FAR/DFARS compliance, DCAA audit trail, and cost accounting standards for federal contractors. Nexus gives your finance and contracts team the infrastructure to win, execute, and close government contracts profitably.
Federal contractors on cost-reimbursable contracts must submit annual incurred cost proposals within 6 months of fiscal year end. Preparing these from an inadequate accounting system leads to DCAA findings and cost disallowances.
Bid and proposal costs are allowable under FAR but must be tracked separately, allocated appropriately, and documented carefully. Without structured B&P tracking, allowable costs go unrecovered.
CAS-covered contractors must maintain a Disclosure Statement describing their cost accounting practices and obtain government approval before making changes. Maintaining CAS compliance as the business evolves requires ongoing attention.
FAR / DFARS
CAS (Cost Accounting Standards)
DCAA (Defense Contract Audit Agency)
OMB Circular A-133
Incurred cost
submissions prepared on time without DCAA findings
B&P costs
tracked and recovered consistently
DCAA pre-award
survey findings eliminated
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