In late January this year, the DoD issued a final ruling to update, clarify and streamline Government property management requirements. The result of this ruling creates a new GFP Reporting clause - DFARS 252.245-7005, Management and Reporting Government Property. The new rule consolidates four existing clauses into one (DFARS 252.245-7005) and therefore removes the following [...]
Bowhead Case Study The Bowhead family of companies offers a wide range of services encompassing information technology, advanced engineering, manufacturing and program management. Bowhead’s 3,000+ employees deliver exceptional support to defense and civilian government agencies across the United States and worldwide. Bowhead holds more than 300 contracts and undergoes continuous audits by the Defense Contracting [...]
In 2017, we wrote the original DCMA Survival Guide to provide the GovCon community support in navigating the challenging DCMA Audit landscape. Government contractors need to stay compliant and up to date with the detailed requirements and obligations of their contracts. Specifically, all employees need to have a thorough understanding of their contract obligations as well [...]
The Defense Contract Management Agency (DCMA) is an agency tasked with supporting the Department of Defense (DoD), working directly with defense suppliers and contractors. The agency oversees the compliance process that was mandated by the DoD for the acquisition and handling of certain government equipment. A central part of DCMA's mission is to ensure that [...]
This article was originally published on the Deltek Costpoint blog. Read the entire article there. Passing DCMA Audits with A2B Tracking and Costpoint By Peter Collins Defense Contract Management Agency (DCMA) Audits come with the territory when conducting business with the United States Department of Defense (DoD) and other government agencies. DCMA Audits ensure that [...]
Trident Research Case Study Trident Research is an engineering solutions company with headquarters located in Austin, Texas. Their mission is to create world class instrumentation systems and technologies that push the boundaries of innovation. Founded in 2001, Trident benefits from the close proximity to the University of Texas at Austin and leverages the creative [...]
Why Spreadsheets are Inadequate to Track Government Property (GFP), Assets and Inventory Accounting for Government Property, equipment and inventory that’s been provided to you as a Defense contractor, involves precise record keeping and physical inventory controls to ensure you know what you have and where it is located at all times. Spreadsheets are inadequate [...]
This article was originally published in the Deltek Government Contracting Blog. To read the entire Deltek article click here. DCAA and DCMA Audit Obligations for Defense Contractors By Peter Collins The two previous fiscal years (2018 and 2019) marked the first full financial statement audits of the Department of Defense (DoD). These were massive audits [...]
The DoD has been trying to improve its financial accountability for years. One could easily point to the 1990 CFO Act as a significant milestone that recognized the need to improve the government’s financial management. Unfortunately, the Defense Department is the only federal executive agency that has not passed a financial statement audit since then. [...]
A2B Tracking Webinar Series presents:Government Property Audits in 2020Thursday, May 7th at 2:00pm ET Annual Defense Audits are the new normal. But in 2020, there is an increased focus on the accountability of government property in the possession of contractors. This increased emphasis is putting pressure on Defense Contractors to maintain existence and completeness of [...]
