Accounting Policies and Procedures
To become compliant with Federal Acquisition Regulations (FAR), and meet Defense Contract Audit Agency (DCAA) audit standards, your business has to have policies and procedures that ensure controls are in place for your accounting and financial reporting.
To make your accounting system compliant involves more than just the software your business is using, a more important consideration is the actual policies and procedures manual your company is using and your internal controls that monitor and enforce them.
Our Virginia CPA firm has extensive experience reviewing existing accounting policies and procedures to identify areas of concern. If you are new to government contracting, we can assist you in drafting new accounting policies and procedures to meet the rigorous standards set forth by FAR and DCAA.
Our accounting policies and procedures services include:
- Review of existing accounting policies and procedures manual
- Draft new accounting policies and procedures manual
- Review of accounting systems for compliance
- Review chart of accounts structure for compliance
- Review of internal controls and procedures for compliance
- Assistance resolving FAR and non-compliance issues with DCAA
- Evaluation of accounting system
- Labor cost tracking
- Job cost reporting
- DCAA compliant balance sheets
- Segregation of direct and indirect costs
- DCAA audit assistance
If you need a CPA who understands the standards, rules and regulations required by business who work as government contractors, we can help. We'll draft or review your accounting policies to ensure they meet all the requirements.
Please call our office at 571-379-5828 or 703-330-6544 and ask for John Beauchemin. We offer a consultation for area business owners.