In the third episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran, a Director with Cherry Bekaert Advisory, is joined by Jeffery Annessa, a Senior Manager in Cherry Bekaert’s Government Contractor Industry practice, to discuss CAS implications during mergers and acquisitions. Cherry Bekaert’s government contracting consulting team has years of CAS experience and can help you navigate CAS compliance issues or disclosure statement development.This episode highlights key topics to help guide your business forward, including:Scenarios and implications to CAS when:A CAS-covered company acquires a company that is non-CAS coveredA non-CAS covered company acquires a company with CAS coverageThe two most common approaches on how to treat the company you are acquiring, specifically:A legal entity dissolved and integrated fullyA legal entity being maintained as a wholly owned subsidiaryUnderstanding CAS structure as it relates to the companySteps to consider when merging with or acquiring a companyCommon areas that do not constitute a cost accounting practice changeImpacts and considerations when the acquired company is CAS coveredAreas a CAS-covered company should focus their attention on when acquiring, including:Transitional accounting periodIndirect rate structureSimilarity of laborAllocationsRestructuring costPitfalls to avoidAreas a non-CAS covered company should focus their attention on when acquiring, such as:Analysis of the CAS-covered contracts to understand period of performance, numbers and money magnitudeAdditional exposureCompliance requirementsIf you haven’t already, catch up on part one and two of the series:Cost Accounting Systems Series: Part 1 – An OverviewCost Accounting Systems Series: Part 2 – Growing a GovCon Related GuidanceWebinar Recording: Cost Accounting Standards (CAS): Part 1 – CAS Coverage Types, Common Standards, and CAS ApplicabilityWebinar Recording: Cost Accounting Standards (CAS): Part 2 – Cost Accounting Changes and ImpactView all Government Contracting Podcasts

On December 26, 2023, the proposed rule for the Department of Defense (DoD) Cybersecurity Maturity Model Certification (CMMC) Program was published in the Federal Register. Listen to Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contractor Industry practice and Brian Kirk, Senior Manager in the Firm’s Information Assurance & Cybersecurity practice, as they share insights into the proposed rule, including the surprises that came out and DoD’s timing for implementation.Refresher on CMMC Level 1 Self-Assessment, CMMC Level 2 Self-Assessment + CMMC Third-Party Assessment Organization (C3PAO) Assessment, and CMMC Level 3 Government-Led AssessmentEquivalency: Cloud Service Provider (CSP) and External Service Provider (ESP)Phased Implementation (DoD rollout in solicitations)Final Certification vs. Conditional CertificationCMMC Level 3 requires a CMMC Level 2 Final CertificationDefense Industrial Base Cybersecurity Assessment Center (DIBCAC) High conversion to CMMC Level 2 Final Certification for perfect scoresCost ConsiderationsHow do I prepare for CMMC certification?If you have any questions regarding CMMC, Cherry Bekaert’s Information Assurance & Cybersecurity and Government Contracting advisors are available to discuss your situation with you. Cherry Bekaert is an authorized CMMC Third-Party Assessment Organization (C3PAO) by the Cybersecurity Maturity Model Certification (CMMC) Accreditation Body, Inc. (The Cyber AB). We assist Organization’s Seeking Certification (OSCs) with CMMC readiness assessments for Levels 1, 2 and 3. Additionally, as an authorized C3PAO, Cherry Bekaert partners with the Defense Contractor Management Agency (DCMA) Defense Industrial Base Cybersecurity Assessment Center (DIBCAC) under their Joint Surveillance audit program to perform DIBCAC High (NIST 800-171) Assessments which are convertible to CMMC Level 2 Certification, if a perfect score is obtained. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s GovCon Podcast series on the Small Business Administration’s (SBA) 8(a) Business Development Program, Brynn McNeil and Craig Hunter, assurance partners in Cherry Bekaert’s Government Contracting Industry practice, discuss accounting best practices for 8(a) companies. Listen to find out about:Setting up an accounting system to segregate costsChart of AccountsIndirect ratesReporting functionality for:Contract revenue summary by contractShowing cumulative revenueAnnual revenueDirect costsImportance of month end reconciliations of balance sheet account Recent accounting pronouncements that impact accounting ASC 505ASC 842What to consider when selecting an accounting system Accounting department general housekeeping best practicesCherry Bekaert’s team of government contracting consultants have extensive experience in navigating the SBA 8(a) Business Development Program and can assist your business with accounting best practices. If you have any questions specific to your situation, our GovCon consultants are available to discuss your situation with you. Contact us.If you haven’t already, catch up on other episodes in our podcast series discussing various aspects of the Small Business Administration’s (SBA) 8(a) Business Development Program:The SBA 8(a) Business Development Program – What Is It and What Are the Requirements?The SBA 8(a) Business Development Program Application Process and RequirementsWhat Are the Compliance Requirements for 8(a) Certified Companies?Winning an SBA 8(a) Sole Source Award Contract – What’s Involved and What to KnowWinning an 8(a) Competitive ContractSmall Business Administration (SBA) Mentor-Protégé ProgramSBA Mentor-Protégé & Joint Venture Arrangements – Important Elements of the AgreementThe lifecycle of an 8(a) CompanyOIG Report: SBA’s Business Development Assistance to 8(a) Program ParticipantsContract Performance After the SBA 8(a) Business Development ProgramView all Government Contracting Podcasts

