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Mastering Inflation: Navigating Fixed-Price Economic Price Adjustments in Government Contracts

Capital Edge Consulting

Labor is among the largest contract cost recorded to Government contracts. In many cases, they are the most significant; therefore, the Government invests significant efforts to monitoring these costs and auditing them. The following are subject matter areas that represent critical timekeeping internal controls.

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Understanding the Importance of a DCAA Approved Accounting System

Capital Edge Consulting

In government contracting, maintaining a DCAA-approved accounting system is crucial. The Defense Contract Audit Agency (DCAA) enforces strict guidelines to ensure that contractors’ accounting systems meet the standards required for compliance. Importance of maintaining compliance with DCAA for government contracts.

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Mastering Accounting for Unallowable Costs: A Guide to CAS 405 Compliance

Public Contracting Institute

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. Let’s dive into the intricacies of CAS 405 and explore how proper compliance can benefit your organization.

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Government Contracts Cost and Pricing: The Truth in Negotiations Act, or Whatever the Kids Are Calling It These Days (Part 3)

Government Contracts & Investigations

14] DCAA’s risk assessment is based on discussions with the contracting officer, the price negotiation memorandum (PNM), the contractor’s audit history (permanent file), publicly available information, and information obtained from the contractor. [15] Implement policies, procedures, and internal controls.

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Taking Care of Business (Systems): DoD Proposes to Change the Definition of a Business System Deficiency 

Government Contracts Legal Forum

The post Taking Care of Business (Systems): DoD Proposes to Change the Definition of a Business System Deficiency appeared first on Government Contracts Legal Forum. View the full article

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Season 11: Episode 2: FAR Facts

Public Contracting Institute

The Anti-Kickback Act is a special “bribery” statute that involves a subcontractor giving “something of monetary value” to a prime contractor for the purpose of receiving “favorable treatment” in connection with a federal government prime contract. FAR 52.203-13(c).The FAR 52.203-13(c).The

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Retired four-star admiral faces 30 years in prison on bribery charges

Federal News Network

62-year-old Robert Burke, a retired four-star admiral, is facing up to 30 years in prison for an alleged scheme to steer a government contract to a company in exchange for future employment. The PRAC report details resources, reports, and other documents agencies can refer to as they further develop their funding programs.