Posts Tagged ‘DCAA Approval’
What Does It Take to be DCAA Compliant? 5 Things You Need to Know
Summary of Keypoints DCAA compliance exists to protect taxpayer funds and ensure accountability in Department of Defense contracts, requiring contractors to maintain accurate, transparent, and well-documented financial systems and reports. A DCAA-compliant accounting system is foundational, including proper segregation of direct and indirect costs, compliant timekeeping, consistent cost accumulation and allocation methods, and identification and…
Read MoreWhat is the DCAA? All You Need To Know as a Government Contractor
Summary of Keypoints The Defense Contract Audit Agency (DCAA) provides audit and financial advisory services to the Department of Defense and other federal agencies to ensure contractor costs are allowable, allocable, and reasonable under the Federal Acquisition Regulation (FAR). DCAA compliance applies to both prime contractors and subcontractors, including small subcontractors, when contracts are cost-reimbursement…
Read MoreHow to Prepare for DCAA Pre-Award Survey
If you are new to government contracting, prior to being awarded a flexibly priced contract, your contracting officer will request that DCAA perform a Pre-Award Survey to ensure your accounting system is adequate to account for government contracts. As you’re bidding on contracts, you’ll frequently be asked to provide a copy of an audit by…
Read MoreGraduate Certificate in Accounting for Government Contracts Soon Available at George Mason University
At Eubanks Accounting & Advisory, we bring to the table over 30 years of experience in Government Contract Consulting. We have long partnered with government contracts in order to not only assist with financial decisions, audits, and taxes, but also to help fulfill the unique needs in the field. Since it is vital for government…
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