Does a Government Contract Require a Change to My Accounting?
Redstone Government Consulting
SEPTEMBER 20, 2023
The question is, will the accounting structure and approach to the company’s accounting practices have to change?
Cost Accounting Standard (CAS) 411 – Accounting for Acquisition of Material Cost
Redstone Government Consulting
OCTOBER 30, 2024
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.
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Government Contracts Cost and Pricing: Accounting for Unallowable Costs
Government Contracts & Investigations
JANUARY 31, 2024
Welcome back to the Cost Corner, where we provide practical insight into the complex cost and pricing requirements that apply to Government contractors. This Cost Corner focuses accounting for unallowable costs. The applicable Cost Principle is FAR 31.201-6, Accounting for Unallowable Costs. 2] FAR 31.201-6(a); CAS 405-40(a). [3]
Government Contracts Cost and Pricing: The Truth in Negotiations Act, or Whatever the Kids Are Calling It These Days (Part 3)
Government Contracts & Investigations
SEPTEMBER 25, 2023
Welcome back to the Cost Corner, where we provide practical insight into the complex cost and pricing requirements that apply to Government Contractors. 3] TINA defines cost or pricing data to mean all facts that, as of the relevant date, a prudent buyer or seller would reasonably expect to affect price negotiations significantly. [4]
Negotiation 
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Cost Accounting Standards (CAS) Decoded: Best Practices for Government Contractors
Public Contracting Institute
MAY 14, 2024
Cost Accounting Standards (CAS) Decoded: Best Practices for Government Contractors As a government contractor, navigating the complex world of Cost Accounting Standards (CAS) can be a daunting task. Conducting cost and price analysis Cost and price analysis is a critical component of government contracting.
Bid Protest Minute: GAO’s Task Order Jurisdiction
GovCon & Trade
FEBRUARY 28, 2024
On December 21, the Government Accountability Office (GAO) dismissed a protest by ELS, an unsuccessful bidder on a Department of Defense (DOD) task order opportunity, concluding that it did not have jurisdiction to consider it. The protestor’s proposed price was $30,478,050, and its total evaluated price was $30,566,297.
Bidding 147
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CSO Requirements for Government Contractors
GovCon & Trade
OCTOBER 19, 2023
Award: CSOs are awarded on a fixed-price basis and include fixed-price incentive contracts. CSOs are treated as commercial products or commercial services making them subject to Federal Acquisition Regulation (FAR) Part 12 requirements.
Government 147
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Cost Accounting Standard (CAS) 416 - Accounting for Insurance Costs
Redstone Government Consulting
AUGUST 28, 2024
CAS 416 provides criteria for the measurement of insurance costs, the assignment of such costs to cost accounting periods, and the allocation to final cost.
Insurance 52
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Top Pricing Execs to Watch in 2024: HII Mission Technologies’ Fred Avila
WashngtonExec
MARCH 21, 2024
Fred Avila Vice President of Pricing Solutions, HII Mission Technologies Fred Avila is the vice president of pricing solutions at HII’s Mission Technologies division, which reported $2.7 Mission Technologies now accounts for nearly 25% of HII’s revenues. billion in revenues in 2023 — a 13% increase over 2022.
Price 52
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Why contractor pricing misconduct seems to endure perpetually
Federal News Network
OCTOBER 31, 2024
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
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Mastering Accounting for Unallowable Costs: A Guide to CAS 405 Compliance
Public Contracting Institute
JULY 8, 2024
Introduction to CAS 405 and Unallowable Costs In the complex world of government contracting, understanding and properly accounting for unallowable costs as per Cost Accounting Standard (CAS) 405 is crucial for success. The Impact of CAS 405 on Contract Pricing Understanding CAS 405 is essential for accurate contract pricing.
