several decades. The article also indicated that the level of cheating in universities is also increasing. It seems that the ends justify the means. Not only have we lost some of our moral fiber in this country, we are seeing this degradation emphasized in schools, business practices and even the media. I think a person only has to watch a small amount of television (not only the news but in the reality type shows) and you can easily see what I'm talking about. Combine this with major scandals in the last 15 years (Enron, the mortgage crisis and the global financial crisis in 2008 to mention a few) and the trend is not pretty. Individuals can have strong moral compasses but the influence of peer groups is overpowering.
I talk to a lot of small business people. It is surprising to me how many of these people would rather do their accounting themselves to try to save money. I understand where they are coming from (I am in a small business too) but the logic doesn't hold up in all cases, especially if you examine it carefully. Often small business owners tend to under value their time. They can often misplace their priorities in growing their business, which can save expenses from the bottom line in the short-run but limit the growth of the business, and therefore the bottom line, in the long-run.