SBA – Small Business

As a small business under 300 employees, whether a government contractor, a grant based non-profit, or a professional services organization your company needs a simple back office solution to grow and compete with larger, more established companies. Your ability to procure new business and capture costs, allocate indirect expenses and report on profitability in addition to staying compliant with the Defense Contract Audit Agency (DCAA), Inspector General (IG) and other agencies is key to maintaining a successful, profitable going concern.

Are you FAS (Federal Acquisition Guidelines) and CAS (Cost Accounting Standards) compliant? Do you already have in place and ready to give your contract agency (and DCAA) up-to-date information regarding:

 

Accounting Policies

 

1) Disclosure Statement

2) Timekeeping Policies

3) Compensation and Benefit Policies

4) Pricing & Estimating Policies

5) Contract Procurement Policies

 

How are you accounting for FAR 21.202 (direct costs) and FAR 31.203 correctly? (indirect costs)

 

Can you explain the following Cost Accounting Standards and how your company captures these costs? Are you compliant? When?

 

CAS 401 Consistency in estimating, accumulating and reporting costs.

CAS 402 Consistency in allocating costs incurred for the same purpose

CAS 405 Accounting for Unallowables

CAS 406 Accounting for Cost Accounting Periods

CAS 418 Proper Allocation of Direct & Indirect Costs

 

If you are not in compliance with FAR & CAS expect civil & criminal penalties, suspension of payment, contract terminations and debarment.

 

Contact an Iuvo Representative to discuss how Iuvo can help you. Press here to contact an Iuvo partner.

 

Covering: SBA 8(a) Small Business Development Program, SBA 8(m) Program, Women Owned Small Business (WOSB), Economically Disadvantaged Woman-Owned Small Business (EDWOSB), Non-Profit Agencies (AbilityOne Program), Alaska Native Corporations, Native American Small Business Programs, Native Hawaiian Organizations, Historically Black College & University/Minority Institution, HUBZone, Labor Surplus Area, Service Disabled Veteran Owned Small Business (SDVOSB), Small Business Innovation Research (SBIR), Small Business Technology Transfer (STTR) & Veteran Owned Small Business (VOSB)