Thanksgiving is one of our favorite holidays because it is not about what we can receive, but what we can give. It is an opportunity to reflect on the positive and not focus on the negative that seems to surround us daily. Thanksgiving should be a state of mind we live in daily, and not confined to one day per year. Redstone GCI has a lot to be thankful for this year, we all do. We must dig deep within ourselves to see the blessing placed upon us each day and give thanks for those blessings each and every day. Above all, we are most thankful for God and His constant presence in our lives as we navigate each day and every occasion.
Quite often, in practice, we see contractors classifying too much cost as IR&D or more commonly, B&P expense. In a proposal setting, experts from across your company support the development of a compliant proposal. The question we see frequently is: “Who should be charging to B&P Projects?” While a business may want to capture the total cost of a proposal effort, including administrative support from G&A staff, it is not wise to have these personnel charge to a B&P project where their labor will absorb overhead.
As a business owner or executive, it is highly likely that you are not preparing and submitting your business tax return. After all, tax rules are complicated and submission requirements can be a little unnerving. So, for those reasons and for peace of mind knowing that your tax return is prepared correctly, a savvy business owner or executive will outsource their tax preparation to a trusted firm that specializes in taxes.
Client success stories are a huge part of our consulting efforts. Unfortunately, in many cases, due to the nature of the work we do, we can’t always congratulate our clients publicly on their successes. However, when the opportunity arises and we can offer good news about our clients, we appreciate the chance to publicly share those accomplishments, with their permission.
Our client, Main Sail, LLC is a veteran-owned small business certified in ISO 9001:2008 that helps its customers evaluate business needs, as well as develop and implement solutions in the areas of business process management, program and project management, enterprise resource planning, systems engineering and integration and staff augmentation. They provide these services to a variety of federal sector clients including the Department of Defense and related agencies (DLA, DFAS, NAVSEA, et. al) as well as many non-defense related agencies like the DOE, DOI, USDA and GSA.
Topics: Redstone GCI
Outsourcing certain administration functions within an organization has become a trending practice among government contractors. In fact, we have seen a noticeable uptick in outsourced accounting, human resources and contracts administration functions over the past year.
Whether a company chooses to outsource a certain administrative function to fill a temporary void or a permanent one, looking to subcontractors for help makes sense for a number of reasons.
As if you haven’t noticed, this year has been the year of bid proposals for government contractors. My team at Redstone Government Consulting has been working the last six months straight supporting various government contractors in the development and pricing of cost volume proposals. Fortunately for us, we have a team of consultants that can provide support for cost volume proposals and are 100% dedicated to the effort, without the distraction of other projects or responsibilities. Most small business contractors, however, do not have that luxury and the employees working the bid proposal efforts must also continue to complete their daily responsibilities associated with their already busy, “day” job.
Most contractors (those with calendar year ends) have incurred cost proposals (ICP) due to the government on June 30 and we know that preparing the incurred cost proposal can be stressful and time consuming. We have prepared 10 helpful tips for contractors to consider when preparing their ICP this year to help alleviate stress, reduce the amount of time spent preparing the ICP and most importantly to result in ICP adequacy.
Government contractors have been undergoing accounting system reviews by DCAA for years, but more recently, the adequacy of a contractors accounting system does not necessarily have to be determined by DCAA. Some Government agencies are relying on outside accounting and consulting firms to offer confidence that a government contractor has an adequate accounting system as a prerequisite for awarding a cost reimbursable contract.