Government Contractor

Companies are looking for new ways to expand their business, and one viable option is government contracts. The government market provides unique opportunities and challenges which require special resources. At EKS&H, we have a dedicated team of professionals who focus on assisting government contractors.

Whether your needs include assistance with Federal Acquisition Regulations, Cost Accounting Standards, or indirect rate structures, we have the experience to help. We strive to understand your goals and provide solutions that help you achieve them. We believe in going beyond the traditional role of accountant and tax advisor, taking a hands-on-approach with every relationship, providing exceptional proficiency, knowledge based in experience, and a committed team on each engagement.

We provide business consulting services relating to government contractors, including assistance with:

•   Cost Accounting Standards (CAS)
•   Federal Acquisition Regulations (FAR)
•   Government Contractor Specific Accounting Policies and Procedures
•   CASB Disclosure Statements (DS-1)
•   Indirect Cost Rate Structures
•   Defense Contract Audit Agency Issues
•   Incurred Cost Submissions and Provisional Rates

Government Contractor Resources

"Cloud Computing for Government Contractors"
by Doug Askam

The technology world continues to provide new phrases that require many of my contractor clients to scratch their heads and get nervous about technology changes they will be forced to adopt. A phrase currently raising questions for business owners is “cloud computing”. To view the full article, please click here.

 "Why Should I Consider an ESOP?"
by Sandy Shoemaker and Karla Whittenburg

Over the past several years, the ability to think about business succession and transition has been difficult for most business owners.  But I have to say, none of us are getting any younger.  As you contemplate your golden years, Employee Stock Ownership Plans (ESOPs) are a vehicle that you should consider in your business transition plan. To view the full article, please click here.

 "What Does the Interim Rule on Business Systems Mean for Contractors?"
by Karla Whittenburg

On May 18, 2011, the Department of Defense (DoD) published an interim rule amending the Defense Federal Acquisition Regulation Supplement (DFARS) which defines the elements of and process for determining the acceptability of six contractor business systems.  These systems include accounting, estimating, purchasing, earned value management, material management and accounting, and property management business systems.  To view the full article, please click here.

 "Considerations Under Status of Forces Agreements"
by Karla Whittenburg

Contractors doing business with the U.S. government in foreign countries should be aware of the potential foreign tax consequences for both their overseas operations and their employees working there.  Unlike many countries, the U.S. taxes its citizens and companies on their worldwide income.  Activity outside of U.S. borders may subject a U.S. individual or company to a foreign country’s tax regime.  To view the full article, please click here.

"State Taxation Issues for Government Contractors"
by Karla Whittenburg

Government contractors commonly use a variety of resources to perform their contracts—their own statutory employees, independent contractors, or affiliated entities. Work is often performed in several different states/cities, for customers that reside in Washington, D.C., or other Eastern states. Because of these varied arrangements, the state income tax consequences to businesses, and their shareholders, can be surprisingly diverse. To view the full article, please click here.

"Impact on New DCAA Sampling Guidance"
by Karla Whittenburg and Nathan Gordon

The Defense Contract Audit Agency (DCAA) continues to overhaul its procedures for systems and incurred cost audits based on Government Accountability Office (GAO) reports in which some of the audit reports and findings reviewed were determined to be inadequate and insufficiently supported...to view the full article, please click here.

"M&A" Why is 2011 Being Slated as a Strong M&A Year?"
by Lori Gibson

The public sector is in a curious environment as we enter 2011.  According to the Washington Technology, October 2010 edition, pricing on publicly traded government service companies is taking a beating from investors: Federal services are down 19% and defense prime contractors are down 5%. Valuation multiples are at their lowest levels in the past decade at an average of 6.5x trailing 12-month EBITDA.  However, the media is hailing 2010 as one of the strongest years ever for industry consolidation...to view the full article, please click here.

"Federal Funds Available for Clean Tech"
by Brent Hendricks and John Kapral

Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grant programs are long¬standing research-grant opportunities made available through federal government agencies...to view the full article, please click here.

"Lease Accounting Update for Contractors"
by Shane Brown and Chris Banks 

Accounting rules are changing to a more principle-based approach through the collaboration of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). A recent convergence project resulted in a new Exposure Draft of the Proposed Accounting Standards Update to Leases (Topic 840) released on August 17, 2010…to view the full article, please click here.

For more information, call Karla Whittenburg at 303.740.9400