Govt. Contracting Advisory Services
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.
Otero & Associates,
PLLC
Your CPAs & Small Business Advisors
324 Wilshire Blvd Casselberry, FL 32707-5370
Ph: 407-834-3133 • Fax: 407-657-5475
