By: Jordan M. Lebowitz | August 28, 2015
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The Department of Defense (DOD) earlier today issued an interim rule, effective immediately, that significantly increases existing cybersecurity requirements for DOD contractors. The requirements in the interim rule, available here, have broad applicability to DOD contractors at both the prime and subcontract levels, including commercial item and small business contractors. Contractors can expect these requirements to begin showing up in new DOD contracts immediately and should begin taking steps to ensure compliance.
The interim rule contains a number of new and revised DOD cybersecurity requirements. The key issues are summarized below.
The interim rule significantly expands the scope of the prior unclassified c...
By: Jordan M. Lebowitz | July 09, 2015
FAR compliance is important regardless of DCAA being involved, as it is still required by your contract, and good accounting is inherent to good business practices.
Ensuring compliance related to DCAA requirements will allow your business to continue a successful relationship with the government, while avoiding: repayments, penalties, delay or loss of contract and wasted resources on administrative duties.
Category: Government Accounting
Tags: wrap rates, government accounting, government contracting, what is a wrap rate?, competitive wrap rate, wrap rates in government contracting, DCAA, Federal government contracting opportunities, FAR, DCAA Audit, Government Accounting Compliance, compliance, Federal government contracting
By: Jordan M. Lebowitz | June 04, 2015
Michelle Gunderson
After years of experience as a Senior Tax Officer for various companies, Michelle has joined our team as Government Accounting Specialist.
Michelle’s Capabilities Include:
(To view a full list of Arrowhead’s government accounting offerings, visit our website.)
Remember, the requirements for proper government accounting span across businesses of all sizes and industries, and should be customized on a case by case basis.
Arrowhead Solutions can proactively safeguard your business ...
Category: Arrowhead Solutions, LLC - Government Contract Solutions
Tags: wrap rates, government accounting, government contracting, what is a wrap rate?, indirect rates, wrap rates in government contracting, DCAA, Federal government contracting opportunities, DCAA Audit, compliance, Federal government contracting
By: Jordan M. Lebowitz | March 26, 2015
As prescribed in 37.115-3 , insert the following provision:
Identification of Uncompensated Overtime (Mar 2015)
(a) Definitions . As used in this provision --
“Adjusted hourly rate (including uncompensated overtime)” is the rate that results from multiplying the hourly rate for a 40-hour work week by 40, and then dividing by the proposed hours per week which includes uncompensated overtime hours over and above the standard 40-hour work week. For example, 45 hours proposed on a 40-hour work week basis at $20 per hour would be converted to an uncompensated overtime rate of $17.78 per hour ($20.00 x 40 divided by 45 = $17.78).
“Uncompensated overtime” means th...
By: Jordan M. Lebowitz | October 07, 2014
Most likely, your answer to this question is, “I don’t know”.
It's often the case that a company thinks maybe they could be ready for a DCAA audit, but has little confidence that they would pass. On the other end of the spectrum, are you a company who thinks you're definitely ready for DCAA because you have an expensive or robust accounting and/or timekeeping system?
Unfortunately, if you never had DCAA in your office before, then you probably are not ready, regardless of your systems.
Contrary to what you may have heard, you cannot “buy” a DCAA-approved accounting system. No accounting or timekeeping system has ever, or will ever, receive DCAA’s stamp of approval. As a government agency, they will not endorse a product in that manner. In a...
Category: DCAA