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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