Are you in Compliance with the Financial Rules for 8(a) Companies?
|
|
- Garey Chase
- 8 years ago
- Views:
Transcription
1 Are you in Compliance with the Financial Rules for 8(a) Companies?
2 Sales Less than $1M Withdrawals exceeding $250,000 are considered excessive. Compiled financial statements are required within 90 days after fiscal year end.
3 Sales $1M - $2M Withdrawals exceeding $300,000 are considered excessive. Compiled financial statements are required within 90 days after fiscal year end.
4 Sales Greater than $2M Withdrawals exceeding $400,000 are considered excessive. Sales $2M - $10M Reviewed financial statements are required within 90 days after fiscal year end. Sales Greater than $10M Audited financial statements are required within 120 days after fiscal year end.
5 Withdrawals Include but are not limited to: Cash Dividend Distributions in excess of amounts needed to pay corporation or partnership taxes Cash and property withdrawals Payments to immediate family members not employed by the Participant Bonuses to officers Investments on behalf of an owner
6 Primary NAICS Code Can request SBA to change. Will grant if majority of total revenues during 3 year period have evolved from one NAICS code to another.
7 Personal Financial Information for Each Disadvantaged Owner: Adjusted gross income (3 year average) must be less than $250,000 for initial eligibility and less than $350,000 for continued eligibility. Adjusted net worth must be less than $250,000 for initial eligibility and less than $750,000 for continued eligibility. Total assets fair market value must be less than $4M for initial eligibility and less than $6M for continued eligibility.
8 Gross Income Gross Income is defined as the gross income shown on the federal tax return.
9 Joint Ventures The 8(a) firm must perform at least 40% of the work of each 8(a) joint venture contract that is awarded, including those awarded under a Mentor/Protégé agreement.
10 DCAA Audits Accounting System Financial Capability Audits Price Proposal Audits Labor Floorcheck Audits
11 Accounting Systems Audits Performed prior to or after receiving the signed contract Audit goal: give an opinion of your system It is not the software, it s your practices Pre-award audit: acceptable for the award? Post-award audit: GAAP, direct and indirect cost segregation, job cost/project cost ledger, indirect costs allocation, time keeping system, unallowable costs.
12 Financial Capability Audit Expect it if you are a small business starting out or your new contract is significantly larger than any previous ones One of the longer audit programs; has 2 parts 1. Financial condition risk assessment Internal controls, financial ratio trends, payment of payroll tax 2. Financial capability audit Cash flow projections, payment of A/P, loan covenants, etc.
13 Price Proposal Audits Two audit programs: 1. Proposals under $10 million 2. Proposals over $10 million Purpose: to evaluate the proposal for reasonableness and ascertain its acceptability for determining a fair and reasonable price. DCAA does not always agree with the contractor s definition of fair and reasonable. DCAA will use cost principles in FAR Par 31.
14 Labor Floorcheck Audits Were you asked to provide a listing of employees? The floorcheck is coming! Contractor s compliance with its internal controls and procedures The reliability of employee time records Are employees actually working? Are employees performing their assigned job classifications? Is time being charged to the proper cost objectives?
15 Prepare for DCAA audit Ask questions of the DCAA Auditor: What type of audit are you doing? Who requested the audit? What types of documents do you need me to have available when you visit? Who do you need me to have available at the visit? Do you need an office to work in, and if so, for how long? Do not hesitate to ask the auditor to explain anything you do not understand
16 Prepare for DCAA audit Find a trusted source who can help implement an adequate accounting system and practices Be ready to demonstrate your financial capability to perform each contract Develop and implement adequate internal controls and policies and procedures
