CPAs and Advisors with Your Growth in Mind

Government Contractors

What’s in a Name?

As many Federal contractors know, speaking the language of government contracting can be a daunting task. Effective May 29, 2014, most of the familiar names and terminologies associated with some of the key Acts and provisions affecting government contractors were modified in the Federal Acquisition Regulation (FAR). The name changes were required to conform references throughout the FAR to the new Positive Law Codification of Title 41, United States Code. Positive law codification by the Office of the Law Revision Counsel is the process of preparing and enacting a codification bill to restate existing law as a positive law title. Read More.

Topics: , ,

The Clock is Ticking: Getting an Edge on Your Annual ICS

It’s that time of year. Your personal tax returns are complete. Your company completed its taxes on time. The auditors wrapped up the financial statement audit. Is there time to breathe? Certainly not…It’s finally time to prepare your annual Incurred Cost Submission (ICS)! For companies with fiscal year ending December 31, 2015, the 2015 ICS will be due by June 30, 2016, six months after the close of your fiscal year. Throughout the years, we have seen a variety of different hiccups and struggles for companies as they shift out of “busy season.” Here are a few things to consider. Read More.

Topics: , , ,

Ken Bricker to Speak at DCAA Webinar

On June 7th, Cherry Bekaert’s Ken Bricker will participate in a virtual roundtable at Deltek’s 2016 DCAA Report to Congress live webinar . The one-hour event will feature Ken, NeoSystems’ Rich Wilkinson, and other industry experts as they discuss key findings from the Defense Contract Audit Agency’s (“DCAA”) 2015 report. Panel members will also share what they expect from the DCAA in 2016 and beyond. Registration for the event is free and can be accessed via Deltek’s Web site.

Topics:

New Labor Compliance Requirements Coming Soon

In July 2014, President Obama signed Executive Order 13673, Fair Pay and Safe Workplaces, which is scheduled to go into effect sometime this spring. The goal of the order is to ensure that government contractors who do business with the Federal government comply with required labor laws and promote safe, healthy, fair and effective workplaces. Prior to the award of a contract for goods and services, including construction where the estimated value will exceed $500,000, an offeror will be required to certify that it is in compliance with a variety of labor laws. Such laws include the Fair Labor Standards. Read More.

Topics: , , , , , , ,

Rule Proposes Affirmative Action for Individuals with Disabilities in the Federal Government

The Equal Employment Opportunity Commission (“EEOC”) proposes to amend its regulations requiring the Federal government to engage in affirmative action for individuals with disabilities. In summary, the proposal came with three new affirmative action requirements: Agencies must meet goals set by the EEOC, rather than by the agencies themselves as currently required, for the employment of people with disabilities as defined under Section 501 of the Rehabilitation Act of 1973. Agencies must meet sub-goals set by the EEOC, rather than by the agencies themselves as currently required, for the employment of people with targeted/severe disabilities as defined by the Office. Read More.

Topics: ,

Is Category Management the Future of Federal Procurement?

Historically, the Federal government has purchased goods and services one office at a time, within each agency, as these different offices have determined that they need to purchase something. This resulted in many procurement actions and duplication of effort and cost for purchasing personnel, contractors, and the people in all of the different offices who were often requesting the same items. Additionally, the quantities purchased by these individual offices were not always large enough to qualify for quantity discounts. The move to purchasing commercial items was a major step toward reducing the cost and effort of federal procurement, but the. Read More.

Topics: , ,