In the first episode of a new series on effective operational and financial performance for government contractors, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Todd Angioli, a Director in the Firm’s GovCon practice with 20+ years of financial operations experience, to discuss considerations when budgeting for year end. Listen to this episode to find out more about:What government contractors should consider during year end and while budgeting for the next calendar yearHigh-level considerations when reviewing the operating plan:RevenueDirect LaborFringeOverheadGeneral and Administrative Expenses (G&A)Bottom Line Key budget planning areas:Recompete/New BusinessResourcesWhat growing government contractors should be doing at year endCherry Bekaert’s team of government contracting consultants have significant operations and finance experience. If you have any questions specific to your situation, our GovCon consultants are available to discuss your situation with you. Contact us.View all Government Contracting Podcasts

In the second episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa, a Senior Manager in the Firm’s GovCon practice who spent 13+ years with DCAA and held various positions such as Quality Manager, Supervisory Auditor, Field Audit Office Manager, and Artan Ivezaj, a manager in Cherry Bekaert’s GovCon practice with 15 years of experience at the DCAA, to discuss CAS considerations for a growing GovCon. Listen to this the episode to find out more about:When a company should start thinking about CASThe difference between full and modified CAS coverageExplanation of the fundamental requirements of CAS 401 and 402CAS 401: Consistency in Estimating, Accumulating, and Reporting CostsCAS 402: Consistency in Allocating Costs Incurred for the Same PurposeThe commonality of Federal Acquisition Regulation (FAR) Cost Principles, Approved Accounting System, and CASBeing aware of CAS 405 and 406CAS 405: Approved accounting system requires the system to ensure unallowable costs are reviewed and removed from government billingsCAS 406: Cost Accounting PeriodImportant notes about CAS Coverage and the applicability towards subcontractsDisclosure Agreement as it pertains to CASCherry Bekaert’s team of government contracting consultants have significant CAS experience and can help your growing government contracting business navigate CAS. If you have any questions specific to your situation, our GovCon consultants are available to discuss your situation with you. Contact us.If you haven’t already, catch up on Part 1 of the series:Cost Accounting Systems Series: Part 1 – An OverviewRelated GuidanceWebinar Recording: Cost Accounting Standards (CAS): Part 1 – CAS Coverage Types, Common Standards, and CAS ApplicabilityWebinar Recording: Cost Accounting Standards (CAS): Part 2 – Cost Accounting Changes and ImpactView all Government Contracting Podcasts