17 CONTACT US Cindy Lennard, CPA, Tax Manager Phone:
18 JOIN OUR CONVERSATION Website Blog Site
19 Questions?
GOVERNMENT ACCOUNTING REQUIREMENTS
GOVERNMENT ACCOUNTING REQUIREMENTS Basic Accounting Systems Time Reporting DCAA Encounters CRITICAL ELEMENTS OF AN ACCOUNTING SYSTEM Designed in Accordance with GAAP Proper Segregation of Direct and Indirect
More informationAccounting System Requirements
Basic Financial Requirements for Government Contracting The views expressed in this presentation are DCAA's views and not necessarily the views of other DoD organizations Accounting System Requirements
More informationHow to Survive a DCAA Audit
How to Survive a DCAA Audit www.paulgunn.com 1 How to Survive a DCAA Audit - Overview Areas of interest and expectations of a typical audit: 1. Introduction o 2. The DCAA and Types of audits 3. Preparing
More informationDCAA Guidelines. How the SBIR firm can work effectively with the Defense Contract Audit Agency
DCAA Guidelines How the SBIR firm can work effectively with the Defense Contract Audit Agency Today s Presenters OUTLINE Presenter Introduction DCAA & DCMA DCAA Overview Types of DCAA Audits What it takes
More informationPre-Award Accounting Systems
Pre-Award Accounting Systems 2013 National SBIR Conference Christopher Andrezze, CPA Special Assistant to the Deputy Director May 16, 2013 The views expressed in this presentation are DCAA's views and
More informationAccounting Systems: Complying with FAR Requirements. John S. Sroka, CPA Acquisition Cost/Price Analyst
Accounting Systems: Complying with FAR Requirements John S. Sroka, CPA Acquisition Cost/Price Analyst Background Information FAR Requirements FAR Part 9: Contractor Qualifications FAR Part 16: Cost-reimbursement
More informationDCAA and the Small Business Innovative Research (SBIR) Program
Defense Contract Audit Agency (DCAA) DCAA and the Small Business Innovative Research (SBIR) Program Judice Smith and Chang Ford DCAA/Financial Liaison Advisors NAVAIR 2010 Small Business Aviation Technology
More informationWomen Accessing Capital Training 207:
Women Accessing Capital Training 207: Setting up an Accounting System For Government Contractors Course Instructor: Michelle Hoffman, CPA CEO, Hoffman CFO Consulting The Voice for Women in Business in
More informationBasic Financial Requirements for Government Contracting
Basic Financial Requirements for Government Contracting 2014 National SBIR/STTR Conference The views expressed in this presentation are DCAA's views and not necessarily the views of other DoD organizations
More informationAudit Expectations for Small Businesses
Audit Expectations for Small Businesses DEFENSE CONTRACT CONSULTING Joseph A. Dalton, CGFM/CFE/CAP Over 31 Years -Supervisory/Auditor Service- DCAA Retired Captain, U. S. Naval Reserve 1996 BUSINESS NO.
More informationHow to Establish an SBIR Accounting System that Can Withstand a Government Audit
In cooperation with Connecticut Innovations 4/16/14 How to Establish an SBIR Accounting System that Can Withstand a Government Audit Edward G. Jameson, CPA Managing Partner Jameson & Company, CPAs www.jamesoncpa.com
More informationDEFENSE CONTRACT AUDIT AGENCY
DEFENSE CONTRACT AUDIT AGENCY Fundamental Building Blocks for an Acceptable Accounting System Presented by Sue Reynaga DCAA Branch Manager San Diego Branch Office August 24, 2011 Report Documentation Page
More informationAccounting Principles Critical to Success Presented By: C. P. Krishnan. www.cakintl.com
Accounting Principles Critical to Success Presented By: C. P. Krishnan Basic Accounting You Need to Know Assets, Liabilities, Equity, Income, & Expenses Assets Includes what you have and what people owe
More informationHow to Establish an SBIR Accounting System that Can Withstand a Government Audit
In cooperation with Connecticut Innovations 2/27/14 How to Establish an SBIR Accounting System that Can Withstand a Government Audit Edward G. Jameson, CPA Managing Partner Jameson & Company, CPAs www.jamesoncpa.com
More informationPreaward Survey of Prospective Contractor Accounting System
Activity Code 17740 B-1 Planning Considerations Preaward Survey of Prospective Contractor Accounting System Purpose and Scope The major objectives of this audit are to obtain an understanding of the accounting
More informationPresenting the Numbers: Accounting Systems for Government Contractors
Presenting the Numbers: Accounting Systems for Government Contractors William D. Craven, CPA Senior Cost/Price Analyst CH2M HILL Plateau Remediation Company William D. Craven, CPA, CMA, CIA Cost/Price
