Few industries carry the multitude of opportunities and risks that exist in the government contracting arena. On the one hand, a company can receive a major contract that doubles or triples their revenue overnight. On the contrary, a business can both lose a large contract fairly quickly and be burdened with oversized infrastructure. These opportunities and challenges are manageable, but good advice is necessary to build a successful government contracting business.
RS&F has experience in the various aspects of managing and growing a government contracting business. On a strategic level, we help government contractors develop business plans and projections that direct a company's marketing, operations, and investment activities. Further, we assist companies in identifying the right capital partner that understands the government contracting business and can provide the resources to help a business grow.
On an operational level, we help government contractors develop efficiencies in their underlying business to protect margins and generate profits. Proactive and frequent analysis of a company's overall and unit-level profitability is imperative. Further, contract level gross profit is important to understand due to the long-term nature of many government contracts. If a business does not understand whether it is making money and just deposits checks, this could lead to net losses and business challenges.
RS&F's team has extensive knowledge of DCAA guidelines and performs compliance engagements for government contractors that must conform to these guidelines. We also have experience with the most widely-used accounting systems within the government contracting environment. Additional reports and schedules with which we have experience include:
- Accounting policy and procedures guidelines
- Business valuations
- Accounting system design & implementation
- Capital formation
- Contract close-out
- Defense Contract Audit Agency (DCAA) compliance
- Incurred cost submissions
- Exit planning, including succession and M&A
- Federal Acquisition Regulation
- Forward pricing models
- Policy & procedure development
- Price & cost analysis
- Review to audit transition
- Service Contract Act of 1965 compliance