Cost Accounting Standards (CAS) are 19 standards and rules promulgated by 41 U.S.C. 422. These standards impact emerging small and large businesses alike. They are designed to achieve uniformity and consistency in cost accounting practices and to improve the accuracy of cost data by ensuring its basis on consistent definitions and principles.  Ultimately, the Federal government wants a reliable basis for cost comparison and decision making. This allows them to be able to compare proposals from contractor to contractor and from a single contractor year-over-year.In this new Cherry Bekaert GovCon Podcast CAS series, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa, a Senior Manager in the Firm’s GovCon practice who spent 13+ years with DCAA holding positions such as Quality Manager, Supervisory Auditor and Field Audit Office Manager, to give an overview of CAS. Listen to find out:An overview of CASThe differences between the Federal Acquisition Regulation (FAR) and CASWhat the standards consist of, including the four main categories When CAS comes into consideration as it pertains to government contractingWhen CAS would apply to a contract and if there are certain dollar thresholdsThe current exemptions, differences in full and modified CAS coverage and applicationOverview of the disclosure statement requirementWhy contractors should consider completing a disclosure statement prior to being CAS- covered Who is responsible in administering CAS and making the required determinations and findings The benefits of abiding by CASPitfalls and compliance considerations for changes in accounting practices, M&A activity and budgeting/forecasting Cherry Bekaert’s Government Contractor Industry practice has significant  CAS experience and can help you navigate CAS compliance issues or disclosure statement development. Contact us to discuss your situation.Don’t forget to keep an eye out for the remainder of our GovCon podcast CAS series, where our hosts will go into more detail on the specifics of the individual CAS standards, general requirements, cost accounting changes and the disclosure statement. View all Government Contracting Podcasts

In this episode of Cherry Bekaert's Government Contracting podcast, Brendan Halloran, a Director in Cherry Bekaert’s Government Contracting Industry practice ,and  Jeff Annessa, a Senior Manager in the Firm’s GovCon practice continue our Contractor Business Systems series, discussing system reviews, audit findings, corrective actions, and ACO determinations.Indicators of potential findings or noncompliances during a DCAA system audit and steps contractors can takeThe DCMA system review processThe ACO process in determining the level of deficienciesWays to get a DCAA finding viewed as non-significant and differences between DCAA and DCMA Business System Deficiency terminologyTools used by the ACO and how they work through the processThe corrective action processCherry Bekaert's Government Contracting Industry advisors excel in navigating business systems requirements and intricate control environments, offering guidance in the development, maintenance, assessment, and audit preparation of compliant systems for contractors facing reviews by DCAA, DCMA, or related agencies.View all Government Contracting Podcasts

The Federal Acquisition Regulation (FAR) doesn’t provide many details on the specifics related to an adequate timekeeping system. However, the Defense Contract Audit Agency (DCAA) does have some specific requirements they look for when performing accounting system audits and labor floor checks.In this episode of Cherry Bekaert’s GovCon Podcast, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa, a Senior Manager in the Firm’s GovCon practice who spent 13+ years with DCAA and held various leadership positions such as Quality Manager, Supervisory Auditor and Field Audit Office Manager, and Jacquelin LaClair, a Manager in the Firm’s GovCon practice who spent 10 years working with DCAA and the Defense Contract Management Agency (DCMA). They discuss one of their favorite topics: timekeeping and the government’s expectations. Listen to find out:Why contractors should have written timekeeping policies and procedures in place and should consider including all types of work arrangements available by your organization (in-office, remote or hybrid)Key elements for an adequate timekeeping systemEnsuring segregation of responsibilities for labor-related activitiesTotal Hours Worked approach and why the government caresPolicies and procedures that address how direct and indirect time is recordedHow to handle paper vs. electronic timesheets  The employee and the supervisor roles in certifying the accuracy of timesheets on a daily, weekly, bi-weekly or monthly basis Record retention requirements for timesheetsAt the end of the day, would a government auditor be able to review your current timekeeping policies and procedures and compare them to what is currently happening at your organization and find no discrepancies? If you have any questions specific to your situation, we are available to discuss your situation with you. Contact us. View all Government Contracting Podcasts