More informationPreaward and Post Award Accounting System Audits. November 17, 2011 Pikes Peak NCMA Roland Wick
Preaward and Post Award Accounting System Audits November 17, 2011 Pikes Peak NCMA Roland Wick OVERVIEW This presentation will provide: 1. The basic criteria for the Preaward and Post Award accounting
More informationIs Your Accounting System Making the Grade? Attributes of an Acceptable Accounting System April 26, 2012
Is Your Accounting System Making the Grade? Attributes of an Acceptable Accounting System April 26, 2012 2012 All Rights Reserved 805 King Farm Boulevard Suite 300 Rockville, Maryland 20850 301.231.6200
More informationSlide 1. Slide 2. Slide 3 Standard Form 1408 ACCOUNTING SYSTEM ESSENTIALS
Slide 1 Slide 2 ACCOUNTING SYSTEM ESSENTIALS P r e p a r e d f o r Alliance Northwest 2014 By T e r r y S. N u z z o, C P A, C G M A P a c i f i c N o r t h w e s t C o n s u l t a n t s, L L C Slide 3
More informationDCAA Compliant Accounting Systems
DCAA Compliant Accounting Systems State Designated as Florida s Principal Provider of Business Assistance [ 288.001, Fla. Stat.] Helping Businesses Grow & Succeed About Your Presenter Jenny W. Clark With
More informationCHAPTER 2. 2-000 Preaward Surveys of Prospective Contractor Accounting Systems
CHAPTER 2 2-000 Preaward Surveys of Prospective Contractor Accounting Systems 2-101 Preaward Survey Overview A preaward survey is an evaluation, usually made by the cognizant contract administration office,
More informationDCAA Current Trends and Practices. SCS GovCon Seminar October 24, 2013
DCAA Current Trends and Practices SCS GovCon Seminar October 24, 2013 What s Hot 2 Incurred Cost Submissions Requirements Common Deficiencies Closer Cost Scrutiny Travel Costs Restructuring Costs Consultant
More informationPreaward Survey of Prospective Contractor Accounting System Checklist
PRE-AWARD SURVEY (SF 1408) OF PROSPECTIVE CONTRACTOR ACCOUNTING SYSTEM Date: XX/XX/201X Company Name, Contract Number, and Full Address: Commercial and Government Agency (CAGE) Code Number: (found at http://www.dlis.dla.mil/cage_welcome.asp)
More informationThe Essential Role of Adequate Accounting Systems for Government Contractors
The Essential Role of Adequate Accounting Systems for Government Contractors Jerrold Rosenberg, CPA, CFP Judith H. Lasley, CPA John Pace, CPA, CVA February 29, 2012 American Legion Washington Conference
More informationWhat Exactly is an Acceptable Accounting System?
What Exactly is an Acceptable Accounting System? Kristen Soles, CPA Member Stephanie Widzinski, CPA Senior Manager September 27, 2012 Agenda Review DFARS Business System Rule What Agency is Responsible
More informationIf you require a copy of this presentation, please provide your contact information to either Christopher Weir or Bob Eyer and we will be sure to
How do I survive an audit of an incurred cost submission? If you require a copy of this presentation, please provide your contact information to either Christopher Weir or Bob Eyer and we will be sure
More informationWELCOME. Accounting Systems for DOD Contracts
WELCOME Accounting Systems for DOD Contracts Moderator: Layli Pietri, Small Business Manager, Balfour Beatty Construction Speaker: Kay Papin, Government Compliance Manager, McCarthy Group Inc. Accounting
More informationYou've successfully subscribed to this feed! Updated content can be viewed in Internet Explorer and other programs that use the Common Feed List.
Page 1 of 5 You've successfully subscribed to this feed! Updated content can be viewed in Internet Explorer and other programs that use the Common Feed List. View my feeds DCAA News Thursday, May 28, 2009,
More informationImplementing a FAR Part 31 Compliant Cost Accounting System
Implementing a FAR Part 31 Compliant Cost Accounting System Breakout Session #: F11 Presented by: Robert E. Jones, CFCM, CCCM Date: July 23, 2013 Time: 4:00 PM 5:15 PM Agenda 1. Choosing a System 2. Designing
More informationAccounting System Requirements
Accounting System Requirements Further information is available in the Information for Contractors Manual under Enclosure 2 The views expressed in this presentation are DCAA's views and not necessarily
More informationTHE DCAA AUDIT BECOMING DCAA COMPLIANT
THE DCAA AUDIT Created to oversee government spending on behalf of the American tax-payer, the Defense Contract Audit Agency (DCAA) is responsible for supervising all Department of Defense (DoD) contracts.
