Redstone Government Consulting Blog (42)

FAR 31.201-6(a) and CAS 9904.405-30(a) both define directly associated cost as “any cost which is generated solely as a result of incurring another cost, and which would not have been incurred had the other cost not been incurred.”  FAR 31.201-6(a) restates the definition replacing the word “which” with the word “that.”  Still a consistent view of what directly associated cost means.

There is much confusion and frustration on behalf of a contractor when it comes to forward pricing rate proposals (FPRP) and forward pricing rate agreements (FPRA).  This confusion and frustration comes from the lack of direction provided for this process in the FAR.  In this blog, we pull together the regulation and guidance associated with forward pricing so contractors can better understand the process and alleviate some of the frustration and questions which we see often.

Do you import and export? Does your company use imported components in your manufactured goods? Has your company been affected by the Section 301 Tariffs on Chinese imports?

It is 2020 and Redstone GCI presents the first The FAR Truth of the new decade! Join us as Director Bob Eldridge discusses some of the most important planning concerns as we enter the new year, including DFARS business system reviews, Accounting System Reviews for small contractors, post-award TINA reviews, and DCAA’s meticulous attention to executive compensation.

Each year’s end brings a set of additional financial close tasks to our desks. The deadline to file 1099’s is January 31^st, leaving a lot of companies scrambling to file these forms in time. Let me tell you how Unanet has automated the process for our clients using their software:

The International Chamber of Commerce (ICC) has published the new Incoterms 2020, rules that define the responsibilities of buyers and sellers for the delivery of tangible goods in international trade. The terms also identify when the risk/responsibility for those goods transfer from the seller to the buyer. The new terms took effect on January 1, 2020, and can replace the last version, which is Incoterms 2010.

Lately, we seem to be constantly reminded of the necessity of accurately identifying contracts which are (or should be) covered by the Service Contract Act (SCA) (aka Service Labor Contract Standards (SCLS)) and the subsequent labor category mapping.  Unfortunately, these reminders tend to come at quite a cost, not only financially but also as an extreme burden on your staff.  With this in mind, we decided to share some common issues and suggestions, in hopes of encouraging you to kick off the New Year with a resolution to be proactive in your compliance efforts.

Government consulting may sound like a dry line of work, but in this fun introduction, you meet the quirky team here at Redstone. Our consultants are not only experts in the field but have some funny and entertaining stories to share.

Thanksgiving is a beautiful holiday. Thanksgiving is not a time for gifts or decoration, but rather a time to reflect on the blessings received and be thankful for those blessings, even if those blessings come in the form of challenges presented to us over the past year. We say we are thankful for the challenges, as our challenges make us stronger and ultimately better. And for that, we are thankful. As most everyone knows, Redstone GCI has faced significant losses and challenges this year with the passing of our beloved leader, mentor, friend and family member, Scott Butler. Scott was special to so many people and touched the lives of us all. He knew that the future of our firm was bigger than him and made it a priority to ensure future success even without his leadership. We often say that one of Scott’s many talents was being able to see the potential in all of us and having a true gift of making everyone around him better versions of themselves. This gift from Scott still stands true, even as we continue to mourn his passing. Leaders within our firm have emerged, teamwork has never been stronger, and a true sense of family radiates with every interaction we have with each other. Scott has and will continue to make us stronger, better versions of ourselves as the true sign of a leader is not in the present, but in what they leave for those that follow.  We are thankful for Scott Butler.

UPDATED – June 18, 2024