The Defense Contract Audit Agency (DCAA) recently released its Fiscal Year 2022 Report to Congress. By law, the DCAA is required to submit an annual report detailing the DCAA’s activities for the previous year.In this episode of Cherry Bekaert’s GovCon Podcast, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa, a Senior Manager in the Firm’s GovCon practice who spent 13+ years with the DCAA and held various positions such as Quality Manager, Supervisory Auditor, Field Audit Office Manager and Senior Financial Liaison Advisor, and Jacquelin LaClair, a Manager in the Firm’s GovCon practice who spent 10 years working with the DCAA and the Defense Contract Management Agency (DCMA), discuss key takeaways from the DCAA’s report as an update to Cherry Bekaert’s DCAA Update webinar in February 2023. Listen in to find out about:Number of audits conducted by the DCAA, noted questioned costs and which audits were performed more frequentlyOverall return on investment (ROI) for each audit type and what this means for government contractorsInvestigative casesSustention rates by audit, how those rates are important to the DCAA and how this impacts contractorsTiming to complete an audit, by audit typeNumber of incurred cost audits performed by Independent Public Accounting FirmsHow the DCAA assists with Other Transaction Authorities (OTAs), the overall impact to the DCAA and current trendsDifference between an incurred cost audit and a low-risk memo, when one is issued over the other and how many audit reports and memos were issued by the DCAA in FY22Post-pandemic changes occurring within the DCAAEstablishment of Operations Business Enterprise and Data Intelligence Division (OBD) and what is currently being worked on with the DCAADCAA’s External Peer ReviewWhether you are a small business expecting your first audit, or a large contractor preparing for one of your many different audits, Cherry Bekaert’s GovCon consultants work with clients to prep for audits, resolve DCAA findings and have extensive hands-on experience in this subject. If you have any questions specific to your situation, we are available to discuss your situation with you. Contact usView all Government Contracting Podcasts

In this episode, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contractor Industry practice is joined by Matt Schiavone, Managing Director, and Brian Kirk, Senior Manager in the Firm’s Information Assurance & Cybersecurity practice to discuss the Department of Defense (DoD) Cybersecurity Maturity Model Certification (CMMC) 2.0 program milestone and what contractors should be doing now to prepare.Listen in as they share insights into the:Recent updates to the final CMMC rule, including next steps and an updated expectation on when it will go finalProjected timeline implications for contractors and action steps to prepareRecommendations for ensuring preparedness for timely achieving a certificationIf you have any questions regarding CMMC, Cherry Bekaert’s Information Assurance & Cybersecurity and Government Contracting advisors are available to discuss your situation with you. Cherry Bekaert is authorized by the Cybersecurity Maturity Model Certification (CMMC) Accreditation Body, Inc. (The Cyber AB) as a CMMC Third-Party Assessment Organization (C3PAO). As an authorized C3PAO, Cherry Bekaert assists DoD contractors seeking a CMMC assessment with CMMC readiness and Defense Industrial Base Cybersecurity Assessment Center (DIBCAC) Joint Surveillance Voluntary Level 2 assessments in partnership with the DIBCAC.Having undergone Level 2 assessment as a Firm, Cherry Bekaert has a deep understanding of the assessment process to guide DoD contractors seeking a CMMC assessment.Catch up on Cherry’s Bekaert’s previous guidance pertaining to CMMC 2.0:Podcast: How Will NIST Special Publication (SP) 800-171, Revision 3 Impact CMMC?Article: Updated Projected Timeline for CMMC: What this Means for Contractors and How to Prepare for CertificationFinal CMMC Rule: March 2023 UpdatePodcast: CMMC 2.0 – Where Does It Stand?Podcast: What’s New with CMMC 2.0?: August 2022 UpdatePodcast: CMMC 2.0 Brings Major Program ChangesOn-Demand Webinar: CMMC 2.0 Brings Major Program ChangesView all Government Contracting Podcasts