DOD Not Obligated To Suggest Tweaked Pricing On $2.3B Deal
Government Contracts
NOVEMBER 19, 2024
Government Accountability Office has thrown out Maersk's protest over the shipping giant's rejection from a $2.3 Transportation Command wasn't obligated to tell it its pricing was too high. billion contract for military freight transportation services, saying U.S.
Price 52
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Mastering Inflation: Navigating Fixed-Price Economic Price Adjustments in Government Contracts
Capital Edge Consulting
MAY 10, 2024
Two Quick Ways to Fail DCAA T imekeeping Requirements The federal government is the biggest purchaser of goods and services, so it's important that you have a good grip on your accounting practices. DCAA’s position, as in other cost accounting practices, is that “if it isn’t documented, it didn’t happen.”
Price 52
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Mastering CAS 406: Establishing and Adhering to Cost Accounting Periods
Public Contracting Institute
JULY 5, 2024
In the complex world of government contracting, understanding and implementing Cost Accounting Standards (CAS) is crucial for success. Today, we’re diving deep into CAS 406, which focuses on establishing and adhering to cost accounting periods.
The four key drivers that can enable better IT procurement
Open Contracting Partnership
MARCH 28, 2024
They are encouraging dialogue about who bought what from whom to improve visibility and accountability over the spending and the improved outcomes seen in the examples provided. There is research to show that every additional tenderer leads to a price reduction. Purchased systems need to replace or work within existing systems.
Procurement 138
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Login.gov facing technical difficulties and cost uncertainty, watchdog says
FedScoop
OCTOBER 18, 2024
The Government Accountability Office said that nine of the participating 21 Chief Financial Officers Act agencies reported issues with Login.gov, including lack of fraud controls and visibility into authentications as well as high failure rates.
Why Identifying Commercial Items at Your Organization is Key
Redstone Government Consulting
NOVEMBER 15, 2023
If you are selling products/services under FAR 15 based contracts or subcontracts, submitting certified cost and pricing data and documenting other accounting and purchasing requirements that come along with it, when the products/services technically meet the definition of commercial under the FAR – it may be time to rethink your approach.
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Cost Accounting Standard (CAS) 409 - Depreciation of Tangible Capital Assets
Redstone Government Consulting
JUNE 24, 2024
Cost Accounting Standard (CAS) 409 provides the criteria for assigning costs (i.e., depreciation) of tangible capital assets to cost accounting periods and allocating those costs to contracts in an objective and consistent manner.
FBI, DCIS raid Carahsoft headquarters
Federal News Network
SEPTEMBER 24, 2024
million to settle allegations that it misrepresented their commercial pricing practices and overcharged the government on VMware software products and related services purchased under the General Services Administration schedule. Carahsoft has dealt with charges of violating the False Claims Act previously. Carahsoft won more than $1.4
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What is fair and reasonable: GSA’s proposed economic price adjustment clause
Federal News Network
JANUARY 12, 2024
On November 16, 2023, the General Services Administration issued a proposed rule updating the General Services Acquisition Regulation (GSAR) Federal Supply Schedule Economic Price Adjustment (EPA) clauses. limits on the timing and number of price adjustments). Pricing context is dependent on accurate, relevant data.
Price 52
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Cost Accounting Standard (CAS) 404 - Capitalization of Tangible Assets
Redstone Government Consulting
JUNE 5, 2024
CAS 404 provides the criteria for determining whether to assign the cost of a capital asset as a period expense when acquired or capitalize the item as a tangible asset and spread the cost over two or more accounting periods.
Government Contracts Cost and Pricing: Introduction to the Federal Acquisition Regulation Cost Principles (Part 1)
Government Contracts & Investigations
OCTOBER 11, 2023
Welcome back to the Cost Corner, where we provide practical insight into the complex cost and pricing requirements that apply to Government contractors. Applicability of the FAR Cost Principles The FAR Cost Principles apply to the “pricing of contracts, subcontracts, and modifications whenever cost analysis is performed.” [1]
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Cost estimates for IRS’s Direct File program were incomplete, GAO says
FedScoop
APRIL 9, 2024
As the IRS’s Direct File pilot approaches the end of its 2024 runway, a new watchdog report finds that the tax agency’s cost estimates for the program were incomplete and would need “a comprehensive accounting” ahead of a potential takeoff in 2025.
