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We assist clients with a wide range of contracting concerns arising from the Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS). We provide strategic and analytical advice in such areas as cost accounting, defective pricing, bid preparation, regulatory compliance, contract administration, and litigation support. We support clients by interpreting legislation and regulation and by developing reports on regulatory matters affecting clients. Further, we participate with clients in coping with the regulatory process and assist them in dealing with government audit and investigatory personnel. We offer objective expertise in most financial areas of government contracting. The following is an overview of available services. FEDERAL ACQUISITION REGULATION (FAR) REQUIREMENTS -- We provide technical guidance in interpreting and applying FAR rules for cost allowability and contract administration. The FAR and Department Supplements contain rules that pertain to all aspects of government contract administration and cost recovery. Cost allowability issues that arise in the audit of incurred costs are some of the more frequently disputed issues in government contracting. Recent engagements include testimony before the United States Court of Federal Claims on the allocability and the allowability of various types of costs charged to a government contract. COST ACCOUNTING STANDARDS (CAS) REQUIREMENTS -- Our professionals provide strategic guidance when CAS applies, technical support in compliance, preparing Disclosure Statements, and developing cost impact statements. Disclosure Statement preparation is critical to avoid needless delays in achieving an adequate and proper compliant Disclosure Statement. CAS impact statements are not clearly defined in the CAS and FAR regulations and are therefore difficult to prepare. We can assist in this aspect of CAS compliance. Recent engagements include preparation of a Disclosure Statement for a newly CAS-covered company. COST ALLOCATION -- By thoroughly reviewing pricing and costing practices, contractors can position themselves to recover the maximum costs possible. A troublesome aspect for many is the concept of allocability and allowability. We can review a contractor's direct and indirect costing, the basic methods of allocation, and advise them when to change. One reason to review is cost competition. In addition, the advent of Activity Based Costing (ABC) results in potential revision to cost accounting practices. We assist in assuring that ABC initiated accounting changes are compliant with the FAR and CAS. Recent projects include development of a cost structure using spreadsheet applications and data downloaded from the accounting and budgeting information systems. (page 1 of 3) Continue >>
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