Few things are more complicated than doing business with the U.S. Federal Government. In addition to the everyday issues encountered by all businesses, government contractors face unique challenges at each step in the business lifecycle. Along with this risk, however, comes immense opportunity. We offer a full range of services in support of the government contracting industry.
Incurred Cost Submission
If your company has any contracts that contain the Allowable Cost & Payment clause you have a requirement to file an Incurred Cost Submission (ICS) six (6) months after the company’s year-end. That means calendar year-end companies must submit and file the ICS by June 30th.
We help government contractors prepare Forward Pricing Rate Proposals (FPRP) for submission to the government for the certification of their cost and labor rates. If you’re requested to submit an FPRP, let us help your staff prepare the proposal, and provide our experienced review prior to submission.
Indirect Rate Management
The management of indirect costs has long been recognized as one of the most difficult areas to manage. There is often no clear-cut relationship between these expenses and profit as there is with direct cost. The nature of indirect cost is such that the expenses are spread over a number of expense accounts with various types of expenditures occurring sporadically over the year. Management must constantly be aware of and understand the detailed composition of such costs in order to effectively control them. Let us help bring order and clarity to this process for your team.
Government contractors are required to submit a Disclosure statement before a contract of $50 million or more is awarded or within six months of a smaller contract award that’s over $7.5M. Completing this form carefully and thoughtfully is important, as it defines the procedures you will apply to your accounting for government contracts, and once established must be followed. We help our clients navigate the preparation of this important document, and review it in detail prior to submission.
"Two years ago, my CPA retired and suggested I go to Jennifer Eubanks. I have been delighted with her work! I highly recommend Eubanks & Company."
"My firm started using EuCo from day one. I can attest that they have reduced the risk of many pitfalls we faced during our first few years. They continuously provide executable solutions to ensure our books and processes are inline and compliant. All this expertise at reasonable costs and great customer service."
"Eubanks & Company helped me out of a very sticky tax problem created by the neglect of a former accounting firm. I have nothing but the highest praise for this firm and the people working there. My ongoing experience is just as positive."
"Great, personal service - a trusted partner"
"We could not be more pleased with the service we have received from Eubanks & Co. It is our one-stop shop for all of our financial business needs. Jennifer leads her team to provide ethical and timely financial and regulatory compliance guidance for our government focused practice and we have recommended her firm widely. Thank you for all that you do! Your dedication to helping us remain compliant, set and meet our goals, and scale for growth is directly correlated with our continued success."
"Jennifer is a trusted accountant and adviser. Her work ethics is second only to her expertise. Jennifer’s sense of resolve is perhaps the most telling… meticulous, persistent, and assertive comes quickly to mind. Eubanks & Company has my highest recommendation."
"The CPA Department provides meaningful and actionable expertise related to preparing for DCAA audits, prepares winning pricing proposals, and provides overall strategies for small government contracting businesses to succeed."
"This firm is terrific, I have worked with Jennifer Eubanks several times, and her firm provides first-class accounting support at very reasonable rates."
"This company is very professional and pays attention to all details. Their team is very understanding of all the tax laws. They are very efficient and very accurate. Plus, this company is very reasonable and very trustworthy. I highly recommend The CPA Department to anyone. Thank you soooo much !!"
"Have really enjoyed working with The CPA Department for the past several years. They have a great team that delivers professional and efficient service. Whether it be government contracting, day to day accounting needs, tax prep, or tax planning, they can handle your every need. We have already started leveraging their tax expertise with the new tax law changes. I highly recommend this CPA firm."
"We're extremely happy with the DCAA oriented consulting we're received, as well as the excellent service on general accounts issues. Our FAR and DCAA issues were more than we wanted to tackle alone and a significant part of our business. Jennifer and her team helped us through these hurdles and we couldn't be more pleased."
"Would highly recommend The CPA Department for business consulting, accounting and tax preparation needs. Jennifer and staff are very knowledgeable and go out of their way to help clients with their needs. You won't be disappointed."
"Very knowledgeable and helpful team. Work was done expediently. I will continue to use them and highly recommend them."
Please contact us to learn more about how we might help you with your government accounting or contracting needs.