article thumbnail

Why contractor pricing misconduct seems to endure perpetually

Federal News Network

The company is under Justice Department investigations for defective pricing, foreign bribery and violations of the Arms Export Control Act. This does not appear to be a case of the most senior people likely to have been aware of the behavior being held accountable. Not some fly-by-night, but rather the legacy contractor Raytheon.

Price 59
article thumbnail

Cost Accounting Standard (CAS) 411 – Accounting for Acquisition of Material Cost

Redstone Government Consulting

CAS 411 provides criteria for accounting for the measurement and assignment of material costs to cost objectives and follows generally accepted accounting principles (GAAP). If you don’t have contracts subject to full CAS, then FAR 31.205-26 Material costs requires contractors to implement GAAP when accounting for material.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

GSA closes in on enterprisewide software deal with Microsoft

Federal News Network

The Government Accountability Office found last January that out of the 24 agencies they reviewed for software licenses management, Microsoft was the most common, with agencies reporting it 36 times for a total of about $2.4 billion in spending. While DoD has had limited success with its ESI, civilian agency efforts have mostly fallen flat.

article thumbnail

Dell Whistleblower Suit Leads to $4.3 Million Settlement over Non-Competitive Bids to the Army

Whistleblower Network News

Dell allegedly operated a deal registration program that gave advantageous pricing to Iron Bow to sell Dell products to the Army. The United States relies on competition to get the best value and price for the American taxpayers,” said Principal Deputy Assistant Attorney General Brian M. “The

article thumbnail

Does a Government Contract Require a Change to My Accounting?

Redstone Government Consulting

The question is, will the accounting structure and approach to the company’s accounting practices have to change?

article thumbnail

Whistleblower Suit Against Lockheed Martin Leads to $29 Million Settlement

Whistleblower Network News

Department of Justice (DOJ) announced that Lockheed Martin Corporation agreed to pay $29 million to settle allegations that it violated the False Claims Act through defective pricing on contracts for F-35 military aircraft. The settlement resolves allegations brought forward by a whistleblower in a qui tam lawsuit.

article thumbnail

Empowering the public sector with secure, governed generative AI experimentation

AWS Public Sector

Some of the key capabilities and benefits of the Generative AI Sandbox on AWS include: Secure, governed, and isolated environment – Deploy to an isolated Amazon Web Services (AWS) account and use AWS Identity and Access Management (IAM) to control who can access the sandbox and what actions they can perform.