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The Review - Summer 2009
Federal Government Contracting
Anthony J. Faugno, CPA Partner 732.919.1400 X 4033 Government business requires special government accounting... something government contractors often do not realize is uniquely different from traditional accounting. Amper’s Federal Government Contracting Group, a team specifically trained in government contract accounting, understands the difference very well. We know the importance of matching skilled professionals to the specific need – particularly in the government contracting industry, where a contractor’s funding (and hence, future) is hinged on having proper accounting expertise on their side. Government contractors are subject to a vast array of regulations and the key to complying with these rules lies within their accounting system. Contractors with a government-approved accounting system are best positioned to pass their government audit thus gaining the green light to keep their contract. Those, however, with an improper accounting system may see red instead and possibly face serious consequences such as delayed billing, needing to repay award money or worse, loss of the contract. Our Federal Government Contracting Group helps clients meet the government’s standards so they secure contracts and continue to thrive. From start-up companies initially developing their accounting system and internal processes to established companies desiring an improved system and more sophisticated expertise, we serve clients at each end of the government contracting spectrum and those in-between. We ease the overwhelming burden that new contractors feel in navigating the complexities of government accounting regulations and we relieve the anxiety of veteran contractors turning to Amper for the first time when their contract is in jeopardy. With a robust offering of services, the Federal Government Contracting Group addresses government contractors’ needs through the various stages of their business. This includes assistance with “hot button” issues such as accounting systems, incurred cost submissions, indirect costs, Federal Acquisition Regulations (FAR) and Defense Contract Audit Agency (DCAA) audits. In addition, we help with bid proposals, contract terminations and contract administration along with seamlessly integrating traditional accounting services for clients who serve both government and commercial interests. |
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