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whitepaper
ACCOUNTING SYSTEMS, COMPLIANCE AND THE GOVERNMENT CONTRACTOR
Most firms are introduced to the issue of accounting system compliance in association with their first pre-award survey. Preaward surveys usually take place prior to award of the firm’s first large prime contract with the federal government. When the prospective contract will require cost-based invoicing or reporting, an important part of the pre-award survey is the accounting system review. As outlined in the Defense Contract Audit Agency (DCAA) publication entitled “Information for Contractors” dated January 2004, the purpose of this review is “to determine the adequacy and suitability of the contractor’s accounting system and practices for accumulating costs under the type of Government contract to be awarded.” DOWNLOAD