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
DCAA Compliance Blog
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Many small businesses come to us with the question of “what do I need to do to have an accounting system that is DCAA compliant”? That is a good question, and somewhat complicated for a small business. See Figure 1 for a quick summary of what is required. In today’s rapid paced electronic world, many people are looking for a panacea software that answers all their needs. Just purchase this software and that is all you need to do. Life should be this simple, right? Well, not exactly. Just like the old computer programming adage, “garbage in, garbage out”, the software is only as good as the knowledge of the operator and the integrity and structure of the information going into the software.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
For many years government contractors have struggled with how to maintain a DCAA compliant accounting system. The original Contract Audit Manual was created in the Department of Defense in the 1950's. The Defense Contract Audit Agency (DCAA) was created in the 1960's. The original requirements for systems were obviously created prior to the use of computers in business. Now, certainly, the CAM and the DCAA have adopted with changing times and continue to change. That is not the point. I think that a lot of the regulations were designed for manual type systems and they have found a way to survive in the regulations. Even some of the most popular software programs for accounting for government contractors struggle with all the requirements. In addition, some of the programs are written on older platforms so the look and feel of the program is somewhat dated.