Tag Archives: audit

CAM is Guidance, FAR is Rule

DCAA CAM is guidance

As a former DCAA auditor, I am still stunned at the level of trepidation experienced by contractors when the terms “audit”, “DCAA“, or “compliance” are mentioned.  The most surprising to me is that one agency can strike such fear into … Continue reading

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Stories of a GovCon Professional – Part 1

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If you are anything like me, a good anecdote can really get you thinking.  It is to this end that I present the following post and another to follow (potentially after the first of the year). I recently had someone … Continue reading

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FAR and CAS Intersection

There is always a discussion looming in the corners of every government cost accounting conference or training session about the linkages between FAR and CAS.  Most of the banter includes phrases like “but I don’t have CAS-covered contracts” or “I … Continue reading

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Is My Accounting System (Quickbooks) Compliant?

DISCLAIMER:  I am in no way promoting Quickbooks or other software in this post.  I am only seeking to clarify some fundamental misconceptions about DCAA-compliant accounting systems. I teach part-time in my spare time at a local community college.  One … Continue reading

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5 Things You Need to Know About the DFARS Business System Rule

As noted in a post last year, contractor business systems rules have changed in the DFARS and are now in effect.  Under the new rules, the government can withhold 5 percent of a contractor’s payment if any of the company’s business … Continue reading

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Happy Holidays – the New Year Approacheth

Incurred Cost submission time is fast approaching (as well as some much needed down time for many government contractors).  On the other side of the new year is the great unknown, the void of time in man a compliance and … Continue reading

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Do YOU “Make too Much” as a Government Contractor?

Congress is poised to reduce how much the government pays defense contractors as reimbursement for the salaries they give their employees.  The government has a cap on how much it will pay for salaries of each defense contractor’s top five … Continue reading

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