Jump to content

Search the Community

Showing results for tags 'accounting'.

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Instructions and Terms of Use
    • Terms Of Use
    • Before You Register, Before You Post, Instructions for Writing Your Question
  • Contracting Forum
    • What Happened?
    • Polls
    • For Beginners Only
    • About The Regulations
    • COVID-19 And Its Effect on Contracting
    • Contracting Workforce
    • Recommended Reading
    • Contract Award Process
    • Contract Pricing Including CAS & Allowable Costs
    • Contract Administration
    • Schedules, GWACS, MACs, IDIQs
    • Subcontracts & Subcontract Management
    • Small Business, Socioeconomic Programs
    • Proposed Law & Regulations; Legal Decisions

Blogs

  • The Wifcon Blog
  • Don Mansfield's Blog
  • Government Contracts Blog
  • Government Contracts Insights
  • Emptor Cautus' Blog
  • SmallGovCon.com
  • The Contractor's Perspective
  • Government Contracts Legal Forum
  • NIH NITAAC Blog
  • NIH NITAAC Blog

Calendars

  • Community Calendar

Product Groups

There are no results to display.

Categories

  • Rules & Tools
  • Legal Opinions
  • News

Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


AIM


MSN


Website URL


ICQ


Yahoo


Jabber


Skype


Location


Interests

Found 2 results

  1. Hi All, I work for a small federal contractor (90% of our work is gov't contracts) that does not have a purchasing department. Rather, our engineers do their own purchasing. Needless to say, this is a nightmare for me from a compliance standpoint, and the President of the company (also an engineer) is resistant to change. I've recently discovered that we are issuing POs for direct charge parts and materials where multiple contracts are charged to one PO. However, rather than noting the allocated amount being charged to each contract's project number, we are assigning a percentage value of the cost of each line item that is to be charged. Here's an example: Widget qty 10 unit price $1 total $10 Contract #A 20% Contract #B 35% Contract #C 42.5% IR&D Project 2.5% I've never seen a company do this before. Is this ok, or do we need to show the exact dollar amount allocable to the contract or project to which the items are charged? Thanks in advance for your thoughts!
  2. Hi All, Although I've been using WIFCON as a resource for almost 15 years, this is the first time I've actually asked a question, so thanks in advance for sharing you knowledge with me, and for all of the guidance in the past 15 yrs! I've recently taken a new job at a small R&D contractor, and I'm dealing with an issue that is utterly confounding me, as I've never dealt with leased equipment under a gov't contract. Here's the facts relevant to the situation (all of which took place prior to my employment): 1. Our company is leasing some scientific equipment to be used on an R&D contract for our DOD customer. 2. The company from who we leased the item wanted pre-payment prior to delivery of the equipment. 3. The Government contracts attorney we were using prior to my arrival advised that pre-payments are not allowable, and we would have to get permission from our KO to bill the full amount of the lease to the contract. 4. We requested permission from the ACO, who's response was "I don't have a problem with it". 5. To complicate matters, we now need to use this leased equipment on two other contracts, but it has already been charged and billed to one contract. Here's my questions: 1. I can't find any reference to pre-payment of leased equipment being unallowable. Does anyone have a reference for this? 2. In order to use the leased equipment (already billed to one contract) on another contract, what do I need to do from an accounting standpoint? Also, leases are not GP subject to part 45, but do I need to also request KO permission to use the leased equipment on another contract? Thanks again for your help! --j
×
×
  • Create New...