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Have questions regarding government cost accounting, such as fringe, overhead and G&A costs, ICE Models, Rate calculations & audits, FAR & DCAA regulations?
 
Email Debbie Goode, CPA
Website: Hoyman Dobson
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If you are an established business located in Central Florida and are interested in selling your product or service to the government, take advantage of the FREE counseling available through the Procurement Technical Assistance Center (PTAC) at the Small Business Development Center at UCF. Start your journey into the world of government contracting with the right tools and proven strategies.
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                                    October 2010
Greetings from your Government Contracting Advisory Team (GCAT).

It was good to see some of you at the KSC Business Expo 2010. Please be sure to email us with any questions you may have on government contracting.

The article below was posted on LinkedIn by Ed Kinberg, one of our GCAT members. If you are on LinkedIn, please join GCAT, so you can take advantage of our resources there as well.
  • The Regulatory Hurricane - by Tom Donohue, President and CEO, U.S. Chamber of Commerce - about the very significant regulatory problems Government contractors will experience over the next few years.

Thank you for tuning in and remember we are here to help you grow!

 

Government Cost Accounting
Taking the Mystery out of the Incurred Cost Electronically (ICE) Model 

By Debbie Goode, CPA, GCAT Founder
Audit Director, Owner
Hoyman Dobson

Have questions for Debbie? Send Debbie an email
  

As a Government contractor you might have heard of the ICE Model. If not, chances are you may have to submit an ICE Model on one of your future government contracts. Below we are outlining the basic elements of the ICE model to help clarify what the purpose of the model is, who should use it, and when.


What is DCAA's Model Incurred Cost Proposal (the ICE Model)?


The ICE model is the electronic version of the Model Incurred Cost Proposal outlined in Chapter 6 of the Defense Contract Audit Agency Pamphlet (DCAAP) No. 7641.90. Simply put, the ICE model is an extensive spreadsheet developed by the Defense Contract Audit Agency (DCAA), which is designed in accordance with the FAR regulations. The model is used by government contractors to complete and submit their rates to the DCAA office prior to the DCAA audit.


What is the purpose of the ICE Model?

The ICE Model was developed to:

  • Summarize government contractor's financial and accounting records to compute indirect rates, direct costs by contract, and indirect costs by pool, including unallowable costs.

Read the rest of the article>>

International Trade Strategies
 
$100,000 Recovered on Imported Goods Using Duty Drawback: One Manufacturer's Story

By Beth Gitlin,President
Global Passages, LLC
Have questions for Beth? Send Beth
an email
 

Are you importing merchandise into the US that will possibly be exported out of the US at a later date? Have you ever imported a component or material into the US, used it in your manufactured product, and then exported that product to a foreign country? Did you know that in both of these situations, you can apply to US Customs for Duty Drawback - a refund of your duties paid on your imported materials?


Duty Drawback is an underutilized program sponsored by the CBP (Customs and Border Patrol) under the Tariff Act of 1930 in which a company can receive a refund of duties paid on any imported materials that are contained in the products that they are exporting.

Companies that take advantage of drawback are able to compete more effectively in foreign markets. Since drawback reduces the cost of imported materials, cash flow and profits improve substantially.


Each year thousands of companies continue to overlook potential duty refunds while their counterparts recover millions of dollars.


Read the rest of the article>>

Meet the GCAT

The Government Contracting Advisory Team
Through the independent services of the Government Contracting Advisory Team (GCAT) businesses can quickly find professional resources to help them succeed in all areas of government contracting.  
 
GCAT can help you with:
  • Marketing & GSA Schedules (including GSA Contract Administration)
  • Accounting services (including assistance with Government cost accounting systems, audit/reviews, and DCAA representation) 
  • Insurance needs (including Defense Base Act/Foreign Exposures)
  • Legal services (such as Intellectual Property Strategies & Contract Negotiation)
  • I.T. Services, including DelTek hosting
  • Proposal Planning & Development
  • International trade strategies and trade compliance solutions, including CTPAT & ITAR
  • Quick access to industry veterans and resources
  • And much more!
The GCAT Members include:
The individual companies participating in GCAT are not affiliated with each other for any purpose other than providing educational programs for issues related to government contracting.  Participating companies do not share fees and, have no obligation to refer client's to companies participating in GCAT and do not assume any responsibility or liability for information provided by any member of GCAT.