By Jeffrey Witt, CPA, Senior Manager, CohnReznick LLP As I’ve attended a variety of government contracting related gatherings recently, I’ve noted a sudden increase in discussion about Other Transaction Authorities (OTAs). Since this isn’t an area that most involved in government contracting generally know a lot about, we thought an article on the subject might […]
Experts at CohnReznick are continuing to keep their eyes and ears open for new rules, regulations and other important information pertinent to government contractors. Be sure to visit this page regularly to stay informed.
Join CohnReznick for a complimentary Lunch & Learn session on either October 16th in Columbia, MD or October 17th in Tysons, VA. This month’s topic is “Cybersecurity’s Role in the Evolution of the Fourth Pillar Within Federal Acquisitions” Click here to register.
Join CohnReznick for a complimentary Lunch & Learn session on October 17th in San Diego, CA. Our topic is “The Power of Other Transaction Authority (OTA): Opportunities and Challenges for Government Contractors.” Click here to learn more and register.
Congratulations! You are a biotechnology or research-and-development (R&D) company, and have just been awarded your first government grant. Someone has made an inquiry about your indirect rates and you are thinking, “What are those?” The terms indirect rate, overhead rate, and facilities-and-administrative rate (F&A) are often used interchangeably. Although the terms may be different, all […]
As we embark on a new federal fiscal year, some of the most challenging activities performed by government contractors are budgeting and forecasting. Keep in mind that when creating a budget, the costs to be low enough to win a contract but high enough to allow profit. There also may be a need to reforecast […]
Perhaps the biggest challenge government contractors face is consistently developing business by winning new contracts. It is a challenge that trumps cash flow, the search for good talent, technical adeptness, and all other operating proficiencies. Businesses seek ways to grow rapidly, but struggle when pinpointing where to focus their resources. One strategy that government contractors […]
There are many issues associated with optimizing an organization with disparate commercial and federal business interests within a single global enterprise. There also are multiple alternative approaches along with respective advantages and disadvantages of each. Federal contractors view compliance with the Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS) as simply a cost of […]
Bad accounting practices are like bad habits – most start unintentionally and then become hard to break. Whether it’s a lack of segregation of duties, inadequate training, or the wrong accounting system, the results are the same – inaccurate and untimely financial statements. Practices that worked in the recent past may now be antiquated. Growth, […]
Cost Accounting Standard (CAS) 407 is the regulation contractors must be aware of when utilizing standard costing on government contracts. But CAS 407 also poses challenges for contractors not subject to the regulation, because the government still relies on the criteria for acceptability of standard costing practices described within CAS 407 to evaluate all contractors. […]
In September of 2016, the Defense Contract Management Agency (DCMA) and Rockwell Collins signed a memorandum of understanding (MOU) that established an improved process for the procurement of commercial items for military applications.1 A memorandum of understanding is a written agreement between two or more parties. It is also referred to as a memorandum of […]