Whitepaper Total Time Accounting in the Govcon Environment - Redstone GCI
https://info.redstonegci.com/en-us/whitepaper-total-time-accounting-in-the-govcon-environmentZoomDetails

Total Time Accounting in the Govcon Environment (Uncompensated Overtime for FLSA Exempt Employees)

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A Whitepaper by John C. Shire, CPA, Director, Redstone GCI & Asa Gilliland, President & Director, Redstone Government Consulting

Based on DCAA’s track record of disregarding its own guidance on what are acceptable accounting methods for contractors incurring potentially significant amounts of uncompensated overtime, DCAA is very likely to see the risk sufficient to report what they see as a non-compliance as a significant deficiency and therefore recommend system disapproval and the implementation of a withhold.

https://info.redstonegci.com/blog/far-part-31-cost-principlesZoomDetails

FAR Part 31 Cost Principles

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This short video and article provide insights into FAR Part 31 – the Cost Principles. We explain what FAR Part 31 cost principles are, when they apply, and why they are important. We also discuss what contracts are subject to the cost principles, how they cannot apply to only some of your contracts and not others, and the impact on your accounting system to accommodate the cost principles.

Whitepaper Novation Agreements – Prime U.S. Government Contracts - Redstone GCI
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Novation Agreements – Prime U.S. Government Contracts Whitepaper

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A Whitepaper by John C. Shire, CPA, Director, Redstone GCI & Jerome S. Gabig, Attorney, Wilmer & Lee

Although technically 41 USC § 6305 prohibits the transfer of Government contracts from one contractor to another, there are times when the Government realizes it is in its best interest to waive this rule—in a document called a novation agreement. If you want the Government to recognize your transfer, you need to design and execute an agreement that protects the Government while ensuring all parties assume (or waive) rights and obligations where necessary, including those situations where subcontracts are involved. Additionally, finding the Contracting Officer is another key step in the process of executing a novation agreement, especially where contracts are large enough to be administered by DCMA. Lastly, you must ensure that risks are averted in the transfer process, the required documentation is submitted, and the format meets FAR requirements before the Government finally gives its final approval.

https://info.redstonegci.com/blog/cost-accounting-standards-casZoomDetails

https://info.redstonegci.com/blog/cost-accounting-standards-cas

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f your company no longer qualifies as a small business or is a company that wants to move from commercial contracts to negotiated contracts with the Federal Government, then this Vlog is for you. This Vlog explains how to determine when Cost Accounting Standards (CAS) apply and what are the different levels of coverage. It also discusses how to determine your CAS-covered universe and why it is important. There are three significant dollar amounts when dealing with CAS: $7.5M, $2M and $50M. Watch to find out why these are important numbers in the world of negotiated Government contracts.

https://info.redstonegci.com/blog/changing-from-subcontractor-to-prime-contractorZoomDetails

Changing from Subcontractor to Prime Contractor

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Listen to a few questions your organization should answer if moving to a prime role is on your radar. This change will affect your business operations, therefore your staff should take into consideration this change and how to plan moving forward. From proposal development to subcontract management, your organization may experience some growing pains.