Empowering the public sector with secure, governed generative AI experimentation
AWS Public Sector
NOVEMBER 20, 2024
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.
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In Best Value Determination Agency is Not Required to Quantify Benefits of Higher Priced Technically Rated Proposal
Public Contracting Institute
JUNE 5, 2024
Offerors are sometimes distressed when an agency selects a significantly higher priced, higher technically rated proposal in a best value determination. The Government Accountability Office (“GAO”) does not agree that quantification is required. Bulova Techs, LLC, B-281384, Feb.
Price 52
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Cost Accounting Standard (CAS) 403 - Allocation of Home Office Expenses to Segments
Redstone Government Consulting
FEBRUARY 7, 2024
So, you have a contract with the clause FAR 52.230-2 Cost Accounting Standards , subject to full CAS coverage. If you receive allocations from a home office, the home office must comply with CAS 403, Allocation of home office expenses to segments.
Bid Protest Minute: The High Bar to Proving Contract Officer Bias
GovCon & Trade
DECEMBER 18, 2023
By: Richard Arnholt On November 8, the Government Accountability Office (GAO) denied an unsuccessful bidder’s protest that asserted the Veteran Administration’s (VA) evaluation of Texas Waste Company’s past performance was unreasonable and reflected the Contracting Officer’s (CO) bias.
Bidding 147
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Sen. Ernst hopeful about fixes to small business contracting
Federal News Network
FEBRUARY 29, 2024
chairman of Homeland Security and Governmental Affairs Committee, and Joni Ernst (R-Iowa), ranking member of the Small Business and Entrepreneurship Committee, are trying to correct a misunderstanding of congressional intent when it comes to how and when agencies should consider price when reviewing proposals for contracts.
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Why DoD treats non-traditional innovation suppliers as just plain commercial
Federal News Network
MAY 30, 2024
Just this month, the Defense Pricing and Contracting unit issued a memo underscoring that authority. Dan Ramish Well, Tom, nontraditional defense contractors are defined to include all contractors that do not have a subcontract or contract subject to full cost accounting standards coverage and have not had one in the preceding year.
Supplier 84
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What is Fair and Reasonable: GSA’s Proposed Economic Price Adjustment Clause
The Coalition for Government Procurement
JANUARY 12, 2024
On November 16, 2023, GSA issued a proposed rule updating the General Services Acquisition Regulation (GSAR) Federal Supply Schedule Economic Price Adjustment (EPA) clauses. The rule proposes to remove “certain economic price adjustment requirements within these clauses to better align with commercial standards and practices.”
Price 45
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Raytheon to Pay $950 Million in Major FCA and FCPA Case Aided by Whistleblower
Whistleblower Network News
OCTOBER 17, 2024
The DOJ also alleges that Raytheon violated the FCA as it “provided untruthful certified cost or pricing data when negotiating prices with the DOD for numerous government contracts and double billed on a weapons maintenance contract.” $428 Cain, Chief of the SEC Enforcement Division’s FCPA Unit.
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Government Contracts Cost and Pricing: Allocation of Direct and Indirect Costs
Government Contracts & Investigations
JANUARY 19, 2024
Welcome back to the Cost Corner, where we provide practical insight into the complex cost and pricing requirements that apply to Government contractors. Examples of G&A expenses include costs incurred for senior management, accounting, finance, human resources, information technology, business development, sales, and marketing.
