Otero & Associates, PLLC
Introduction
Performing contracts for the Federal
Government can be a perplexing, aggravating, and frustrating
experience. Attempting to comply with all of the applicable
federal contracting rules and regulations, coordinating
contract changes, dealing with audits and other government
oversight activities and handling a myriad of other details
can drive you up the wall and put your profitability at risk.
Otero & Associates, PLLC can help to ease your stress and
protect your profit. As contract consultants we are pleased
to offer the following government contractor advisory
services:
1. FAR Guidance & DCAA Interface
2. Accounting System
3. Proposal Preparation Assistance
4. Equitable Adjustment Claim Preparation
5. Contract Terminations
1. FAR Guidance & DCAA Interface
We can provide guidance on
interpretation of the Federal Acquisition Regulations (FAR),
DoD FAR Supplement (DFARS), Cost Accounting Standards (CAS),
and other regulations. Furthermore, we can coordinate DCAA
audits to insure that the audits go smoothly and have the
least possible impact on your normal operations. We can also
assist you in preparing responses to DCAA findings or
correcting deficiencies identified in DCAA audits. Immediate
and thorough correction of deficiencies tends to develop a
good relationship with DCAA and reduce oversight in the
future.
2. Accounting
System
We can design or revise your
accounting system so that it is adequate to satisfy
government cost accounting requirements and collets the type
of data necessary to support requests for contract payments.
A well-designed accounting system can simplify proposal
preparation, provide more accurate cost estimation for
contract bidding purposes, enable you to identify cost
overruns when they occur, and reduce DCAA oversight.
Consequently, your opportunities for profitable operations
are enhanced. Moreover, a system that incorporates the
federal cost principles and cost accounting standards will
enable you to survive any DCAA audit.
3. Proposal Preparation
Assistance
We can prepare initial,
follow-up, and change-order contract pricing proposals or
develop financial input (projected direct labor and indirect
cost rates) for the proposals and assist in supporting your
proposed costs during contract negotiations.
4. Equitable Adjustment
Claim Preparation
If you ever have to do work
beyond the scope of the contract because contract
requirements were changed or contract performance was delayed
or disrupted as a result of government action or inaction,
you may be entitled to to an equitable adjustment to the
contract price. We can either prepare the equitable
adjustment claim, assist in its preparation, or perform a
compliance review of a claim already prepared. The
preparation of a proposal or claim for equitable adjustment
is complex and technical. It requires knowledge of government
contract rules and regulations in order to identify the types
of costs that are compensable and to calculate the price
adjustment. A claim prepared by an expert in this area can
maximize your cost reimbursement, reduce the likelihood of
litigation, and accelerate payment.
5. Contract
Terminations
If a government contract
is completely or partially terminated, the contractor needs
to take certain actions almost immediately following the
termination to insure that it recovers all of the costs of
termination to which it is entitled to. Moreover, a knowledge
of federal cost principles is essential in order to determine
what costs are recoverable as part of the termination
settlement. We can provide advice and guidance during the
termination process. Preparing a termination settlement
proposal can be complicated. The contractor needs to
determine whether the termination costs should be calculated
on the inventory or total cost basis. In the case of a
partial termination, the contractor needs to know how to
calculate the cost impact of the un-terminated work.
Consequently, experience in preparing these proposals can
result in maximum recovery of costs and a reasonable
profit.