Internal Control Requirements under 2 CFR 200 Training Webinar
This FREE webinar will offer attendees an overview of requirements to establish and maintain an adequate system of internal controls to comply with 2 CFR 200.303.
Redstone Government Consultants are industry veterans with over 150 years of combined DCAA experience. We understand the unique nuances of its organizational structure and operating procedures. We’ve been in the auditor’s shoes and we share many years of industry management expertise. Our consultants provide unique perspectives; bringing both government and contractor proficiencies to bear and we are committed to serving government contractors. In addition to our consulting and training services, our team develops and publishes a variety of industry materials that are filled with the most relevant and current information for government contractors including our newsletter, whitepapers, and information on cutting edge current events through our blog.
This FREE webinar will offer attendees an overview of requirements to establish and maintain an adequate system of internal controls to comply with 2 CFR 200.303.
This FREE webinar gives attendees a better understanding of how a Contract Filing System helps contractors be better prepared for an audit and to improve their company’s efficiency and data quality by making files accessible and easy to locate. When auditors arrive at your location, you can access documents quickly, speeding up the audit process.
Our Commercial Item Expert, Lynne Nalley, discusses and clarifies common questions and issues associated with commercial items and Commercial Item Determinations (CID).
This FREE webinar will offer attendees an overview of why every incurred cost proposal needs to be prepared for an audit. Currently, the number of audits by DCAA is very low, especially for smaller contractors. If you get complacent and overlook things in your proposal, the DCAA auditor could view this as potential fraud. We have some best practices to help avoid this.
This FREE webinar will offer attendees an overview of the Affirmative Action Program requirements of the Office of Federal Contractor Compliance Programs (OFCCP) and a summary of the various components of a compliant Affirmative Action Plan. This webinar will explain the types of audits performed by OFCCP and provide an overview of the information which must be submitted when audited. Finally, a brief update of proposed changes to OFCCP compliance will be provided.
If you’re a government contractor, you know that deadlines are critical to success, and missing a deadline can mean losing revenue, contracts, and even legal repercussions. That’s why we’ve created the 2023 Government Contractors Deadlines – your ultimate resource for staying on top of all the critical deadlines for government contractors in 2023.
This FREE webinar will offer attendees an overview of performance-based payments.
This FREE webinar will offer attendees an overview of the individual schedules of the Incurred Cost Submission and provide specific information to the importance of each.
This FREE webinar will offer attendees an overview of the upcoming Deltek Costpoint 8.2 release as well as Deltek’s progressive approach to Cybersecurity.
What is the Incurred Cost Submission? What is Schedule O? What are the Supplemental A Schedules? This VLOG will briefly explain the Incurred Cost Submission, how to complete Schedules O and the Supplemental A Schedules, and the importance of those schedules.
This FREE webinar will offer attendees an overview of how to approach developing and providing an effective system walk-through to support a more positive and time efficient audit/review.
Learn why government contractor, Broadway Ventures, entrusts Redstone GCI and Deltek Costpoint as a scalable solution for their finance & accounting needs.
Schedules H and J are some of the most important parts of the Incurred Cost Submission. This VLOG will briefly explain the Incurred Cost Submission, how to complete Schedules H and J, and the importance of each schedule.
This FREE webinar will offer attendees an overview of some of the challenges that contractors will be facing in FY 2023 related to changes in government regulations and areas government auditors are concentrating on.
This FREE webinar will offer attendees an understanding of the importance of project setup decisions in Costpoint. Attendees will learn information about project structure decisions, revenue setup decisions and other important decision areas within the project setup. We will also discuss what role each department plays in ensuring that all contractual requirements are met.
his FREE webinar will offer attendees an overview of the regulatory background on the Defense Federal Acquisition Regulation Supplement (DFARS) Estimating Business System criteria and who and what contracts it is applicable.
Schedules B, C, D, and Fringe are some of the most important parts of the Incurred Cost Submission. This vLOG will briefly explain the Incurred Cost Submission, how to complete Schedules B, C, D, and Fringe, and the importance of each schedule.
Schedule I is the most important part of the Incurred Cost Submission and is the single area of great interest for the Government and its auditors. This VLOG will briefly explain the Incurred Cost Submission, the importance of Schedule I, and how to resolve potential issues.
This FREE webinar will offer attendees an overview of multiple ways to retrieve data from Costpoint beyond the standard PDF reports.
A White paper by John Shire, Director & Lynne Nalley, Director
Federal Acquisition Regulations (FAR) is structured significantly differently than OMB Guidance 2 CFR Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (i.e., Grants and Cooperative Agreement).
A Case Study by John Shire & Lynne Nalley
In this case study: Redstone GCI explains three scenarios to illustrate how to understand 2 CFR 200 requirements related to subrecipients vs. contractors.
Schedule K is one of the most important parts of the Incurred Cost Submission and is an area of great interest for the Government and its auditors. This VLOG will briefly explain the Incurred Cost Submission, how to complete Schedule K, and the importance of Schedule K.
This video is the second of a two-part series where we provide an overview of the position of the Department of Labor (DoL) on independent contractor classifications. This series will presents a mock audit to give you a first hand perspective of the types of questions that a Department of Labor investigators ask with regard to the all too common issue of whether or not your workers are properly classified under the law. We will provide “red flags” that are often key to the final determination of Department of Labor, and how to address them.