Price 52
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4 major acquisition changes GSA is pursuing in 2024
Federal News Network
NOVEMBER 17, 2023
As one of three major acquisition policy changes GSA is seeking over the next year, the proposal would remove language in the schedules program that many blame for why agencies use lowest price, technically acceptable (LPTA) still too often. GSA-collected fees would have accounted for $30 million of the total $33 million in fund credits.”
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GSA closes in on enterprisewide software deal with Microsoft
Federal News Network
DECEMBER 12, 2024
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.
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Senate panel signals future work on AI’s impact on housing
FedScoop
FEBRUARY 1, 2024
But they also have the potential to bake in existing inequities and to reduce accountability and even limit opportunity.” Dynamic pricing systems in housing is one area that Congress has already shown interest in — and could be ripe for additional action. Cynthia Lummis, R-Wyo., Raphael Warnock, D-Ga.,
Price 99
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GAO’s 2023 Bid Protest Report: More Than Meets the Eye
GovCon & Trade
NOVEMBER 17, 2023
On October 26, the Government Accountability Office (GAO) sent its annual bid protest report to Congress, which reflected a dramatic increase in protests filed following four straight years of decline. The report provides important insights into the current state of GAO bid protests. Higher effectiveness rate.
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What is Fair and Reasonable Transparency?
The CGP
SEPTEMBER 8, 2023
Transparent communication also promotes accountability and trust between the parties and with the public. In the interim, the document should be rescinded, with contracting officers referring back to the GSAR and FAR for guidance on determining fair and reasonable pricing.
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Dell Whistleblower Suit Leads to $4.3 Million Settlement over Non-Competitive Bids to the Army
Whistleblower Network News
NOVEMBER 26, 2024
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
Compensation for Professional Employees and You: GAO Sustains Where Agency Doesn’t Explain Why Proposed Decreased Compensation is Reasonable
SmallGovCon
NOVEMBER 8, 2024
While the federal government uses wage determinations for many occupations that contractors must abide by, things are different with professional occupations such as physicians, accountants, engineers, and (yours truly) attorneys. The award decision would be made on a best-value tradeoff approach considering price and non-price factors.
Bill to modernize federal cloud procurement gets backing of leading trade group
FedScoop
OCTOBER 21, 2024
A top technology trade group is nudging the leadership of the Senate Homeland Security and Governmental Affairs and the House Oversight and Accountability committees to advance a bill aimed at modernizing the federal procurement process. In a letter sent Monday to Sens. Gary Peters, D-Mich., and Rand Paul, R-Ky., James Comer, R-Ky.,
Procurement 99
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Georgetown ECo Talks Event to Focus on Climate Whistleblowing
Whistleblower Network News
NOVEMBER 6, 2023
Using the United States’ transnational whistleblower laws, the Dodd-Frank Act and the Foreign Corrupt Practices Act (FCPA), whistleblowers can come forward on Environmental Social and Governance (ESG) violations such as price gouging and misreporting as well as other forms of fraud and corruption linked to environmental damage.
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Sol Horwitz Appointed RELI Group CFO
GovCon Wire
FEBRUARY 20, 2024
Sol Horwitz, a more than three-decade finance operations and accounting professional, has joined Catonsville, Maryland-based information technology services contractor RELI Group as chief financial officer.
Finance 64
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Whistleblower Receives $900,000 for Alleging Army Contracting Fraud
Whistleblower Network News
JANUARY 31, 2024
and its subsidiaries will pay $5 million to settle charges that they violated the False Claims Act (FCA) “by falsely overstating cost or pricing data included in a subcontract proposal for work under a contract with the U.S. Department of the Army.” Army’s Tank Automotive Command (TACOM). Attorney Dawn N. government.
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UN’s first ever resolution on public procurement: what makes it strong and what’s still missing
Open Contracting Partnership
DECEMBER 19, 2023
We are pleased to see “equitable” used to describe the tendering processes which implies moving beyond lowest price to foster economic inclusion. The US-led Atlanta Declaration focused squarely on accountability and the role of non-state actors in the fight against corruption.
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