More informationManaging Cost Type Contracts
Managing Cost Type Contracts October 9, 2013 By: Tom Marcinko Donna Dominguez 2013 All Rights Reserved 805 King Farm Boulevard Suite 300 Rockville, Maryland 20850 301.231.6200 P 301.231.7630 F www.aronsonllc.com
More informationWHAT MAKES AN ACCOUNTING SYSTEM COMPLIANT
WHAT MAKES AN ACCOUNTING SYSTEM COMPLIANT Presented by: Laura Davis OVERVIEW Why Do I Need a Compliant Accounting System Auditor s Judgment Definitions Key Components Audits How to be prepared for an audit
More informationDCAA Our Role. Laura Cloyd-Hall, CPA, MBA John D. Mollohan II, CPA, CFE. Page 1. DCAA 1965-2015: Celebrating 50 Years of Excellence
DCAA Our Role Laura Cloyd-Hall, CPA, MBA John D. Mollohan II, CPA, CFE DCAA 1965-2015: Celebrating 50 Years of Excellence Page 1 Topics About DCAA Typical DCAA Audits for Small Businesses Basic Roles of
More informationALLIANCE SOUTH 2010. Alliance South CFO Leasing Accounting Requirements 12/07/2010. CFO LEASING, INC. (404) 209 8959 www.cfoleasing.
ALLIANCE SOUTH 2010 YOU YOU HAVE THE CONTRACT NOW WHAT?? Kevin Bryan Grimes www.cfoleasing.com info@cfoleasing.com (404) 209-8959 Kevin Grimes is a Compliance Consultant with CFO Leasing, Inc. He has over
More information5 Ways of Financing Your Growth
5 Ways of Financing Your Growth Kwesi Rogers President & CEO Federal National Commercial Credit In this whitepaper, you will learn five ways of financing your growth. It will show the opportunity and challenges
More informationTime s Up: DCAA s Renewed Focus on Incurred Cost Submissions
Time s Up: DCAA s Renewed Focus on Incurred Cost Submissions Nicole Mitchell, CPA Donna Dominguez Aronson LLC May 1, 2013 2013 All Rights Reserved 805 King Farm Boulevard Suite 300 Rockville, Maryland
More informationDefense Contract Audit Agency NAVAIR Small Business Aviation Technology Conference
Defense Contract Audit Agency NAVAIR Small Business Aviation Technology Conference November 29-30, 2006 t Defense Contract Audit Agency Established in 1965 Separate Agency of the Department of Defense
More informationEnsure Compliance For Government Contractors
Ensure Compliance For Government Contractors Topics Overview NeoSystems Corp 2009-2012 ENSURE COMPLIANCE FOR GOVERNMENT CONTRACTORS TABLE OF CONTENTS V15C Learning Objectives... 4 Introduction... 5 Government
More informationFAR UPDATE 52.216-7, Allowable Cost and Payment (Jun 2013)
FAR UPDATE 52.216-7, Allowable Cost and Payment (Jun 2013) "It's never too early to prepare for your incurred cost submission (A webinar sponsored by Pleasant Valley Business Solutions) 1 Objective Know
More informationREAL-TIME LABOR EVALUATIONS. The views expressed in this presentation are DCAA's views and not necessarily the views of other DoD organizations
REAL-TIME LABOR EVALUATIONS The views expressed in this presentation are DCAA's views and not necessarily the views of other DoD organizations 1 Real-Time Labor Evaluation What is a Real-Time Labor Evaluation?
More informationAudit Guide for Consulting Services Cost Rates. March 11, 2015
Audit Guide for Consulting Services Cost Rates March 11, 2015 Columbus Regional Airport Authority Audit Guide for Consulting Services Cost Rates TABLE OF CONTENTS: History... 3 Page Purpose and Objectives...
More informationThank You for Joining Us, The Webinar Will Begin Shortly. While you are waiting please check out the Upcoming Webinars on www.giveme5.com.
