The Federal Acquisition Regulation (FAR) is contained in a book that is 1,792 pages and almost two and a half inches thick. The government Cost Accounting Standards (CAS) are described in another book that isn’t much smaller. It is 841 pages and 1.5 inches thick. These two publications make up the rules and regulations all government contractors must follow and reinforce the fact that accounting for government contracts adds significant complexity to that required for commercial business.
This complexity makes it all the more important to forge partnerships with professionals who have a mastery of government-contracting requirements, can keep abreast of changes, and have expertise in the tools necessary to help you develop and maintain compliance.
The first relationship to develop is with a software and technology partner who specializes in serving government contractors. You need a partner who knows the business requirements typically encountered by a company that contracts with the government, can deliver a software/technology needs assessment that unearths your requirements, and can implement, configure, and if necessary, customize a financial software system that is fully FAR and CAS compliant and ready to withstand DCAA audits. This partner should also be able to recommend a set of policies and procedures to operate that system and guide your organization.
Synergy Business Solutions is that partner. We are project-accounting experts focused on project-driven government contractors. Our consultants and staff are CPAs and CMAs trained at advanced classes in Federal Publications Government Contracting Seminars, certified as Microsoft Solution Professionals, experts in all the modules of Microsoft Dynamics SL (the flagship Microsoft solution for government contractors), and knowledgeable about other applications for government contractors that integrate with Dynamics SL.
Visit our website to learn more about how Synergy, a West Coast Microsoft Dynamics SL partner, empowers government contractors.