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Staff Discussion Paper on Conformance of the Cost Accounting Standards to Generally Accepted Accounting Principles

Federal Register Update- Notice by the Management and Budget Office

▶️Cost Accounting Standards Board link to a Staff Discussion Paper on the Conformance of the Cost Accounting Standards (CAS) to Generally Accepted Accounting Principles (GAAP) with a request for public comments.


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FARSite’s useful features may be incorporated into Acquisition.gov

In the initial announcement of FARSITE changes, there was no word about whether the FARSite’s capability to simultaneously search both the FAR and individual agency FAR supplements would be part of the transition.  This feature is especially useful when researching the application of a specific FAR provision or clause in a particular agency’s solicitation or contract.  Also unclear was whether Class Deviations to the FAR, currently shown in context with FAR provisions and clauses on the FARSite, would be integrated into Acquisition.gov.

Now, it appears that both of these helpful features will be part of the “new” Acquisition.gov when it debuts on Oct. 1st.

Last week, the FARSite posted this message on its home page:

We will continue making updates to FARSite until the new capability is ready for full deployment at which time you’ll be able to access the new system by going to Acquisition.gov.  More exact dates and information will be provided once the prototype is nearing completion.  During prototype testing, the AF will have full transparency into ensuring the new site provides the existing capabilities as the current FARSite.”

The last sentence of the statement implies that the popular features and functions of the FARSite will be integrated into Acquisition.gov.  At present, Acquisition.gov offers neither the ability to search the FAR and FAR supplements simultaneously nor the ability to identify Class Deviations as a part of FAR searches.

Incidentally, while Acquisition.gov was initially silent about the merger with the FARSite, GSA posted this announcement on Friday:

The U.S. General Services Administration (GSA), Air Force (USAF), and Defense Acquisition University (DAU) are partnering to reduce duplication and make it easier to electronically access acquisition regulations. The USAF website for supplemental regulations, FARSite.hill.af.mil, will be transitioned to GSA’s acquisition.gov by September 30, 2019.  Acquisition professionals and vendors will then have a single website to access and search the Federal Acquisition Regulation (FAR) and supplemental regulations.  For additional questions, please contact the website administrator.

While GSA’s announcement offers no specific assurances that FARSite’s unique functionality will be a part of the transition, we’re counting on the FARSite’s assurances that “… the new site [will provide] the existing capabilities as the current FARSite.”  After all, the latest usage statistics available show that while all military branches make up the majority of the users of the FARSite, visitors from GSA itself and Lockheed Martin are among the top 25 user groups.  There’s no questioning the FARSite’s popularity; since its inception in mid-1996, it has been accessed 2.3 billion times.

Bottom line: There are a lot of people depending on the Air Force and the GSA to get this merger right.

Source Article The Contracting Education Academy at Georgia Tech

Capital Edge Launches New Initiative – Many Hands Make an Impact

Capital Edge continues commitment to Individual and corporate sponsored volunteerism in the communities where team members live and work

McLean, VA – February 11, 2019 – Capital Edge Consulting, Inc., a global consulting firm that specializes in helping federal government contractors solve complex business problems, recently announced their company 2019 volunteer initiative – Many Hands Make an Impact.

After supporting the local Ronald McDonald House in Fairfax, VA a year ago, there was a strong desire from team members to continue similar efforts with the support of senior leadership to promote philanthropy.

“The roll out of the Many Hands Make an Impact Initiative reinforces the company’s commitment to corporate-sponsored and individual volunteerism in the communities where we live and work,” said Chad Braley, Founder, CEO, and Partner of Capital Edge. “It is our goal as a company to make an impact in local communities through volunteerism and supporting our employees will assure we build a stronger community.” He went on to say.

The goal of the Many Hands Make an Impact program is intended to support employee involvement with an opportunity that is personal, whether it is within their own community or with a cause that resonates with them. Recent surveys reveal that employees who frequently participate in workplace volunteer activities are more likely to be dedicated and fulfilled, as compared to those who rarely or never volunteer. This program will serve the community while supporting employee culture.

Capital Edge opened the program with an initiative supporting Loudoun Hunger Relief. For 26 years, Loudoun Hunger Relief (LHR) has served as Loudoun County’s primary emergency food pantry, providing food assistance to the hungry and food insecure. Their ultimate goal is to ensure that no one in Loudoun County goes hungry. The Capital Edge team packed bags of perishable and non-perishable food for 200+ families at a popup market to support people impacted by the partial government shutdown as well as others in need the local community.