Thank You for Joining Us, The Webinar Will Begin Shortly. While you are waiting please check out the Upcoming Webinars on www.giveme5.com. Before we begin just a few notes: During the presentation lines
More informationPresented by Albert D. Goldwasser, CPA Government Contractor Consultant
Presented by Albert D. Goldwasser, CPA Government Contractor Consultant Agenda DCAA s Objectives Accounting 101 Indirect Cost Allocations SF 1408 Passing the DCAA Audit References What does the DCAA want?
More informationPost Award Accounting System Audit at Nonmajor Contractors
Activity Code 17740 B-1 Planning Considerations Post Award Accounting System Audit at Nonmajor Contractors To provide general guidance for the audit of the adequacy and suitability of nonmajor contractor
More informationCracking the ICE: Ensuring a Compliant Incurred Cost Submission. Carlos Alvarado, VP, FP&A
Cracking the ICE: Ensuring a Compliant Incurred Cost Submission Carlos Alvarado, VP, FP&A Agenda Introduction Incurred Cost Proposal ICE Model Leveraging Reporting Applications Inadequacy Letters Q&A 2
More informationCONSULTANT AUDIT GUIDE
CONSULTANT AUDIT GUIDE TABLE OF CONTENTS Preface Page 2 Part I. Introduction Page 4 Part II. Definitions Page 6 Part III. Role of the State External Auditor in Accepting Overhead Audits Performed by Others
More informationGovernment Accounting, Estimating, and Billing Systems: Pitfalls and Answers
Curtis Matthews, Managing Partner Government Accounting, Estimating, and Billing Systems: Pitfalls and Answers Findley Gillespie, Senior Manager May 18, 2011 1 The material appearing in this presentation
More informationFREQUENTLY ASKED QUESTIONS
THE TECHNOLOGY BUSINESS TAX CERTIFICATE TRANSFER PROGRAM FREQUENTLY ASKED QUESTIONS These questions and answers are meant to provide general guidance regarding a number of often misunderstood components
More informationFinancial Statements Years Ended September 30, 2012 and 2011. LB&B Associates Inc.
Financial Statements Years Ended September 30, 2012 and 2011 LB&B Associates Inc. LB&B Associates Inc. Contents Page Report of Independent Auditors 1 Financial Statements Balance Sheets 2 Statements of
More informationHow To Audit A Government Contractor
Activity Code 17740 Version 6.11, dated November 2015 B-1 Planning Considerations Preaward Survey of Prospective Contractor Accounting System Audit Specific Independence Determination Members of the audit
More informationHow to set up a people based. accounting system that makes your. small business work for you. Thomas G. Post. Certified Public Accountant 281-351-2688
How to set up a people based accounting system that makes your small business work for you. By Thomas G. Post Certified Public Accountant 281-351-2688 www.texastaxman.com 1 Title How to set up a people
More informationContracting officers may have WOSB- or EDWOSB-only contract competitions if the contract meets the following requirements:
Program overview The Women-Owned Small Business (WOSB) Federal Contract Program promotes competition for certain federal contracts for eligible: Women-owned small businesses (WOSBs) or Economically disadvantaged
More informationAdvanced Placement (AP) Accounting
Advanced Placement (AP) Accounting The Advanced Placement (AP) Accounting Course is a full academic year course. The course is based on high school teachers having 120 contact hours with students from
More informationAudit of Cash Balances
Audit of Cash Balances Chapter 23 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 23-1 Learning Objective 1 Show the relationship of cash in the bank to the various transaction
More informationHAGA Newsletter. Words of Wisdom. Important Dates. The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010
Brad Garland From: Sent: To: Subject: Brad Garland on behalf of news Thursday, January 06, 2011 9:53 AM news HAGA Newsletter HAGANewsletter 400MeridianStreet,Suite201 Huntsville,Alabama35801 2565398002
More informationIncurred Cost Submissions. John S. Sroka, CPA Acquisition Cost/Price Analyst
Incurred Cost Submissions John S. Sroka, CPA Acquisition Cost/Price Analyst Incurred Cost Proposals Allowable cost and payment clause requires the submission (FAR 52.216-7) Requires a signed certification
More informationEffective Monitoring of Outsourced Plan Recordkeeping and Reporting Functions
PLAN ADVISORY Effective Monitoring of Outsourced Plan Recordkeeping and Reporting Functions PLAN ADVISORY Table of Contents Introduction 3 Selecting and Monitoring Third-Party Service Providers 4 Quality
More informationPost Award Accounting System Audit at Nonmajor Contractors
