Cherry Bekaert: Government Contractors Guidance

In this episode of Cherry Bekaert’s GovCon podcast, Neal Beggan is joined by cybersecurity professionals Steven Ursillo and Brian Kirk for a comprehensive deep dive into the current state of Cybersecurity Maturity Model Certification (CMMC) compliance.  They discuss how 48 CFR will reshape the enforcement of cybersecurity requirements in government contracts. This episode breaks down what the 48 CFR rule means, how it connects to DFARS and 32 CFR, and what contractors should be doing now to stay ahead of the rollout.   Listen to learn more about: The definition of CMMC and why it matters An overview of CFR 48 CFR 48 timeline and rollout Potential readiness and compliance challenges and how to overcome them Action items to prepare for CFR 48   POCs Steve Ursillo, Partner Brian Kirk, Senior Manager   Related Insights: Article | DoD CMMC Requirements: A Guide for Defense Contractors Article | Cybersecurity Maturity Model Certification (CMMC): Compliance Process & FAQs   View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s GovCon Podcast, Advisory Managing Director Michael Cippel and Senior Audit Manager Sarah Tucker explore the foundational principles and nuanced challenges of joint ventures (JVs) within the government contracting sector.   Tune in to learn about: ►    Definition and Structure of JVs ►    Strategic Benefits of JVs ►    Types of JVs ►    Pros and Cons of JVs ►    Role of the Small Business Administration’s (SBA) Mentor-Protégé Program ►    Accounting for JVs ►    How Cherry Bekaert can assist with JV setup, tax structuring, accounting systems and ongoing compliance Whether you're exploring a JV for the first time or looking to refine your current structure, Cherry Bekaert professionals are here to help. Let our team support you in building a tailored JV that’s not only compliant but strategically sound.  View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, host Jonathan Reid, Director, is joined by Mike Cippel, Managing Director, to discuss the job differences between accounting managers, controllers and chief financial officers (CFO).  Tune in to learn more about: The definition of an accounting manager, controller and CFO   Key differences between the three rolls Responsibilities expected in these roles Requirement to hold the positions  What type of work environment to expect  Skills needed to succeed in each role Cherry Bekaert’s team of government contracting consultants has significant experience in outsourced accounting solutions.  Our professionals provide regular updates, thought leadership, current and future state consulting, change management advisory and ready to stand up services. If you have any questions specific to your situation, our government contracting and tax consultants are here to discuss solutions tailored to you. Contact us. View all Government Contracting Podcasts

As of Monday, January 28, President Donald Trump has signed various executive orders requiring the halt of federal funding for various programs. This will allow the administration to determine the program’s alignment with legal and presidential priorities.  These orders impact funding for foreign aid, non-governmental organizations, diversity, equity and inclusion (DEI) programs, gender ideology, Green New Deal initiatives, as well as funding under the Inflation Reduction Act (IRA) and Infrastructure Investment and Jobs Act (IIJA) programs.  Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa, a Senior Manager in the Firm’s Government Contracting practice who spent 13+ years with DCAA, to discuss what this means for government contractors moving forward. Listen to learn more about: What it means when an organization receives a stop work order  How to understand the terms and conditions of the contract or award When to reach out to your contracting officer  The flow down of responsibilities for prime contractors vs. subcontractors when receiving a stop-work order or a termination of contract The importance of documenting all costs and expenses The differences between terminations of fixed price and cost-plus contracts or awards Strategies to control and mitigate costs Steps you can take to help minimize the settlement process timeline  Ways to maximize cost recovery during settlement or negotiations Cherry Bekaert’s team of government contracting professionals has significant experience with the complexities and challenges of navigating these types of executive orders. If you have any questions specific to your situation, our government contracting consultants are available to discuss your situation with you. