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GovCon Execs Attend Microsoft Dynamics NAV 2009 Launch Event in Reston |
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Over 100 government contractor executives attended the Microsoft Dynamics NAV 2009 for Government Contractors product launch on March 19. The event marked the debut of Dynamics NAV 2009 in the Washington DC area. PVBS was selected by Microsoft to host the official product launch for Government Contractors and Resellers. Some people have called this product launch Microsoft's most important product introduction of the past three years.
Below, PVBS Chief Executive Officer Bernard Mustafa kicked off the event which was held at the Reston Microsoft Technology Innovation Center.
A highlight of the event was an expert panel discussion on the latest DCAA audit requirements and strategies for preparing for inevitable audits. The panel featured (l to r) Rich Marksberry of Tatum LLC, Nate Echols of Windwalker, and Carl Sweetnam of Black Ink. 
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From the Desk of Bernard Mustafa
Strategies for Passing Your Next DCAA Accounting Systems Audit
Every government contractor we present our solution to wants to know how Dynamics NAV will help them with their inevitable DCAA audits, especially now with the more stringent pass/fail requirements. It's a fair question we look forward to answering. There's been a lot written recently about the DCAA's operations and how this impacts companies providing services to the Federal Government.
We published a white paper on our web site that offers examples of how some of our clients have used Dynamics NAV to prepare for their audit. For example, Steve Miller at Powertek said, " Dynamics NAV not only provided us with the system tools to be compliant in the areas of timesheets, cost collection and indirect allocations, but its flexibility also gave us the ability to work with contracts with varied and complex structures." Powertek went live in July 2008 and just successfully passed its first DCAA 1408. Click here to download the white paper.
We are very interested in learning more about your DCAA audit concerns. Call me at 703.391.0977 to discuss. Best regards, Bernard Mustafa CEO, PVBS www.pvbs.net |
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| Holland & Knight LEGAL TIPS: Some Alternatives to Selling the Company |
William J. Mutryn, a partner in Holland & Knight's Northern Virginia office, and co-Leader of the firm's national Corporate and M&A Practice Group frequent answers legal questions concerning mergers and acquisitions for our newsletter. He practices principally in the areas of mergers and acquisitions, commercial transactions, corporate governance and finance. Over the last few years, he has served as lead counsel in over 50 M&A transactions and is the President of ACG's National Capital Chapter. For previous Q&A, please click here.
 QUESTION: What are alternatives to a sale of a company for an owner to achieve liquidity and compare the advantages and disadvantages of each?
ANSWER: If the owner of a company desires to achieve liquidity and its sale transaction is impractical or noneconomical, a number of alternatives are available. First, the company can recapitalize itself with debt including senior debt and subordinated debt and use the debt to make stock repurchases or distributions to the owners. Secondly, the company may be able to recapitalize with equity by selling a minority share of the company to equityholders and achieving some liquidity through the sale of minority interests. Third, the company can consider an Employee Stock Ownership Plan ("ESOP"). An ESOP can be formed to purchase either a minority interest, a majority interest, or all of a company and there are favorable tax benefits for sales of stock to ESOPs. With ESOP transactions however, there are additional tax and legal issues which will involve significant costs as well as enhanced legal requirements.
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| DC Region GovCon of the Year Nominations Open Until June 7 |
The Fairfax County Chamber of Commerce's Northern Virginia Government Contractors Council (GovCon) announced the 7th Annual Greater DC Government Contractor Awards nomination period is now open. A number of PVBS clients have been recognized in the past. Click here to apply. |