Activity Code 17741 Version 3.1, dated November 2015 B-01 Planning Considerations Post Award Accounting System Audit at Nonmajor Contractors Audit Specific Independence Determination Members of the audit
More informationStatement of Cash Flows
THE CONTENT AND VALUE OF THE STATEMENT OF CASH FLOWS The cash flow statement reconciles beginning and ending cash by presenting the cash receipts and cash disbursements of an enterprise for an accounting
More informationCertificate of Accounting, Billing and Property System Adequacy
Certificate of Accounting, Billing and Property System Adequacy This certifies that, to the best of my knowledge and belief, Contractor s Accounting, Billing and/or Property System and related internal
More informationINSPECTOR GENERAL UNITED STATES POSTAL SERVICE
OFFICE OF INSPECTOR GENERAL UNITED STATES POSTAL SERVICE Trends and Systemic Issues in Defense Contract Audit Agency Audit Work for Fiscal Years 2009-2012 Management Advisory Report Report Number March
More informationLabor Costs Interpretive Guidance Labor Costs: Timekeeping, Direct Labor Base, Labor Transfers & Direct to Indirect Labor Ratio
Labor Costs Interpretive Guidance Labor Costs: Timekeeping, Direct Labor Base, Labor Transfers & Direct to Indirect Labor Ratio External Audits Architectural and Engineering (A&E) Contracts This Document
More informationwww.safemt.com The Premium Audit Process How we determine your workers compensation premiums.
www.safemt.com The Premium Audit Process How we determine your workers compensation premiums. Are You Hiring Independent Contractors? If you hire someone to do work for you who is not your employee, you
More informationSurviving a DCAA. Audit. Nicole Mitchell, CPA Director Aronson LLC. March 29, 2011
Surviving a DCAA Incurred Cost Submission Audit Nicole Mitchell, CPA Director Aronson LLC March 29, 2011 2011 All Rights Reserved 805 King Farm Boulevard Suite 300 Rockville, Maryland 20850 301.231.6200
More informationInterpretive Guidance Document. Uncompensated Overtime. Architectural & Engineering Firm Indirect Costs WSDOT
Interpretive Guidance Document Uncompensated Overtime Architectural & Engineering Firm Indirect Costs WSDOT Internal Audit Office This Interpretive Guidance Document will address Uncompensated Overtime,
More informationBulletin 2009-002. Reporting Federal Student Loans Adult Education
Date Issued: February 2, 2009 Bulletin 2009-002 TO: FROM: SUBJECT: School District Treasurers Independent Public Accountants Mary Taylor, CPA Auditor of State Reporting Federal Student Loans Adult Education
More informationF INANCIAL S TATEMENTS AND S UPPLEMENTAL S CHEDULE
F INANCIAL S TATEMENTS AND S UPPLEMENTAL S CHEDULE Medical Information Technology, Inc. Profit Sharing Plan Years Ended December 31, 2011 and 2012 With Report of Independent Auditors Ernst & Young LLP
More informationInstructions Forming a Delaware Corporation
Contact Information State Business Entities Department: Delaware Department of State Division of Corporations Mailing Address: 401 Federal Street Suite 4 Dover, DE 19901-3639 Physical Address: 401 Federal
More informationComplying With DCAA (Defense Contract Audit Agency)
Complying With DCAA (Defense Contract Audit Agency) Project Cost Accounting for Government Contractors EXECUTIVE GUIDE SERIES November 2007 Executive Summary In a commercial contract, the deliverable is
More informationFinancial Management Guide for Government Contractors
Financial Management Guide for Government Contractors Overview You are a Government Contractor or wish to be a Government Contractor. Congratulations. It is important you know that the challenges facing
More informationGovernment Contract Accounting Are You DCAA Compliant? Procurement Technical Assistance Program (PTAP)
Government Contract Accounting Are You DCAA Compliant? Procurement Technical Assistance Program (PTAP) NH Presentation October 20, 2010 Presented by: Fred Kline, MBA, CPA Tom Martin MBA, CPA Malcolm Young,
More informationFederal Regulatory Compliance Best Practices Washington Technology Webcast. September 27, 2012
Federal Regulatory Compliance Best Practices Washington Technology Webcast September 27, 2012 Agenda Topic Minutes Regulatory compliance overview 5 Major areas of financial compliance risk 15 Best practices
More informationThe Changing Government Contractor Environment
The Changing Government Contractor Environment 1 Federal Government Contracting DCAA FY 2014 Report to Congress DCAA Audit Guidance Business systems Federal regulatory rule changes State Contracting (Dept.
