Government Contracts

AUGUST 27, 2024

Navy pled guilty Tuesday to accounting fraud as part of a settlement to resolve criminal and civil investigations. A shipbuilder that contracts with the U.S.

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Redstone Government Consulting

MAY 20, 2024

For cost accounting under Federal government contracts, including your contracts that are not CAS covered, deferred compensation must be measured based on the requirements of CAS 415.

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Government Contracts

AUGUST 26, 2024

Government Accountability Office has denied Ernst & Young LLP's protest over a $107.8 million accounting services deal in support of U.S. Transportation Command, awarded to KPMG LLC, finding that the agency reasonably evaluated both companies' proposals.

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GovCon Wire

JUNE 10, 2024

Nasdaq: SAIC), has joined Pyramid Systems as vice president of client account delivery. Kelli Murphy, formerly a senior principal for business development at Science Applications International Corp.

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Redstone Government Consulting

JUNE 12, 2024

The Costpoint group at Redstone Governtment Consulting concluded a great event with Deltek in April during which DCAA representatives gave a keynote session on Accounting System Requirements (or SF1408). Just reading the SF1408 can be confusing or make the requirements seem complicated.

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GovLoop

DECEMBER 19, 2023

Whether it’s a missed deadline, unprofessional behavior or maybe even a commitment issue, there are certain behaviors that supervisors have to hold their employees accountable for. Here are a few top takeaways from the session: Accountability Begins with You: “You have to think ‘me’ first,” said Smith.

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Capital Edge Consulting

AUGUST 14, 2024

Two Quick Ways to Fail DCAA T imekeeping Requirements The federal government is the biggest purchaser of goods and services, so it's important that you have a good grip on your accounting practices. DCAA’s position, as in other cost accounting practices, is that “if it isn’t documented, it didn’t happen.”

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Federal News Network

MAY 15, 2024

Sikorsky Aircraft and the Defense Department have been arguing in court for the past 17 years, over the company’s compliance with cost-accounting standards. So, what happens, if you’ve got a contract that’s subject to the full cost accounting standards, you have to submit a disclosure statement. Zach Prince Yes.

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ExecutiveBiz

JUNE 20, 2024

Jason Motte has been appointed as strategic account manager of federal mission support at Rancher Government. In his new role, Motte will use his knowledge of cyber operations and strategic initiatives to help customers embrace digital transformation, the Reston, Virginia-based company announced Thursday. Previously, Motte served as a U.S.

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Redstone Government Consulting

DECEMBER 13, 2023

Below, we’ve created a compact list of action items for your Unanet accounting system at year end. It’s the most wonderful time of the year! Please don’t hesitate to call us to walk through this year end checklist with one of our consultants to help guide you.

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Capital Edge Consulting

AUGUST 23, 2024

Two Quick Ways to Fail DCAA T imekeeping Requirements The federal government is the biggest purchaser of goods and services, so it's important that you have a good grip on your accounting practices. DCAA’s position, as in other cost accounting practices, is that “if it isn’t documented, it didn’t happen.”

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Redstone Government Consulting

JUNE 24, 2024

Cost Accounting Standard (CAS) 409 provides the criteria for assigning costs (i.e., depreciation) of tangible capital assets to cost accounting periods and allocating those costs to contracts in an objective and consistent manner.

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Redstone Government Consulting

OCTOBER 4, 2023

One key feature that makes Deltek Costpoint the top solution for government contractors is its ability to manage the segregation of direct and indirect costs , especially through its Project Account Groups.

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Redstone Government Consulting

APRIL 29, 2024

The Costpoint team at Redstone GCI recently concluded a great event with Deltek, during which DCAA representatives gave a great keynote session on Accounting System Requirements (or SF1408) , which was followed by another informative session by our group on how Costpoint meets those requirements.

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FedScoop

APRIL 11, 2024

Digital Registry, a database for tracking official government social media accounts, mobile websites, and apps. Part of the goal was to better track government social media efforts — and update an earlier federal social media registry meant to help people verify that government accounts were authentic. Government digital platforms.”

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Public Contracting Institute

JULY 5, 2024

In the complex world of government contracting, understanding and implementing Cost Accounting Standards (CAS) is crucial for success. Today, we’re diving deep into CAS 406, which focuses on establishing and adhering to cost accounting periods.

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Redstone Government Consulting

JUNE 5, 2024

CAS 404 provides the criteria for determining whether to assign the cost of a capital asset as a period expense when acquired or capitalize the item as a tangible asset and spread the cost over two or more accounting periods.

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Public Contracting Institute

MAY 14, 2024

Cost Accounting Standards (CAS) Decoded: Best Practices for Government Contractors As a government contractor, navigating the complex world of Cost Accounting Standards (CAS) can be a daunting task. Mastering CAS: The series To become a true expert in Cost Accounting Standards, consider enrolling in the CAS: The Series.

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Redstone Government Consulting

SEPTEMBER 20, 2023

The question is, will the accounting structure and approach to the company’s accounting practices have to change?