In this eighth episode of Cherry Bekaert’s podcast series on Contractor Business Systems, Brendan Halloran, a Senior Manager in Cherry Bekaert’s Government Contracting Industry practice who was previously a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA), is joined by Roy Rushing, a Manager in the Firm’s GovCon practice and a former Contracting Officer with various federal agencies, to talk about navigating Contractor Business Systems audits and reviews. Listen in to find out about:The two primary types of system audits/reviews: Defense Contract Audit Agency (DCAA) audits Defense Contract Management Agency (DCMA) reviewsSteps to take early on once you have received notification of a planned audit/reviewConsiderations leading up to the audit/reviewTypical timing/schedulingPointers to navigate the process once the audit/review has startedBenefits of an approved systemIf you have any questions specific to your situation, Cherry Bekaert’s GovCon Consultants are available to discuss your situation with you. Contact usIf you haven’t already, catch up on other parts of the series:Contractor Business Systems Series: Part 1 – ApplicabilityContractor Business Systems Series: Part 2 – Accounting SystemContractor Business Systems Series: Part 3 – Cost Estimating System RequirementsContractor Business Systems Series: Part 4 – Purchasing SystemContractor Business Systems Series: Part 5 – Earned Value Management SystemContractor Business Systems Series: Part 6 – Property Management SystemContractor Business Systems Series: Part 7 – Material Management and Accounting SystemCherry Bekaert’s Government Contracting Industry advisors are well versed in business systems requirements and complex control environments. We guide contractors in developing and maintaining compliant business systems, performing systems assessments, providing audit support and preparing contractors for audits or reviews by the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA) or other cognizant agencies.View all Government Contracting Podcasts

In this episode, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contractor Industry practice, is joined by Brian Kirk, Senior Manager in the Firm’s Information Assurance & Cybersecurity practice, to discuss the impact of the Draft NIST Special Publication (SP) 800-171 Revision 3 on the Department of Defense’s (DoD) Cybersecurity Maturity Model Certification (CMMC) 2.0 program. The Revision 3 draft was released on May 10, 2023, and is out for public comment through July 14, 2023.Listen in as they share insights into:Why the update to NIST SP 800-171 is significant to CMMCTimeline for the final version of NIST SP 800-171 Revision 3 and subsequent revisions to the CMMC Assessment Guide, which is based on NIST 800-171 Revision 2Revisions to the set of supporting NIST publications on protecting controlled unclassified information, including SPs 800-171A (security requirement assessment), SP 800-172 (enhanced security requirements) and SP 800-172A (enhanced security requirement assessment)A summary of the significant changes between NIST SP 800-171, Revision 2 and Draft NIST SP 800-171, Revision 3Recommendations to DoD contractors seeking a CMMC assessment with CMMC readiness and Defense Industrial Base Cybersecurity Assessment Center (DIBCAC) Joint Surveillance Voluntary Level 2 assessments in partnership with the DIBCACIf you have any questions regarding CMMC, Cherry Bekaert’s Information Assurance & Cybersecurity and Government Contracting advisors are available to discuss your situation with you. Cherry Bekaert is authorized by the Cybersecurity Maturity Model Certification (CMMC) Accreditation Body, Inc. (The Cyber AB) as a CMMC Third-Party Assessment Organization (C3PAO). As an authorized C3PAO, Cherry Bekaert assists DoD contractors seeking a CMMC assessment with CMMC readiness and DIBCAC Joint Surveillance Voluntary Level 2 assessments in partnership with the DIBCAC.Having undergone Level 2 assessment as a Firm, Cherry Bekaert has a deep understanding of the assessment process to guide DoD contractors seeking a CMMC assessment.Catch up on Cherry’s Bekaert’s previous guidance pertaining to CMMC 2.0:Article: Updated Projected Timeline for CMMC: What this Means for Contractors and How to Prepare for CertificationPodcast: Final CMMC Rule: March 2023 UpdatePodcast: CMMC 2.0 – Where Does It Stand?Podcast: What’s New with CMMC 2.0?: August 2022 UpdatePodcast: CMMC 2.0 Brings Major Program ChangesOn-Demand Webinar: CMMC 2.0 Brings Major Program ChangesView all Government Contracting Podcasts