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, we discuss what to consider when planning the cost of a project. Eric Poppe, a Managing Director in the Government Contracting Industry practice, is joined by Jonathan Reid, a Director in Outsourced Accounting Services. Tune in to learn more about: What to expect when reporting cost Impact revenue recognition on the cost of a project  Tax impacts Financial reporting considerations  Compliance requirements  Setting up a project for joint venture Companies who aren’t in government but work with Government Contractors Cherry Bekaert’s team of government contracting professionals have significant experience in accounting and reporting. As more guidance comes forth, we are here to provide regular updates and thought leadership to guide your journey forward. If you have any questions specific to your situation, Cherry Bekaert is here to discuss solutions tailored for you. Contact us. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, host Jeff Annessa, a Senior Manager in the Firm’s Government Contracting practice, is joined by Jade Casey, a director in the Firm’s Government Contracting Services group. Jeff spent more than 13 years working with the Defense Contract Audit Agency (DCAA) and brings valuable experience to their discussion on forward pricing rates and their benefits. Tune in to learn more about: An overview of forward pricing rates How forward pricing rates differ from provisional billing rates  The forward pricing rates proposal process Difference between a recommendation (FPRR) and an agreement (FPRA) The forward pricing rate proposal adequacy checklist for contractors Benefits of sound forward pricing rates Cherry Bekaert’s team of government contracting professionals have significant experience in forward pricing rates. As more guidance comes forth, we are here to provide regular updates, and thought leadership to guide your journey forward. If you have any questions specific to your situation, Cherry Bekaert is here to discuss solutions tailored for you. Contact us. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, host Brendan Halloran, a Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa, a Senior Manager in the Firm’s Government Contracting practice. Bringing extensive knowledge and experience in the government contracting space, Brendan and Jeff discuss the Truthful Cost or Pricing Data Act, formerly known as the Truth in Negotiations Act or TINA. Brendan was previously a divisional administrative contracting officer (DACO) at the Defense Contract Management Agency (DCMA) and Jeff has spent over 13 years with the Defense Contract Audit Agency (DCAA), while holding several leadership positions. Tune in to find out more about: The background and history of the Truthful Cost or Pricing Act What is considered cost or pricing data  Most common thresholds and exceptions to the act  The certification, sweep and disclosure process Defective pricing and government audits Best practices surrounding the Truthful Cost or Pricing Act  Cherry Bekaert’s team of government contracting consultants have significant experience and can help your growing government contracting business navigate the Truthful Cost or Pricing Data Act. If you have any questions specific to your situation, our consultants are available to discuss your situation with you. Contact us today. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, Romain Robveille, Advisory Services Director, is joined by Justin Pell, Senior Manager,  for an overview of the Deltek Costpoint software and how to get the most out of this system.  Tune in to learn more about: Effective uses of Deltek Costpoint for businesses  Issues with current Costpoint uses and leadership challenges How changes in leadership can affect system and accounting efficiencies  Areas companies need to consider to make the most of Deltek Costpoint Benefits of a system assessment for organizations using Deltek Costpoint  Cherry Bekaert’s team of government contracting professionals have significant experience with Deltek Costpoint. As more guidance comes forth, we are here to provide regular updates and thought leadership to guide your journey forward. If you have any questions specific to your situation, Cherry Bekaert is here to discuss solutions tailored for you. Contact us. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, host and Advisory Services Manager Shaydah Naraghi is joined by Advisory Services Senior Manager Christine DeYuliis to discuss how Unanet could help guide your business forward.  Tune in to learn more about: How Unanet got its name How long it typically takes employees to adopt time and expense functionality in Unanet The recommended company size needed to utilize Unanet How Unanet supports growth in a company How Unanet supports DCAA and FAR compliance The ease of standard and analytics reporting Additional resources available during and after implementation  Cherry Bekaert’s team of government contracting professionals has significant knowledge and experience with Unanet. As more guidance comes forth, we are here to provide regular updates and thought leadership to guide your journey forward. If you have any questions specific to your situation, Cherry Bekaert is here to discuss solutions tailored to you. