Defense Contract Audit Agency (DCAA) Cost Reimbursement Series - Part 1

Event description

The Nebraska APEX Accelerator and the National APEX Accelerator Alliance (NAPEX) are excited to announce the upcoming Defense Contract Audit Agency (DCAA) Cost Reimbursable Requirements Series. Part 1 of the Cost Reimbursable Requirements Series includes Accounting System Requirements and Real Time Labor Evaluations. 

Prior to being awarded a cost reimbursable contract, federal government contractors need to ensure their accounting system is adequate for determining costs applicable to federal contracts. This is accomplished when DCAA conducts a Pre-Award Accounting System Audit at the request of a federal agency. During this training, DCAA will discuss the federal regulations that define an acceptable accounting system, evaluate the minimum requirements of the SF 1408 criteria, and how small businesses can prepare for this type of audit. Experts from DCAA will differentiate between direct versus indirect costs, define total contract costs, provide an overview of indirect allocation bases, and learn how FAR Part 31 clauses describe allowability, allocability, and reasonableness. 

Once awarded a cost reimbursable contract award, contractors are eligible for floor check audits, otherwise known as "real-time labor evaluations". Join DCAA as we discuss what is a real- time labor evaluation, why DCAA performs them, and how small businesses can prepare for these audits.