A government contractor Material Management and Accounting System (MMAS), as outlined in Defense Federal Acquisition Regulation Supplement (DFARS) 252.242-7004, is a system for planning, controlling and accounting for the acquisition, use, issuance and disposition of material. It is under the cognizance of the Defense Contract Audit Agency (DCAA) and geared towards a contractors’ manufacturing planning and production. In this seventh episode of Cherry Bekaert’s podcast series on each of the Contractor Business Systems, Brendan Halloran, a Senior Manager in Cherry Bekaert’s Government Contracting Industry practice who was previously a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA), is joined by John Bula, a Manager, and Chris Morris, a Senior Associate, in the Firm’s GovCon practice to discuss the requirements for a contractor MMAS, when contractors are obligated to maintain a MMAS and what to expect from DCAA during an audit. Listen in to find out about:What is a Material Management and Accounting System?When are contractors obligated to maintain an adequate and acceptable MMAS? What are common elements of MMAS?When is a MMAS review or audit needed and what is expected from the DCAA?How should a contractor prepare for a review or audit by DCAA?What are operational benefits of a MMAS?What are typical issues encountered with internal monitoring, or a government audit or review?If you have any questions specific to your situation, Cherry Bekaert’s GovCon Consultants are available to discuss your situation with you. Contact usIf you haven’t already, catch up on other parts of the series:Contractor Business Systems Series: Part 1 – ApplicabilityContractor Business Systems Series: Part 2 – Accounting SystemContractor Business Systems Series: Part 3 – Cost Estimating System RequirementsContractor Business Systems Series: Part 4 – Purchasing SystemContractor Business Systems Series: Part 5 – Earned Value Management SystemContractor Business Systems Series: Part 6 – Property Management SystemCherry Bekaert’s Government Contracting Industry advisors are well versed in business systems requirements and complex control environments. We guide contractors in developing and maintaining compliant business systems, performing systems assessments, providing audit support and preparing contractors for audits or reviews by the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA) or other cognizant agencies.View all Government Contracting Podcasts

Government Property Management System is one of the six systems covered by the Department of Defense’s (DoD) Contractor Business Systems. In this sixth episode of Cherry Bekaert’s podcast mini-series on each of the six Contractor Business Systems, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, and Brendan Halloran, a Senior Manager in the Firm’s GovCon practice who previously was a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA), discuss the requirements for a Contractor Property Management System, 252.245-7003, and when it is required.Listen in to find out about:Property Management Systems and their requirementsBest practices and processes for handling government propertyPolicies, procedures and documentationFlow down requirements to subcontractorsCommon pitfallsDisposal of government propertyOther integral Business Systems requirementsIf you have any questions specific to your situation, Cherry Bekaert’s GovCon Consultants are available to discuss your situation with you. Contact usIf you haven’t already, catch up on the series:Contractor Business Systems Series: Part 1 – ApplicabilityContractor Business Systems Series: Part 1 – Accounting SystemContractor Business Systems Series: Part 3 – Cost Estimating System RequirementsContractor Business Systems Series: Part 4 – Purchasing SystemContractor Business Systems Series: Part 5 – Earned Value Management SystemCherry Bekaert’s Government Contracting Industry advisors are well versed in Business Systems requirements and complex control environments. We guide contractors in developing and maintaining compliant Business Systems, performing systems assessments, providing audit support and preparing contractors for audits or reviews by the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA) or other cognizant agencies.View all Government Contracting Podcasts