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, host and Government Contractor Services Director Brendan Halloran leverages his extensive knowledge and experience in the government contracting space. With a background as a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA), Brendon offers valuable insights alongside Advisory Services Director Lynnette Leidwinger. Together, they discuss how subcontractor administration can be beneficial to a company’s success.  Tune in to find out about: The definition ofSubcontracting Flow downs Teaming arrangements Compliance considerations The importance of flow-down clauses How teaming arrangements can be a good tool for contractors Compliance considerations Circumstances in which a contractor’s compliance gets reviewed Key takeaways for hiring a subcontractor  Cherry Bekaert’s team of government contracting consultants have significant experience in subcontracting administration and can help your growing government contracting business navigate the challenges. If you have any questions specific to your situation, our consultants are available to discuss your situation with you. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, Mike Cippel, a Managing Director in the Firm’s Outsourced Accounting Advisory practice, is joined by Irwin Kaplan, Director, to discuss how government contractors can begin to plan for next year. They cover the ideal timeframe for contractors to start preparing, as well as key planning considerations.  Tune in to learn more about vital elements of year-end planning, including: Budgeting Contract Waterfall Cash Forecasting Key Measures: Monthly Tracking and Reporting  Cherry Bekaert’s team of government contracting professionals have significant experience with next-year and year-end planning for government contractors. As more guidance comes forth, we are here to provide regular updates and thought leadership to guide your journey forward. If you have any questions specific to your situation, Cherry Bekaert is here to discuss solutions tailored to you. Contact us. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, we discuss the do’s, don’ts and pitfalls of outsourced accounting. Host Eric Poppe, a Managing Director in the Government Contracting Industry practice, is joined by Jonathan Reid, a Director in Outsourced Accounting Services.    Tune in to learn more about: How outsourced accounting helps government contractors  Differences between bookkeeping and outsourced accounting  Situations in which government contractors need accounting help  How to make a smooth transition into outsourcing accounting needs Tips for forming a positive relationship with an outsourcing firm Pitfalls a company should avoid before getting into an outsourcing relationship Questions you should ask during the interview process Cherry Bekaert’s team of government contracting professionals have significant experience in outsourced accounting. As more guidance comes forth, we are here to provide regular updates and thought leadership to guide your journey forward. If you have any questions specific to your situation, Cherry Bekaert is here to discuss solutions tailored for you. Contact us. Related Guidance  Podcast: How to Get the Most Out of Your Outsourcing Firm Article: Outsourced Accounting Frequently Asked Questions (FAQs) View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, we discuss how to choose the right Enterprise Resource Planning (ERP) system that fits your company’s unique needs. Host Eric Poppe, a Managing Director in the Government Contracting Industry practice, is joined by Christine DeYuliis, a Senior Manager.   Tune in to learn more about steps your business can take to find the right ERP, including: Conducting an initial discussion with stakeholders Defining and documenting current business processes, strengths and pain points Determining required features and functions  Identifying needed software integrations  Integrating accounting and reporting considerations  Considering compliance requirements Cherry Bekaert’s team of government contracting professionals have significant experience in ERP solutions. As more guidance comes forth, we are here to provide regular updates and thought leadership to guide your journey forward. If you have any questions specific to your situation, Cherry Bekaert is here to discuss solutions tailored for you. Contact us. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s Government Contracting podcast, we discuss ways to optimize the benefits of outsourcing your accounting operations. Host Craig Hunter, a Director in the Government Contracting Industry practice, is joined by Mike Cippel, Managing Director, and Directors Irwin Kaplin and Jonathan Reid. Tune in to learn more about: Deciding if outsourced accounting is your best option  Uncovering the benefits of using an outsourcing firm Optimizing the working relationship with an outsourcing firm Cherry Bekaert’s team of government contracting consultants have significant experience in outsourced accounting solutions. As more guidance comes forth, we are here to provide regular updates, thought leadership, current and future state consulting, change management advisory and ready to stand up services. If you have any questions specific to your situation, our government contracting and tax consultants are here to discuss solutions tailored for you. Contact us. View all Government Contracting Podcasts

