Thursday, July 5, 2012

DCAA's Information for Contractors

Thanks to a reader for pointing out that DCAA (Defense Contract Audit Agency) has finally updated its Information for Contractors pamphlet after seven and a half years. This is a very useful guide, especially for newer contractors (in fact, this guide was at one time titled "Information for New Contractors"). The previous version (January 2005) was woefully outdated and needed a refresh.

The Guide is divided into six sections, now called "Enclosures" versus "Chapters" in the previous versions. These sections include:

  1. Introduction to the Defense Contract Audit Agency
  2. Preaward Surveys of Prospective Contractor Accounting Systems (an excellent resource for contractors needing to ensure their accounting systems will meet Government contracting requirements)
  3. Price Proposals
  4. Cost Accounting Standards
  5. Contract Financing and Interim and Final Vouchers 
  6. Incurred Cost Proposals

This generic guide represents DCAA's "view" of how things should happen in Government contracting. Sometimes practice and theory diverge. Nevertheless, Government contractors and prospective Government contractors will find a wealth of information in it and we believe it is a good addition to contractor' libraries.

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