Contractors with the Federal Acquisition Regulation (FAR) Clause 52.216-7, Allowable Cost and Payment included in their cost reimbursable and time & materials (T&M) contracts are required to submit an Incurred Cost Submission (ICS). Submitting your ICS on time to the appropriate Government Administrative Contracting Officer and the cognizant Defense Contract Audit Agency (DCAA) office can be a hurdle but a requirement. Late submissions are subject to a unilateral decision by the Contracting Officer (CO) to apply a decrement factor, which will reduce the billed cost.In this episode of Cherry Bekaert’s GovCon Podcast, Brendan Halloran, a Senior Manager in the Firm’s GovCon practice who was previously a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA), welcomes Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice. Together they cover the ICS submission process, the first step in developing final indirect cost rates for contractors with flexibly priced contracts, due six months after the end of the fiscal year.Listen in as they discuss:When an ICS is a requirementICS preparation and required schedulesDCAA’s ICE ModelThe importance of the preparation, due diligence and review processFactors that can play into questioned costs and the full audit programProcess for extensions and repercussions for not timely submitting an ICS Common issues and best practicesIf you have any questions specific to your situation, Cherry Bekaert’s GovCon consultants are available to discuss your situation with you.View all Government Contracting Podcasts

In this episode, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contractor Industry practice, and Brian Kirk, Senior Manager in the Firm’s Information Assurance & Cybersecurity practice, share an update on the status of the final rule of the Department of Defense (DoD) Cybersecurity Maturity Model Certification (CMMC) 2.0 program and what contractors should be doing now to prepare.Listen in as they share insights into the:Current state of the final CMMC rule, including next steps and an updated expectation on when it will go finalComparison of the current projected timeline with the original timelineCongress’s concern about the cost of complianceProjected timeline implications for contractors and action steps to prepareIf you have any questions regarding CMMC, Cherry Bekaert’s Information Assurance & Cybersecurity and Government Contracting advisors are available to discuss your situation with you. Cherry Bekaert is authorized by the Cybersecurity Maturity Model Certification (CMMC) Accreditation Body, Inc. (The Cyber AB) as a CMMC Third-Party Assessment Organization (C3PAO). As an authorized C3PAO, Cherry Bekaert assists DoD contractors seeking a CMMC assessment with CMMC readiness and Defense Industrial Base Cybersecurity Assessment Center (DIBCAC) Joint Surveillance Voluntary Level 2 assessments in partnership with the DIBCAC. Having undergone Level 2 assessment as a Firm, Cherry Bekaert has a deep understanding of the assessment process to guide DoD contractors seeking a CMMC assessment.Catch up on Cherry’s Bekaert’s previous guidance pertaining to CMMC 2.0: Podcast: CMMC 2.0 – Where Does It Stand?Podcast: What’s New with CMMC 2.0?: August 2022 UpdatePodcast: CMMC 2.0 Brings Major Program ChangesOn-Demand Webinar: CMMC 2.0 Brings Major Program ChangesView all Government Contracting Podcasts

In Part 1 of this two-part series, Cherry Bekaert’s Government Contracting Industry advisors discussed what companies need to consider when being acquired or acquiring a company that has federal contracts that are a significant part of their business, including some of the administrative items critical to that process. In Part 2 Brendan Halloran, a Senior Manager in Cherry Bekaert’s Government Contracting Industry practice, is joined by John Ure, a Tax Partner and member of the Firm’s GovCon practice, to discuss some of the additional administrative steps and tax considerations.Listen to find out about:Contract novations and Novation AgreementsAdministrative Contracting Officers’ (ACO) expectations in a Novation packageStandard acquisition and due diligence considerations for an S CorpBeneficial sales structures from a tax perspective for company ownersPopular sales structures for C Corps and the often-overlooked 1202 saleTax and planning considerations in preparation for a Letter of Interest (LOI)Considerations for government contractors when bringing on an acquisitionIf you have any questions specific to your situation, Cherry Bekaert’s GovCon consultants are available to discuss your situation with you. Contact usView all Government Contracting Podcasts