More informationPerformance and Payment Bonds
Performance and Payment Bonds Submission Requirements 1) Request for Performance and Payment Bonds. (Forms attached for your convenience, please return only with a Performance and or Payment Bond Request.
More informationBond Funds Compliance Monitoring Internal Audit
Bond Funds Compliance Monitoring Internal Audit December 2014 Bernalillo County Internal Audit Bond Funds Compliance Monitoring Executive Summary SUMMARY OF PROCEDURES REDW performed an internal audit
More informationWorking Together on Small Businesses. Joint presentation by the Canada Revenue Agency and the Chartered Professional Accountants of Canada
Working Together on Small Businesses Joint presentation by the Canada Revenue Agency and the Chartered Professional Accountants of Canada Purposes Small business owner/operators are the largest group of
More informationExecutive - Salary Guide
Salary Guide Executive - Salary Guide Chief Financial Officer $138,000 to $250,000+ Highest ranking financially-oriented position within a company. Responsibilities include overall financial control and
More informationSUBCHAPTER G CONTRACT MANAGEMENT PART 842 CONTRACT ADMINISTRATION AND AUDIT SERVICES
SUBCHAPTER G CONTRACT MANAGEMENT PART 842 CONTRACT ADMINISTRATION AND AUDIT SERVICES Sec. 842.000 Scope of part. 842.070 Definitions. Subpart 842.1 Contract Audit Services 842.101 Contract audit responsibilities.
More informationIntroduction to Accounting - I
USQ UNIVERSITY OF SOUTHERN QUEENSLAND MBA - ACC5502 Accounting & Financial Management / S1 / 2013 Introduction to Accounting - I M B G Wimalarathna (ACA, ACMA, ACIM, SAT, ACPM)(MBA USJ/PIM) Introduction
More informationInternational Financial Reporting Standards (IFRS)
FACT SHEET September 2011 IAS 7 Statement of Cash Flows (This fact sheet is based on the standard as at 1 January 2010.) Important note: This fact sheet is based on the requirements of the International
More informationSubmitting a Quality Report. Presented by Laura Davis, Strategic Consulting Solutions, Inc.
Submitting a Quality Report Presented by Laura Davis, Strategic Consulting Solutions, Inc. Started in 2004 Based in Oak Ridge, TN Offices in Charleston, SC & Fayetteville, NC Focus on Government Contracting
More informationCurrent Initiatives May 2015
DHG 20 th Annual Government Contracting Update Current Initiatives May 2015 Mr. Ken Saccoccia Deputy Director Page 1 One Agency One Mission DCAA Overview Priorities and Better Buying Power Small Business
More information4 Essentials to Becoming a Successful Government Contractor
4 Essentials to Becoming a Successful Government Contractor Synergy Business Solutions W H I T E P A P E R RULES TOOLS CONTROLS SCHOOLS How to tap software and expertise to excel in government compliance
More informationTHE PREFERRED STOCK DILEMMA OF APPLLO TECHNOLOGY: THE IMPACT OF SFAS #150
Global Perspectives on Accounting Education Volume 5, 2008, 55-62 THE PREFERRED STOCK DILEMMA OF APPLLO TECHNOLOGY: THE IMPACT OF SFAS #150 Loren Margheim School of Business Administration University of
More informationAudit Issues In Government Subcontracting
Audit Issues In Government Subcontracting Breakout Session E Brent A. Calhoon, CPA, Partner, Baker Tilly Virchow Krause, LLP Janie L. Maddox, CPCM, Fellow, Thursday, March 27 1:30pm 2:45pm Agenda 1. Introductions
More informationNo. 8: Avoid Wild Pitches with Overhead Allocation BY MIKE ODE
No. 8: Avoid Wild Pitches with Overhead Allocation BY MIKE ODE No. 8: Avoid Wild Pitches with Overhead Allocation Editor's Note: This is the eighth article in the series, "Software Feature Line-Up," by
More informationU.S. Small Business Administration Surety Bond Guarantee Program. Opening the Door to Bonding
U.S. Small Business Administration Surety Bond Guarantee Program Opening the Door to Bonding What Is a Surety Bond? A three party written agreement between the surety, the contractor and the project owner.
