SDVOB Part 1 - Left Brain: Right Design!
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Learn what Defense Contract Audit Agency (DCAA) approval really means for your business and what the Agency looks for during system and/or rate audits. You’ll gain insight with block diagrams to help design the accounting system that’s right for your business and the tools for success.
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SDVOB Part 1 - Left Brain: Right Design!
- 1. Part 1: Left Brain: Right Design! Elite SDOVB Conference 2015
- 3. Safety Check FAR update – increased acquisition thresholds effective October 1, 2015
- 4. Poll How many business owners in attendance? How many believe your accounting system is adequate? How many believe your indirect rate structure is accurate? How many believe you would pass an audit today? How many believe your system is DCAA compliant?
- 5. DCAA Approval What does DCAA approval mean to you?
- 6. DCAA Approval DCAA approval involves: Review of your accounting system including: Software setup Policies & Procedures Records & Reports
- 7. SF1408
- 8. DCAA Approval DCAA approval is not: Endorsement of any software or service
- 9. Building Blocks Chart of Accounts Indirect Pools & Rate Structure Policies & Procedures
- 10. Chart of Accounts Keep it Simple 4-6 digits
- 11. Chart of Accounts Keep it Serialized 1 Assets, 2 Liabilities, 3 Capital, 4 Revenue, 5 COGS, 6 Fringe, 7 Overhead, 8 G&A, 9 Unallowable
- 12. Chart of Accounts Keep it Synchronized xxxx01 Labor xxxx02 Training xxxx03 Travel
- 13. Poll How many indirect pools do you currently use? 3 4 5 6 or more
- 15. Indirect Pools Optional Pools Facilities IT Subcontract Management
- 16. Rate Structure Fringe Employer Taxes Health Insurance 401(k)
- 17. Rate Structure Fringe Total Fringe Costs (divided by) Total Labor
- 19. Rate Structure Overhead Total Overhead Costs (divided by) Direct, B&P, and IRAD Labor
- 21. Rate Structure G&A Total G&A Costs (divided by) Total Expenses minus Total G&A Costs* *Adjustments necessary for B&P, IRAD, and Unallowable Costs
- 22. Poll How many of you have written policies & procedures? Have they been updated in the past 12 months? Have there been any significant changes in your business since their last update?
- 23. Policies & Procedures Say what you do, Do what you say, Have records that match
- 24. Policies & Procedures Triggers to review or update Budgets New personnel New system or update Before audit New line of business
- 25. Sample Manual
- 26. Pulling It All Together Chart of Accounts Indirect Pools & Rate Structures Policies & Procedures
- 28. Questions?
- 29. Thank you! Robert E. Jones Robert@leftbrainpro.com (614) 556-4415
Editor's Notes
- Today we are talking about accounting system design and why that’s important to you as a business owner. This will be a high-level overview of the building blocks necessary to design an adequate system, pass a DCAA audit, and maintain contract compliance.
- Threshold changes. Insert link from WC.
- Let’s cut to the chase and talk about the all-important topic of DCAA approval.