Government contractors performing work against flexibly-priced contracts or grants must have an adequate accounting system as defined in FAR 53.209-1(f), 2 CFR 200, or other guidance. Most awards will ultimately point to the SF 1408 Preaward Survey of Prospective Contract Accounting System, DFARS 252.242-7006 Accounting System Administration, or similar requirements like the SBIR program.

The purpose of the SF 1408 is to determine the adequacy of a contractor’s accounting system as follows:

  •  Compliance with U.S. GAAP
  •  Segregation of direct and indirect costs
  •  Job costing by contract and CLIN
  •  Proper calculation and allocation of indirect costs
  •  Timekeeping and labor distribution
  •  Exclusion of unallowable costs

We perform the same survey as government auditors and provide you with two reports:

  •  Internal Report – 10-page detailed report listed by each requirement
  •  External Report – 2-page summary report suitable for a prime and some government agencies

Why Work with Left Brain Pro

Since this engagement is an examination, not an audit, performed under the AICPA’s Statement on Standards for Consulting Services, we can help you fix the issues identified during the gap analysis. You also get a report accepted by primes and many government agencies and offices.

$7,500 plus travel for most small or growing organizations with a single legal entity.

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