More informationSAMPLE CONSTRUCTION COMPANY. FINANCIAL STATEMENT AND SUPPLENTARY INFORMANTION For the Year Ended December 31, 2011
FINANCIAL STATEMENT AND SUPPLENTARY INFORMANTION For the Year Ended December 31, 2011 The financial statement, prepared by an independent Certified Public Accountant, is essential for bonding purposes.
More informationCONTRACT BOND SUBMISSION CHECKLIST
CONTRACT BOND SUBMISSION CHECKLIST Contractors uestionnaire Bond equest orm Copy of contract (if final bond request) Past three years CPA Prepared fiscal year end statements Interim financial statement
More informationPROFITCENTS ANALYTICAL PROCEDURES EXPECTED VALUE METHODOLOGY
PROFITCENTS ANALYTICAL PROCEDURES EXPECTED VALUE METHODOLOGY INTRODUCTION This document includes an analysis of the projection methodology used in ProfitCents Analytical Procedures in calculating expectations
More informationU.S. SMALL BUSINESS ADMINISTRATION 8(a) BUSINESS PLAN SBA STATEMENT ON REPRESENTATIVES AND FEES
U.S. SMALL BUSINESS ADMINISTRATION 8(a) BUSINESS PLAN OMB Approval No.: 3245-0331 Expiration Date: 08/31/2007 NAME OF COMPANY: ADDRESS OF COMPANY: CONTACT PERSON: TELEPHONE NO.: SBA STATEMENT ON REPRESENTATIVES
More informationUnderstanding Financial Statements. For Your Business
Understanding Financial Statements For Your Business Disclaimer The information provided is for informational purposes only, does not constitute legal advice or create an attorney-client relationship,
More informationCONSTRUCTION CONTRACTORS: CRITICAL ACCOUNTING, AUDITING, AND TAX ISSUES IN TODAY S ENVIRONMENT CONS/14/01
CONSTRUCTION CONTRACTORS: CRITICAL ACCOUNTING, AUDITING, AND TAX ISSUES IN TODAY S ENVIRONMENT CONS/14/01 Table of Contents The Construction Industry An Overview... 1 U.S. GAAP and the Construction Industry...
More informationEvidence Necessary to Establish Financial Stability for End of First Year of Operation
Evidence Necessary to Establish Financial Stability for End of First Year of Operation Texas Workforce Commission Career Schools and Colleges NOTES: 1. The financial requirements in Title 40, Texas Administrative
More informationSECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11 K
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11 K FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PLANS PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF
More informationFinancial Guidelines for Long-Term Care Home Licensing Applications
Financial Guidelines for Long-Term Care Home Licensing Applications Performance Improvement and Compliance Branch, Ministry of Health and Long-Term Care Revised: June 2015 Table of Contents Introduction...
More informationAPPLICATION FOR BUSINESS AND MANAGEMENT (BAM) INDEMNITY INSURANCE
Northwest Professional Center 227 Route 206 Flanders, NJ 07836 Tel: (973) 252-5141 / (800) 689-2550 Fax: (973) 252-5146 / (800) 689-2839 www.eriskservices.com email: application@eriskservices.com APPLICATION
More informationCONTENTS CHAPTER - 1 : FINANCIAL ACCOUNTING : AN OVERVIEW
CONTENTS CHAPTER - 1 : FINANCIAL ACCOUNTING : AN OVERVIEW Introduction ; Evolution of accounting; Meaning of book keeping; Definition of book keeping; Characteristics of book keeping; Process of book keeping;
More informationDirector s Guide to Credit
Federal Reserve Bank of Atlanta Director s Guide to Credit This guide was created by the Supervision and Regulation Division of the Federal Reserve Bank of Atlanta, 1000 Peachtree Street NE, Atlanta,
More information