GAAP / IFRS / Other Compliance

Follow Generally Accepted Accounting Principals (GAAP), the accounting standards promulgated in the United States

Follow International Financial Reporting Standards (IFRS), for companies based outside of the United States

Create a individual schedules for all grant compliance requirements

Develop grant reporting tools and templates to simplify reporting processes

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DCAA/FAR* Compliance

Calculate indirect rates, labor distribution, and other reporting on a monthly basis

Structure your accounting system to track direct and indirect costs

Trace costs from Contract Line Items to transactions in your accounting system

Train staff on time-keeping and other DCAA/FAR regulations

Know what are and what are not allowable costs

Create reporting systems for indirect costs, labor distribution, and other reporting requirements

* DCAA / FAR = Defense Contract Audit Agency / Federal Acquisitions Regulations

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Pre-Award Adequacy Analysis

Understand why a Pre-Award audit of your accounting system is required, and what is involved

Learn how to complete the Form 1408

Know the reporting limitations of your accounting system and how to successfully work around them

Get your Form 1408 audited

Understand what to do once you received a positive audit opinion on your Form 1408

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Fraud Prevention (IC)

Know where fraud and compliance collide and how to protect your business

Understand “proper care and feeding” of government and grant funding

Apply the concepts of Fraud Prevention and Fraud Detection to your business.

Develop Internal Controls (IC) practices to prevent fraud and theft in your business

Discover how better you can protect your business from fraud

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