The company plans to roll out several volunteer initiatives and build momentum in 2019 for the Many Hands Make an Impact Program.

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About Capital Edge Consulting, Inc.

Capital Edge consultants combine their unique backgrounds and experience in consulting, public accounting, industry, DCAA and DCMA to provide clients with unmatched government contracting expertise. This breadth and depth of specialized experience enables Capital Edge to provide the exact services and level of expertise federal government contractors need to succeed. Capital Edge has worked with government contractors ranging in size from startup to Fortune 100 companies in industries such as manufacturing, nuclear energy, professional services, biotech/pharmaceuticals, defense, and software.

To learn more about Capital Edge Consulting, Inc., visit http://www.CapitalEdgeConsulting.com

 

DoD issues a final rule relating to commercial item acquisitions

By Paul M. Bailey, CPA, Managing Director and S. Chase Kunk, J.D., Vice President, Contracts & Procurement

DoD issued a final rule, published and effective today, January 31, 2018 to implement sections of the National Defense Authorization Act for Fiscal Years 2013, 2016 and 2018 relating to commercial item acquisitions.

About the proposed rule:

The DoD published a proposed rule in the Federal Register on August 11, 2016, to provide guidance to contracting officers for making price reasonableness determinations, promote consistency in making commercial item determinations, and expand opportunities for nontraditional defense contractors to do business with the DoD.

The final rule amends the DFARS to provide additional guidance to contracting officers and additional details on the types of ‘‘other than certified cost or pricing data’’ that offerors should include in their proposal for the purpose of determining whether proposed prices for commercial items are fair and reasonable.

Who does this affect?

This rule will apply to contractors that compete for contracts being awarded using FAR Part 15 Negotiation procedures that are valued at $750,000 or more.

Overview of the rule:

The final rule prescribes the use of a new DFARS provision 252.215–7010, to be used in lieu of FAR provision 52.215–20, Requirements for Certified Cost or Pricing Data and Data Other Than Certified Cost or Pricing Data. The new DFARS provision includes the existing requirement under FAR provision 52.215–20 for offerors to submit certified cost and pricing data and data other than certified cost or pricing data, as appropriate; further, the new DFARS provision implements a statutory exemption to the requirement for ‘‘certified cost or pricing data’’ for nontraditional defense contractors.

Finally, the rule advises contracting officers that they may presume that a prior commercial item determination made by another DoD component shall serve as a determination for subsequent procurements of such items, unless the contracting officer obtains a determination from the head of the contracting activity that the item is not commercial and the basis for that decision.

The DoD guidebooks

The DoD guidebooks for Commercial Item Determinations (Part A) and Commercial Item Pricing (Part B) were expected to be released concurrent with this final rule. The guidebooks were subject to extensive comments from industry and associations. The final rule indicates these guidebooks will be finalized to provide further guidance to contracting officers.

Executive Order 13771 & Cost Analysis

The final rule is considered to be a deregulatory action and therefore not subject to E.O. 13771, Reducing Regulation and Controlling Regulatory Costs. DoD has estimated the cost savings for this rule which can be accessed at www.regulations.gov, DFARS Case 2016–D006, Supporting Documents. An estimate of hours to prepare Cost or Pricing Data by business type is provided.

More on this rule:

The final rule, including discussion commentary may be accessed at: https://www.gpo.gov/fdsys/pkg/FR-2018-01-31/pdf/2018-01781.pdf?

#DFARS #DoD #NDAA #Commercial_Item_Determinations #Defense _Contractor

Protected: Capital Edge Consulting Teams with Federal Publications Seminars to Present Procurement University Online and Annual Subscription Offer

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Business Systems Webinar Series with Federal Publications Seminars

The Department of Defense (DoD) issued a rule in 2012 that requires contractors to have up to 6 adequate business systems in order to comply with government contract reviews and audits.  This webinar series provides an overview and an examination of the requirements for each business system. 

 Not sure if you should attend this webinar series? 
The DoD defined “significant” deficiencies as shortcomings in the systems that materially affect the ability to rely on system generated information.  Further, the rule outlines the process for DoD to withhold 5 to 10 percent of billings under certain contracts from contractors with troubled systems.

 

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