Small Businesses pursuing non-dilutive funding through the National Science Foundation's SBIR/STTR program must pass a financial review prior to receiving a Phase II award. This is known as a Financial Review and CAP review. There are also requirements placed on the Phase II awardee by the award document and many small businesses are unfamiliar with both the process and the requirements for accounting and financial systems during the performance of the award. I will try here to outline briefly (a 30,000 foot view) what is required by the NSF and why.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!
Posted by Mike Anderson on Fri, Oct 16, 2020 @ 03:13 PM
Posted by Dave Donley on Wed, Jul 15, 2015 @ 09:53 AM
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
Posted by Mike Anderson on Wed, May 06, 2015 @ 06:00 AM
Many start-up businesses and small businesses are in need of a DCAA compliant accounting system but cannot afford many of the options for software that is DCAA compliant “out of the box”. These “out of the box” solutions usually include systems like Deltek CostPoint®, Deltek First Essentials®, Sage Mass 90®, Jamis Prime®, Microsoft NAV® as modified by PVBS, Procas® and ERP-Gov® to mention a few. A small business wants a system that is not too complicated for their simple structure and yet can be affordable for their limited budget and still have the capability of passing a DCAA audit. The good news is, “Yes” a system based on software like QuickBooks® can be made compliant. Normally a QuickBooks® system cannot be compliant without the addition of what I call satellite systems. The following graphic illustrates this concept:Read More
Posted by Mike Anderson on Tue, Oct 29, 2013 @ 04:18 PM
If you are a small business, working with funds from awards from the Federal Government and you don't know if your accounting system is compliant with government regulations such as the FAR, you should consider making the switch. The perfect time to switch your accounting system is the end of a fiscal year. We are approaching the end of the fiscal year for a large percentage of businesses (65% of publically traded companies in the US have a Dec. 31 fiscal year end). With the approach of a major holiday season as well, the time to consider changing your accounting system is right now. If you start working on this change now, it will be ready to operate come January first.