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Redstone Government Consulting

JANUARY 3, 2024

QuickBooks is considered a government-compliant accounting system and can definitely get the job done for a lot of small government contractors. However, there may come a time when you need to change your accounting system to something that is designed with government contractors in mind.

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Public Contracting Institute

JULY 8, 2024

Introduction to CAS 405 and Unallowable Costs In the complex world of government contracting, understanding and properly accounting for unallowable costs as per Cost Accounting Standard (CAS) 405 is crucial for success. Ready to enhance your CAS 405 compliance and overall contracting proficiency?

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ExecutiveBiz

NOVEMBER 29, 2023

Special Operations Command, has assumed the position of account executive for the Special Operations Command unit of SOS International. Chris Pateras , formerly director of operations at the U.S.

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ExecutiveBiz

JUNE 5, 2024

Former Internal Revenue Service Chief Information Officer Nancy Sieger has joined Guidehouse’s public sector financial services practice as a partner and IRS account leader. on Wednesday.

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ExecutiveBiz

FEBRUARY 12, 2024

Douglas Munro has assumed the position of vice president and chief accounting officer at technology firm Mercury Systems , transitioning from the role of corporate controller. He succeeds Michelle McCarthy and will oversee accounting operations and financial reporting, Mercury said Thursday.

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ExecutiveBiz

MAY 28, 2024

Traw, who possesses over 15 years of accounting and finance leadership, will be tasked with the establishment of a scalable infrastructure that maintains compliance while remaining in line with organizational goals, NSTXL said Wednesday. The National Security Technology Accelerator has appointed Jessica Traw as chief financial officer.

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Redstone Government Consulting

NOVEMBER 8, 2023

Most contractors that have contracts/subcontracts subject to full CAS coverage will eventually want to make a change to a cost accounting practice because there is a “better” allocation method or a change is required to remain in compliance with CAS.

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PNWC's Government Contracting Update

JUNE 11, 2024

This interview focuses on Accounting and Timekeeping systems and other requirements of the SF 1408 (Accounting Systems). We have no first-hand experience with this particular software although it seems to have a lot of features necessary for Government contract accounting. You can access the interview here.

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Government Contracts & Investigations

JANUARY 31, 2024

This Cost Corner focuses accounting for unallowable costs. The applicable Cost Principle is FAR 31.201-6, Accounting for Unallowable Costs. 28] Conclusion This article has addressed accounting for unallowable costs. The next edition of the Cost Corner will address penalties for expressly unallowable costs. 6] DCAM, ¶ 6-609.1.a.c.3.

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Government Contracts

NOVEMBER 9, 2023

million forfeiture from two TD Bank accounts after fraudsters swindled the New Haven school board out of $5.9 million and allegedly funneled the cash through TD Bank accounts and a cryptocurrency website. Prosecutors have asked a Connecticut federal judge to order a nearly $1.2

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GovLoop

DECEMBER 1, 2022

The Federal Flexible Spending Account Program (FSAFEDS), administered by HealthEquity, Inc., FSAFEDS provides three account options to support the needs of employees and their families. All three work by automatically deducting money from each paycheck — before payroll taxes —and putting it into an account.

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GovLoop

NOVEMBER 13, 2023

Cloud FinOps is a financial management discipline that creates accountability around cloud usage to help your agency successfully budget for this tech.

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Redstone Government Consulting

MAY 7, 2024

If you want to provide cloud-based services to Federal Agencies, you will need to get your service approved through the Federal Risk and Authorization Management Program (FedRAMP) managed by the FedRAMP Program Management Office.

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Redstone Government Consulting

FEBRUARY 7, 2024

So, you have a contract with the clause FAR 52.230-2 Cost Accounting Standards , subject to full CAS coverage. If you receive allocations from a home office, the home office must comply with CAS 403, Allocation of home office expenses to segments.

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GovSpend

DECEMBER 21, 2023

So I thought it might be good to revisit the topic of account plans, specifically as it relates to federal contracting. Having a well-developed account plan is crucial for focusing your efforts on business development and managing relationships with strategic customers. It is an essential tool for ensuring the success of any company.

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GovSpend

DECEMBER 21, 2023

So I thought it might be good to revisit the topic of account plans, specifically as it relates to federal contracting. Having a well-developed account plan is crucial for focusing your efforts on business development and managing relationships with strategic customers. It is an essential tool for ensuring the success of any company.

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Redstone Government Consulting

SEPTEMBER 29, 2023

Contractors should select the cost input base which best represents the total activity of a typical cost accounting period for the production of goods and services for the business unit. The standard requires that one of three cost input bases must be used unless there is a special allocation to a particular final cost objective.

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Open Contracting Partnership

JULY 21, 2023

David is the founder of reAcción , a grassroots anti-corruption civil society organization that empowers young people in Paraguay to fight for government transparency and social accountability. Most e-governance technology that attempts to turn citizen feedback into actionable recommendations, is really about upward accountability.

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