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