This video is the first of a two-part series where we provide an overview of the position of the Department of Labor (DoL) on independent contractor classifications. This series presents a mock audit to give you a first-hand perspective of the types of questions that DoL investigators ask with regard to the all too common issue of whether or not your workers are properly classified under the law. We will provide “red flags” that are often key to the final determination of DoL, and how to address them.
This FREE webinar will offer attendees an overview of interrelationship between requirements set forth in the Federal Acquisition Regulations Part 31 and the Cost Accounting Standards.
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.
A Whitepaper by John C. Shire, CPA, Director, Redstone GCI
Does Federal Acquisition Regulations (FAR) or Cost Accounting Standards (CAS) provide specific requirements when it comes to accounting for costs related to software to be sold, leased, or marketed in the future? The simple answer is “no”, however, a review of FAR Part 31 certainly supports that the cost is allowable and allocable to both individual contracts and as a benefit to more than one contract, based on the nature of the software related effort, provided the cost is reasonable. For the purposes of this whitepaper, we are going to assume the cost is reasonable in both nature and amount based on the prudent person in the conduct of competitive business test in FAR 31.201-3, determining reasonableness.
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.
CAS Standards Applicability Date List—Don’t Miss These Crucial Deadlines!
CAS Standards come with a wide variety of applicability deadlines, none of which you want to miss. To ensure you meet the deadlines, Redstone GCI has created a free downloadable list of CAS Standards, spelling out the crucial deadlines you need to plan on.
CAS Coverage—Steps in Determining Your Coverage
New to CAS and want to ensure your CAS coverage? Teetering on that Small Business Threshold? Download a copy of the CAS Coverage Decision Matrix.
The matrix offers the latest information regarding the various steps in determining your CAS coverage level. Don’t make decisions blind or assume you have the most up-to-date information before deciding you don’t meet the qualifications!
A White paper by John C. Shire, CPA, Director
Where does allowable planning end and unallowable organization begin? Two FAR clauses are at odds with each other in terms of merger/acquisition activities being allowable. Contractors need to understand where their planning activities cross the line from allowable, generalized consideration of an opportunity, to unallowable, where specific actions are taken to plan for a specific opportunity. Documenting decision-making, clarifying employee activity, and noting the point at which the organization’s decisions move from a generalized consideration to a specific opportunity plan will help avoid having salaries and employee efforts ruled unallowable by the Government.
A White paper by Asa Gilliland President & Director &
Robert L. Eldridge, CPA, Director
Due to several factors, including the desire to reduce the work for DCAA auditors, the federal government has put subcontractor audit responsibility on prime contractors. Although not specifically assigned to prime contractors in the regulation, it is assumed their responsibility. Learn why it is important for prime contractors to have guidance to monitor subcontractor awards and handle contract closeouts and audits.
A Case Study by the Redstone Team
In this case study: Redstone was able to justify and substantiate, using the weighted guidelines approach, a 7.99% fee for services versus a 6.0% fee as originally proposed by the Government, resulting is significant gain to the client.
A White paper by Robert L. Eldridge, CPA, Director
Due to an increase in the rejection of contractors’ commercial item justifications, even for those that had previously been approved, it is essential that DoD contractors identify the risks and costs involved to prevent DCAA rejection.
A white paper by Michael Steen, Senior Advisor & Robert L. Eldridge, CPA, Director
The proposed DFARS amendments related to case 2012-D042 shed light on some of the inefficiencies surrounding the DCAA auditing concerns, both in the burden shift to contractors and the financial burden of juggling both internal audits and external independent CPA audits. When combined with increased DCAA oversight, government contractors could experience oppressive auditing requirements.
A White paper by the Redstone Team
When negotiating a DoD contract, it is crucial to fully comprehend the Limitations of Funds clause to avoid later settlement agreement negotiations, which can lead to unrecoverable costs. This Armed Services Board of Contract Appeals (“ASBCA”) case spells out clearly what can happen.
A Case Study by the Redstone Team
DFARS Case 2012-D042 In this case study: Redstone was engaged to perform a mock CPSR for a multi-billion dollar utilities services company.
A White paper by Wayne Murdock, CPA
Although hourly employees are protected under FLSA (Fair Labor Standards Act), salaried employees do not enjoy the same protection. With the 2015 revision of FAR 52.237-10, all uncompensated overtime must be accounted for. DCAA and auditors are most concerned about this overtime as a requirement for an adequate accounting system. Although the CAM (Contract Audit Manual) offers plenty of guidance, it is up to contractors to fully understand and implement the accepted methods to prevent DCAA rejection.
A White paper by Michael Steen, Senior Advisor
Under FAR 52.216-7 Allowable Cost and Payment Clause, DCAA policies are vague, and even nonexistent, in some sections. Before submitting a proposal to DCAA, government contractors must ensure their incurred cost proposals (ICPs) are adequate.
A White paper by Wayne Murdock, CPA
It is important to remember that DCAA’s primary goal is to ensure the government gets a fair price for products and services, so the auditor is not visiting your location for your benefit. By knowing this, you can, however, be prepared when dealing with auditors. See why researching and educating your auditing staff can make a DCAA audit a successful experience.