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High-Growth Government Contractor News is published monthly by Pleasant Valley Business Solutions (PVBS) for fast-growing companies that provide services and/or sell products to the Federal Government. Submit articles to newsletter@pvbs.net. Contact PVBS at sales@pvbs.net.
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In this Month’s Newsletter
We work with several of the top accounting firms for government contractors to ensure that their clients have the optimum financial management solution that will aid in their growth while ensuring DCAA compliance. Two of these firms have submitted articles that comment on recent FAR (Federal Acquisition Regulation) amendments.
We are also excited to announce that we have moved our main offices to a larger, more vibrant facility at 11720 Sunrise Valley Drive in Reston. The offices feature a state-of-the-art training center and multiple briefing facilities. We look forward to having your company over for a briefing in the future.
On December 21, we’ll be holding our final webinar of the year entitled “Why are So Many Companies Choosing Microsoft Dynamics NAV for Government Contractors?” Visit the link below to register.
Also, I invite you to visit our new YouTube channel to see our new solutions overviews and testimonials.
All of us at PVBS wish you and your family a happy and fruitful holiday season and new year.
Sincerely,
Bernard Mustafa
CEO, PVBS
www.pvbs.net |
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 New Rule Requires Contractor Disclosure of Executive Compensation - More Transparency or More Bureaucracy?
By Bill Walter, CPA, Principal, Government Contracting Consulting, Goodman and Company.
The Obama administration’s commitment to more open government has resulted in changes in reporting requirements that affect federal contractors. An interim rule, which took effect July 8 and will be phased in over the next nine months, amends the Federal Acquisition Regulation (FAR). The intent is to ensure that FAR complies with two federal laws mandating greater transparency in government.
The change requires affected contractors to report (1) names and compensation of the five highest paid executives from the most recently completed fiscal year and (2) first-tier subcontract awards on contractors and orders of $25,000 or more. These must be reported to two public-access websites, FSRS.gov and CCR.gov.
Read more here » |
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 FAR Rule Clarifies Cost or Pricing Data Definitions
Beason and Nalley recently provided some interesting commentary on The Civilian Agency Acquisition Council and Defense Acquisition Regulations Council’s final FAR rule clarifying the distinctions among “cost and pricing data”, “certified cost and pricing data”, and “data other than cost or pricing data”. In a separate article, they discuss FAR 31.205-33(f), which stipulates documentation requirements that demonstrate the nature and purpose of costs incurred in connection with consulting and professional arrangements.
Read both articles here |
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How to Get Beyond the Limitations of Legacy Accounting Software
Government contractors saddled by their legacy accounting software are significantly hampered by the limitations the software places on them. The accounting and management information system provides businesses with the tools necessary to streamline business processes, make transactions manageable, and improve employee efficiency and accuracy. By moving away from older, functionally obsolete software, government contractors are making an investment that has a measurable and high payback.
A major benefit of moving away from legacy, inflexible software is that newer applications have many new features that lead to larger benefits. Instead of just "keeping up" with the software, the accounting and finance staff can now concentrate on producing and analyzing more valuable information on your business for your executive team. For example, the enhanced reporting and dashboards now readily available in solutions such as Dynamics NAV enhance job tracking, billing and management.
Government Contracting Financial Management Expert Richard Marksberry recently gave this presentation to a packed house of growing government contractor executives who are finding their growth restricted by the obsolete software they are currently using.
See the presentation here » |
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Fast Growing Woman-Owned Business Leaves Deltek for Microsoft Dynamics NAV for Government Contractors
PVBS announced today that fast-growing, woman-owned government contractor Imagine One (Colonial Beach, VA) has moved to its Microsoft Dynamics NAV for Government Contractors.
Imagine One Vice President of Corporate Operations Ann Graziano said that Imagine One wanted to move to the Microsoft platform for some time and that it had taken its former application “as far as it could go.” She said that the Microsoft Dynamics NAV solution is better suited to make more use of the large amount of financial and contract data Imagine One had collected over the years.
We faced many limitations in getting access to the data to do roll ups, analytics or to even send out reports to the field. We have a lot of employees and customers who we need to get reports to and it became increasingly difficult to do so effectively. We needed an enterprise business solution that could help us utilize all of the important data we had available to us.”
Read the complete press release here » |
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