Redstone Government Consulting Blog | Compliant Accounting Infrastructure

FAR 1.604 allows a contracting officer (CO) to designate a representative to assist the CO in the technical monitoring and administration of a contract. The CO authorizes the contracting officer’s representative (COR) to perform many important tasks to assist the CO in administrating the contract during performance. However, FAR 1.602-2(d)(5) specifically prohibits the CO from authorizing the COR “to make any commitments or changes that affect price, quality, quantity, delivery, or other terms and conditions of the contract nor in any way direct the contractor or its subcontractors to operate in conflict with the contract terms and conditions.”

Topics: Compliant Accounting Infrastructure, Contracts & Subcontracts Administration, DCAA Audit Support, Government Regulations, Federal Acquisition Regulation (FAR), REAs, Claims & Terminations

Does the Government find most of the cost incurred by a contractor to be reasonable? I must say it does appear that way. Defense Contract Audit Agency (DCAA) FY 2023 Report to Congress shows that of the $186B incurred cost audited, there was only $1.1B in audit exceptions (.6%). So, the world is good, and we can move on. If that were only the case. Remember that while this percentage is low, this is money you have already spent that the Government will not pay you for, which directly impacts your bottom line.

Topics: Compliant Accounting Infrastructure, Incurred Cost Proposal Submission (ICP/ICE), Small Business Compliance, DFARS Business Systems, DCAA Audit Support, Government Regulations, Federal Acquisition Regulation (FAR)

Costpoint’s automated overtime calculation streamlines your payroll process, ensuring compliance and reducing administrative burden. By leveraging Deltek’s Time & Expense module, you can configure custom overtime rules that automatically align with your company’s policies and state or federal labor laws. After updating the Overtime Hours Rules tab to reflect your companies’ business rules and to abide by state and/or federal labor laws and verifying the Pay Types Links subtask is correctly configured, which both can be found on the Timesheet Classes screen, along with changes within a few control screens in Time & Expense, you can ensure that your employees are documenting their time in accordance with your company’s policies and in compliance with any agreements you may have.

Topics: Compliant Accounting Infrastructure, Small Business Compliance, Government Regulations, Deltek Costpoint

While the cost principle is titled “Rental Costs,” it addresses the cost of renting and leasing real and personal property utilized in the performance of US Government procurement contracts and subcontracts. The way I read the cost principle, FAR 31.205-36(b) provides that rental and leasing costs are allowable with the following limitations:

Topics: Compliant Accounting Infrastructure, Litigation Consulting Support, Contracts & Subcontracts Administration, Government Regulations, Federal Acquisition Regulation (FAR)

On November 7, 2024, the Armed Services Board of Contract Appeals (ASBCA) issued a decision that every small business needs to read. ASBCA Case 62458 Left Hand Design Corporation Decision explains exactly how the Federal Acquisition Regulation (FAR) implements the statutorily required penalties through FAR 42.709-6, Waiver of the penalty, and provides a cautionary tale for small businesses or large businesses that are new to government contracting.

Topics: Compliant Accounting Infrastructure, Contracts & Subcontracts Administration, Government Regulations, Federal Acquisition Regulation (FAR)

Mastering efficiency, ensuring compliance, and driving growth is a constant challenge for government contractors. Amidst these challenges, enterprise resource planning (ERP) systems like Deltek Costpoint emerge as indispensable tools for streamlining operations, managing finances, and facilitating decision-making. However, the true power of Costpoint lies not just in its software capabilities but in the hands of well-trained users who can leverage its functionalities to their fullest extent. Comprehensive training is a vital step toward maximizing the system’s value and driving organizational success.

Topics: Compliant Accounting Infrastructure, Government Compliance Training, Deltek Costpoint

FAR Part 36 - Construction and Architect-Engineer Contracts provides the direction to contracting officer on the expected processes and requirements around contracting for construction and Architectural and Engineering (A&E) services. Part 36 addresses construction and A&E separately and we have included some of the key areas below.

Topics: Compliant Accounting Infrastructure, Proposal Cost Volume Development & Pricing, Government Regulations, Cost Accounting Standards (CAS), Federal Acquisition Regulation (FAR), Commercial Item Determination, Federal Construction Contracting

Unanet provides a comprehensive suite of features tailored to help government contractors efficiently manage people and projects. These features are designed not only to enhance cost control and profitability but also to improve overall performance while ensuring compliance with complex government regulations. At Redstone GCI, we’ve seen firsthand how proper implementation of Unanet can streamline operations, significantly reducing processing costs compared to outdated or manual systems. With its robust capabilities, Unanet is built to meet the stringent requirements of federal government timekeeping and expense reimbursement, making it a valuable tool for contractors aiming to maintain compliance and improve operational efficiency. Our team specializes in helping government contractors unlock the full potential of Unanet, ensuring it is implemented and utilized effectively to deliver maximum value.

Topics: Compliant Accounting Infrastructure, DCAA Audit Support, Unanet

Both the Federal Acquisition Regulations (FAR) used by Federal Agencies to acquire products and services to support their operations and 2 Code of Federal Regulations (CFR) 200 used by Federal Agencies for grants to support Federal programs set forth requirements that the organizations awarded contracts or grants have an established purchasing/procurement systems. Before getting a procurement under a grant, you must determine if any lower-tier organization is either a subrecipient or a contractor (read more in this article, “Understanding your Lower-Tier Relationships with Subrecipient and Contractor Determinations under 2 CFR 200.” In this article, we are only dealing with contractors under 2 CFR 200 and subcontractors under the FAR.

Topics: Compliant Accounting Infrastructure, Contracts & Subcontracts Administration, Contractor Purchasing System Review (CPSR), Government Regulations, Federal Acquisition Regulation (FAR), Grants & Cooperative Agreements (2 CFR 200)

Normally, I make numerous references to the Federal Acquisition Regulations (FAR) when writing. However, there is only one FAR reference for this topic, and then we must turn to the Accounting Standards Codification (ASC). In this case, that single FAR reference is FAR 31.201-2(a)(3).

Topics: Compliant Accounting Infrastructure, Incurred Cost Proposal Submission (ICP/ICE), DCAA Audit Support, Federal Acquisition Regulation (FAR)