Corporate

Summary of Key Points Incurred cost submissions are due within six months after fiscal year-end under FAR 52.216-7, which means June 30 for most calendar-year government contractors with cost-reimbursable, time-and-materials, labor-hour, or other flexibly priced contracts. An incurred cost submission is a comprehensive reconciliation package, not a single form. It uses the DCAA ICE model…

Summary of Key Points Outsourced controller services help growing businesses close the gap between bookkeeping and CFO-level strategy by adding financial oversight, accurate reporting, accounting system management, and compliance support without the cost of a full-time controller. A controller is responsible for making financial data reliable and useful, including month-end close, account reconciliations, accruals, revenue…

Summary of Key Points A DCAA-compliant ERP should be evaluated by what the system can actually do, not by popularity in the GovCon market. The article emphasizes that a compliant accounting system must support SF1408 pre-award survey requirements, not just market itself as “government contractor friendly.” Core DCAA ERP requirements include segregating direct and indirect…

Summary of Key Points Winning government contracts requires balancing four factors: competitiveness, realistic cost execution, audit supportability, and sustainable profit—rather than simply offering the lowest price. Underpricing to win contracts often leads to performance issues, reduced margins, and damaged past performance ratings; government evaluators actively flag unrealistic pricing through cost realism and price reasonableness reviews.…

Summary of Key Points Cash flow problems are caused by timing gaps—not lack of profit—especially during growth when expenses rise faster than incoming payments and businesses must fund operations upfront. Effective cash flow management relies on three core pillars: accelerating receivables (invoice quickly, shorten terms, track aging), controlling payables strategically (align outflows, negotiate terms, prioritize…

Summary of Key Points Forward Pricing Rate Agreements (FPRAs) establish the indirect cost rates contractors use when pricing government contract proposals. These rates typically include fringe benefits, overhead, and general and administrative (G&A) expenses, and are negotiated with contracting officers based on projections supported by historical data and compliant cost accounting practices. Developing an FPRA…