An Earned Value Management System (EVMS) refers to the software, processes, tools, templates and management controls a contractor uses to accomplish their earned value management activities in accordance with the guidelines established by the Electronics Industry Alliance (EIA) Standard 748. Earned Value Management Systems (EVMS) is the standard for DoD (Department of Defense) Earned Value Management System Programs and Defense Federal Acquisition Regulation Supplement (DFARS) 252.234-7001 Notice of Earned Value Management System.In this fifth episode of Cherry Bekaert’s podcast series on each of the six Contractor Business Systems, Brendan Halloran, a Senior Manager in Cherry Bekaert’s Government Contracting Industry practice who was previously a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA), and John Bula, a Manager in the Firm’s GovCon practice, discuss the requirements for a Contractor EVMS, when it is required and what it entails.Listen in to find out about:What is an Earned Value Management SystemWhat is being seen in solicitations and RFPsEVMS requirements and key componentsDCMA EVMS guidelines, surveillances and reviewsProcesses, documentation, metrics and reportingBenefits in having an EVMS system in placeEVMS Best practicesIf you have any questions specific to your situation, Cherry Bekaert’s GovCon Consultants are available to discuss your situation with you. Contact usIf you haven’t already, catch up on the series:Contractor Business Systems Series: Part 1 – ApplicabilityContractor Business Systems Series: Part 1 – Accounting SystemContractor Business Systems Series: Part 3 – Cost Estimating System RequirementsContractor Business Systems Series: Part 4 – Purchasing SystemCherry Bekaert’s Government Contracting Industry advisors are well versed in business systems requirements and complex control environments. We guide contractors in developing and maintaining compliant business systems, performing systems assessments, providing audit support and preparing contractors for audits or reviews by the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA) or other cognizant agencies.View all Government Contracting Podcasts

What are size standards and how does the Small Business Administration (SBA) determine a small business’s size? In this episode of Cherry Bekaert’s Government Contracting podcast series, John Ure and Carol Marin, Tax Partners in Cherry Bekaert’s Government Contractor Industry practice join James Kahrs, a Business Development Director in the Firm’s GovCon practice. Together, they discuss SBA size standards and recent threshold adjustments, which are used to determine whether a business entity is considered small, and subsequently eligible for government programs and preferences reserved for small business concerns.Listen in to find out about:SBA size standards and how they are establishedSBA calculation of annual receipts SBA calculation of number of employeesSBA’s recent adjustment of the size standard thresholds If you have any questions specific to your situation, Cherry Bekaert’s GovCon Consultants are available to discuss your situation with you. Contact usView All Podcasts from this Series. View all Government Contracting Podcasts

What is a Contractor Purchasing System? When is a Contractor Purchasing System required? What trends are being seen in solicitations?The fourth episode of Cherry Bekaert’s podcast series on each of the six Contractor Business Systems features Brendan Halloran, a Senior Manager in Cherry Bekaert’s Government Contracting Industry practice who previously was a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA), and John Bula, a Manager in the Firm’s GovCon practice. Together they discuss the requirements for a Contractor Purchasing System, as outlined in Defense Federal Acquisition Regulation Supplement (DFARS) 252.244-7001, when it is required and what it entails. Listen in to find out about:What constitutes an acceptable and compliant Contractor Purchasing SystemWhat triggers the Contractor Purchasing System requirementKey components and considerations of a Contractor Purchasing SystemPolicies, processes and documentation to demonstrate complianceBenefits contractors can realize in having an approved systemContractor Purchasing System Reviews (CPSR)If you have any questions specific to your situation, Cherry Bekaert’s GovCon Consultants are available to discuss your situation with you. Contact usIf you haven’t already, catch up on the first three parts of the series:Contractor Business Systems Series: Part 1 – ApplicabilityContractor Business Systems Series: Part 2 – Accounting SystemContractor Business Systems Series: Part 3 – Cost Estimating System RequirementsCherry Bekaert’s Government Contracting Industry advisors are well versed in business systems requirements and complex control environments. We guide contractors in developing and maintaining compliant business systems, performing systems assessments, providing audit support and preparing contractors for audits or reviews by the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA) or other cognizant agencies.View all Government Contracting Podcasts