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Six Business Systems

SF1408 Accounting System Review

Has your prime or contracting officer told you that you need an approved or adequate accounting system before your next award? What exactly is an approved or adequate accounting system? In the world of government contracting, most people think of DCAA-approved accounting systems. There are a few misnomers in that statement: DCAA does not approve…

Are You Ready for a Contractor Purchasing System Review (CPSR)?

A Contractor Purchasing System Review (CPSR) is performed by the Government to evaluate the effectiveness and efficiency of the contractor’s stewardship (spending) of Government funds on behalf of taxpayers and compliance with established government social and economic policies. The CPSR is like most audits in that it reviews the contractor’s policies and procedures, internal training,…

Is Your Government Property Management System Up to Par?

What is Government property? Government property is defined in FAR 45 and means all property owned or leased by the Government. Government property includes both Government-furnished property (GFP) and contractor-acquired property (CAP). Government property includes material, equipment, special tooling, special test equipment, and real property. Government property does not include intellectual property and software. Government…

WAWF is now iRAPT

Effective Monday, November 3, 2014, WAWF is now iRAPT. With the release of e-Business Suite 5.6, the Wide Area Workflow (WAWF) name has been changed to Invoicing, Receipt, Acceptance, and Property Transfer (iRAPT). The WAWF e-Business Suite application was developed as the new home page with a portal appearance and provides access to: iRAPT (previously…

5 Steps to a Bullet-Proof Chart of Accounts

Follow FAR Part 31 Eliminate the “low-hanging fruit” Consistency Be sure to check out my presentation “Implementing a FAR Part 31 Compliant Cost Accounting System.”

Business Systems Rule

The Department of Defense (DoD) established, through what is called the “Business Systems Rule,” mandatory requirements for six contractor business systems, through changes to the DOD Federal Acquisition Regulation Supplement (DFARS), for contracts awarded after May 18, 2011. DFARS § 242.70; see also 76 Fed. Reg. 28,856 (May 18, 2011). The Business Systems Rule requirements…