In the fourth episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran, a Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa, a Senior Manager in the Firm’s Government Contracting practice. Bringing extensive knowledge and experience in the government contracting space, Brendan and Jeff discuss cost impacts, as well as the differences between General Dollar Magnitude (GDM) and Detailed Cost Impacts (DCI). Brendan was previously a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA) and Jeff has spent over 13 years with the Defense Contract Audit Agency (DCAA), while also holding positions such as quality manager, supervisory auditor and field audit office manager. Tune in to find out more about: What cost impacts are  When cost impact proposals are necessary Different types of cost impact proposals A detailed overview of GDM and DCI Cost Impact Materiality  How to position the cost impact Cherry Bekaert’s team of government contracting consultants have significant CAS experience and can help your growing government contracting business navigate CAS. If you have any questions specific to your situation, our consultants are available to discuss your situation with you. Contact us today. If you haven’t already, catch up on other parts of the series : Cost Accounting Systems Series: Part 1 – A Comprehensive Overview Cost Accounting Systems Series: Part 2 – Considerations for Growing a GovCon Cost Accounting Systems Series: Part 3 – Implications When Acquiring Companies Related Guidance Webinar Recording: Cost Accounting Standards (CAS): Part 1 – CAS Coverage Types, Common Standards, and CAS Applicability Webinar Recording: Cost Accounting Standards (CAS): Part 2 – Cost Accounting Changes and Impact View all Government Contracting Podcasts

In the second episode of Cherry Bekaert’s Operational Effectiveness podcast series, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Todd Angioli, a Director in the Firm’s Government Contracting practice with 20+ years of financial operations experience. Together, Eric and Todd discuss mid-year considerations when budgeting and forecasting. Listen to this episode to find out more about: What government contractors should consider at the mid-year point when forecasting for the remainder of the calendar year High-level considerations when reforecasting the operating plan:Revenue Direct Labor Fringe Overhead General and Administrative Expenses (G&A) Bottom Line  Key forecasting and planning areas:Recompete andNew Business Current Execution Improvement Initiatives Need Assessment for Mid-Year Burden Recalculation The Need to Move Investments Other Course Corrections What growing government contractors should be doing at the mid-year point Cherry Bekaert’s team of government contracting consultants have significant operations and contracting experience to help you navigate any operational considerations. If you have any questions specific to your situation, our government contracting consultants are available to discuss your situation with you.  If you haven’t already, catch up on part one of the budgeting considerations series:  Effective Operational & Financial Performance:  Budget Considerations During Year-End View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s GovCon Podcast host Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Vivian Kohrs, Director, Strategic Tax, and Bryan Weems, Senior Manager, Tax Credits and Incentives. Together they give an overview of research and development (R&D) credits for government contractors.  Listen to learn about: What R&D credits are Who is able to take advantage of these credits Contract R&D CreditsRights and risks How subcontractors could potentially qualify  R&D credits by state: Virginia  Georgia Texas Maryland Florida Section 174 impact to tax liability and cashflow Recommendations on how to collect R&D Credits and prepare for the potential impact of Section 174 capitalization Cherry Bekaert’s team of government contracting and tax credit and incentives consultants have significant experience in R&D credits and Section 174 analysis. If you have any questions specific to your situation, our government contracting and tax consultants are available to discuss your situation with you. Contact us. View all Government Contracting Podcasts

