Acquiring the Government contract is just the beginning of an elaborate job that includes careful maintenance and presentation of expense details in the form of various documents. Unless a contractor understands the accounts management process or knows about the complete Dcaa Accounting System Requirement, the contractor can never settle the expenses accurately. The best decision will be to outsource the work to DCAA Consulting. In fact, visiting their website at http://www.dcaaconsulting.com/ will help the contractors to know how the company can use their immense experience in the field to help with contract retention and acquisition as well.
There are certain limitations on the financial information, including limitation of costs and limitations of payments which the company has to know for qualifying the pre-award audit. The contractor also needs to prove that the data is safe and accurate. Those who are new to Government Contracting should start learning that the primary function of the Defense Contract Audit Agency or DCAA is to perform the financial audits for the agencies who are responsible for the acquisition and management of contracts for the US Government. Thorough preparation is necessary for impending audits as the audit will be critical. Pre-award Accounting System survey or Pre-award audit, more popular as SF 1408, is an essential part of Cost Type contracts.
The mission of this audit is to determine whether the accounting system of the contractor is acceptable, which is a mandatory condition for awarding the cost-type contracts. For better management of the buying commands, DCAA always prioritizes such audits and develops tools to assist auditors and contractors. One has to know the right application and use of the software in order to exhibit complete compliance to the Government expense standards.
Their tool and standards are always up-to-date with the Government standards. Moreover, they will use effective communication skills to handle the audit staff, contractors, and contracting officers, which has enhanced their ability to quickly identify the deficiencies of a company or the contractor. Diagnosing the deficiencies is not the only aspect of their assistance. They will also provide the contractors with workable and practical solutions that will finally reduce the time between solicitation and award. Additionally, as a special effort to achieve success, they will focus on all the necessary components of an acceptable accounting system for the company.
At a recent press meet, a spokesperson from their company said, “We are so glad to announce that our existing clients are recommending us to many other organizations after witnessing practically how far we go in assisting our clients. The Standard Form 1408 is all about asking questions about your accounting system. You need to know whether your accounting system is following GAAP. We will help you to streamline the accounting system so that it provides for the identification and accumulation of direct costs, flawless segregation of direct and indirect costs, and the method for allocation of indirect costs. Apart from these, we will also hello you with timekeeping system management, labor distribution, and segregation of unallowable expenditures. Our experts with more than thirty years of experience can always serve better than other companies.”
To procure more information about them, you have to simply click on http://www.dcaaconsulting.com/.
DCAA Consulting is the most reliable DCAA Audit support team, developing apt software to maintain the accounting system of a business organization.