Government Contracting
For most contractors, direct labor costs are usually the most significant expense charged to government contracts and usually make up the base, or largest, element used to allocate indirect costs.
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Final rules and guidance have been issued that require the federal government to take into account a federal contractor’s compliance with federal and state labor laws violations before awarding the contractor a contract. The rules also include provisions on payroll compliance.
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Many of the Federal Acquisition Regulations included in a prime contract require that the substance of the clause also be included in subcontracts. These flow-down clauses are generally intended to help ensure that the subcontracts adhere to federal procedures.
Read MoreThe costs of maintaining employee health, morale and well-being can generally be claimed, while recreation costs and gifts cannot. The difficulty sometimes is in distinguishing between them. FAR 31.205-13 defines generally allowable employee expenses and credits as expenses for “activities designed to improve working conditions, employer-employee relations, employee morale, and employee performance (less income generated by these…
Read MoreIs your operation classified as a small business? Have you received, or are you pursuing U.S. government prime contracts set aside or reserved for small business? If so, the clause in the Federal Acquisition Regulation (FAR) 52.219-14 titled “Limitations on Subcontracting” will be included in your contract. This clause specifies the percentage of work that must…
Read MoreKnow the titles of acquisitions officials. There are many acquisition officials who might be involved during the negotiation, administration and settlement of a government contract. But there is one fact you should know. Contracting Officers are the individuals who have been granted explicit authority to enter into, administer and terminate contracts. They are the only individuals with this…
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These days, many businesses have some employees who work from home — either occasionally or on a full-time basis. Keep in mind that telecommuting employees of federal government contractors are required to follow appropriate labor timekeeping policies and procedures.
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Are you self-insured? You may be under a related Federal Acquisition Regulation (FAR) and not even know it. The FAR addresses the allowability of insurance in FAR 31.205-19 Insurance and Indemnification.
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Is your documentation adequate to pass a Defense Contract Audit Agency (DCAA) incurred cost audit? Flexibly priced contracts contain audit and post-incurrence audit and acceptance requirements for some or all costs. Many contractors have been surprised to find out that the documentation they have on hand to support incurred costs is not considered adequate to support either the…
Read MoreAre you prepared for audits of your business systems? If you are not ready when notified of an impending business system audit, you will not have time to get ready.
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