In this episode of Cherry Bekaert’s GovCon Podcast, Brynn McNeil and Craig Hunter both Assurance Partners in Cherry Bekaert’s Government Contracting Industry practice, discuss  revenue recognition for government contractors. Listen to learn more about: The five steps for recognizing revenue under Accounting Standards Codification (ASC) 606 Understanding how costs drive revenue  Common errors in recording revenue  Best practices for government contractors regarding processes and controls for recording revenue  Cherry Bekaert’s team of government contracting consultants have significant experience in navigating the SBA 8(a) business development program and can assist your business with the best accounting practices. If you have any questions specific to your situation, our government contracting consultants are available to discuss your situation with you. Contact us. View all Government Contracting Podcasts

In the third episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran, a Director with Cherry Bekaert Advisory, is joined by Jeffery Annessa, a Senior Manager in Cherry Bekaert’s Government Contractor Industry practice, to discuss CAS implications during mergers and acquisitions.  Cherry Bekaert’s government contracting consulting team has years of CAS experience and can help you navigate CAS compliance issues or disclosure statement development. This episode highlights key topics to help guide your business forward, including: Scenarios and implications to CAS when:A CAS-covered company acquires a company that is non-CAS covered A non-CAS covered company acquires a company with CAS coverage The two most common approaches on how to treat the company you are acquiring, specifically:A legal entity dissolved and integrated fully A legal entity being maintained as a wholly owned subsidiary Understanding CAS structure as it relates to the company Steps to consider when merging with or acquiring a company Common areas that do not constitute a cost accounting practice change Impacts and considerations when the acquired company is CAS covered Areas a CAS-covered company should focus their attention on when acquiring, including:Transitional accounting period Indirect rate structure Similarity of labor Allocations Restructuring cost Pitfalls to avoid Areas a non-CAS covered company should focus their attention on when acquiring, such as:Analysis of the CAS-covered contracts to understand period of performance, numbers and money magnitude Additional exposure Compliance requirements If you haven’t already, catch up on part one and two of the series: Cost Accounting Systems Series: Part 1 – An Overview Cost Accounting Systems Series: Part 2 – Growing a GovCon  Related Guidance Webinar Recording: Cost Accounting Standards (CAS): Part 1 – CAS Coverage Types, Common Standards, and CAS Applicability Webinar Recording: Cost Accounting Standards (CAS): Part 2 – Cost Accounting Changes and Impact View all Government Contracting Podcasts View all Government Contracting Podcasts

On December 26, 2023, the proposed rule for the Department of Defense (DoD) Cybersecurity Maturity Model Certification (CMMC) Program was published in the Federal Register.  Listen to Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contractor Industry practice and Brian Kirk, Senior Manager in the Firm’s Information Assurance & Cybersecurity practice, as they share insights into the proposed rule, including the surprises that came out and DoD’s timing for implementation. Refresher on CMMC Level 1 Self-Assessment, CMMC Level 2 Self-Assessment + CMMC Third-Party Assessment Organization (C3PAO) Assessment, and CMMC Level 3 Government-Led Assessment Equivalency: Cloud Service Provider (CSP) and External Service Provider (ESP) Phased Implementation (DoD rollout in solicitations) Final Certification vs. Conditional Certification CMMC Level 3 requires a CMMC Level 2 Final Certification Defense Industrial Base Cybersecurity Assessment Center (DIBCAC) High conversion to CMMC Level 2 Final Certification for perfect scores Cost Considerations How do I prepare for CMMC certification? If you have any questions regarding CMMC, Cherry Bekaert’s Information Assurance & Cybersecurity and Government Contracting advisors are available to discuss your situation with you.  Cherry Bekaert is an authorized CMMC Third-Party Assessment Organization (C3PAO) by the Cybersecurity Maturity Model Certification (CMMC) Accreditation Body, Inc. (The Cyber AB). We assist Organization’s Seeking Certification (OSCs) with CMMC readiness assessments for Levels 1, 2 and 3. Additionally, as an authorized C3PAO, Cherry Bekaert partners with the Defense Contractor Management Agency (DCMA) Defense Industrial Base Cybersecurity Assessment Center (DIBCAC) under their Joint Surveillance audit program to perform DIBCAC High (NIST 800-171) Assessments which are convertible to CMMC Level 2 Certification, if a perfect score is obtained.  View all Government Contracting Podcasts