Making Compliance Simple, So Contractors Can Focus on What They Do Best
In government contracting, a three-letter term can cause contractors so much anxiety and misunderstanding. It is an abbreviation for the Defense Contract Audit Agency, which stands for DCAA. Include the Incurred Cost Submissions (ICS) requirement at the end of every year, and it can overwhelm a lot of businesses. Here, DCAA Consulting comes in, taking a personal approach to make sure contractors do more than simply survive in federal projects.
Being DCAA compliant is more than following a list. You need to think in this way to win and maintain contracts with the government. According to DCAA, contractors following any of several types of contracts are required to record indirect costs, keep time records, and send out invoices correctly. A single mistake might cause you to face a financial audit, delays in payments, or lose the contract.
Contractors with flexibly priced agreements also have to submit the Incurred Cost Submission (ICS) every year. It is a document that provides all indirect costs from the fiscal year and includes explanations for how each amount compares to your financial records. Having your ICS in on time and without errors is a requirement. DCAA likewise uses it as a guide to set which costs are allowed, when to start an audit, and when to recover overpayments.
But here’s the good news: You are not expected to deal with everything by yourself.
Instead of following old patterns, DCAA Consulting is developing a new approach to compliance support: accessible, led by specialists, and based on what occurs in the real world. No matter if your company is a startup or a federal contractor with years of experience, the support we offer can be matched to your contract’s type, the agency you deal with and your unique business structure.
As our Founder and Lead Consultant at DCAA Consulting says, DCAA compliance should make us stronger, not feel too hard. “Our goal is to make it simple for our clients to understand the costs of their awards and give them information to help them secure and maintain contracts.”
With expertise from former auditors, CPAs, and those with knowledge of federal contracts, DCAA Consulting offers services like:
These reviews make sure that the accounting system is ready (SF 1408 readiness)
The care team must properly prepare and then go over the Incurred Cost Submission.
Indirect rate development and optimization
DCAA audit support and representation
FAR & CAS compliance guidance
Its focus on people is what makes the firm unique. Unlike many other consultancies, DCAA Consulting chooses to use simple words, open methods, and act ahead of any issues.
If you’re handling a cost incurred representation for the first time or getting ready for an audit, you can count on DCAA Consulting to help you feel confident and well prepared.
About DCAA Consulting:
DCAA Consulting offers services that allow government contractors to be compliant and organize their Incurred Cost Submissions without difficulty. Having a team of experts and being transparent, the company assists contractors in providing top-quality services for government agencies.