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Government Contracts Provide Stability to Growth Bound Contractors
With the federal government spending billions of dollars on goods and services annually, and a designated 23% targeted to small businesses, growth is looking promising among contractors, particularly smaller firms.
Glen Burnie, MD (June 22, 2010) – Government contracting is reliable and even small contracts have the potential to provide significant returns for a small enterprise. The amount of federal contract dollars reaching small businesses owned by women, minorities, and veterans has increased to record levels as of late; and with unemployment rising, and business and consumer spending decreasing, the government sector seems to be the only one equipped for growth.
In order to be compliant with DCAA guidelines and to be able to pass a potential audit, a company must follow documented policies and procedures completely. VBP OutSourcing, a Maryland based accounting and bookkeeping firm, specializes in helping companies meet DCAA regulations with minimal disruption to their operations. For over 13 years, VBP OutSourcing has been helping DoD contractors in becoming compliant, by providing knowledge, expertise and resources experienced in DoD accounting practices.
According to President and CEO Veronica Eyenga, “Seeking DCAA compliance can be a stressful and complicated process for any company new to government contracting. Trusting seasoned professionals with experience in DCAA accounting ensures not only guaranteed compliance, but also one less burden for the company.”
VBP OutSourcing helps companies determine if their accounting environments meet compliance by offering mock DCAA audits and reviews, in addition to assisting them in documenting their accounting systems with comprehensive systems documentation. If a company has a need for ICE proposal submission or a need to calculate their Indirect Rates, VBP OutSourcing is a complete solution for meeting such needs. Not only will compliance and sufficiently maintained accounting records ensure the preservation of one’s government contract, but it also brings a level of confidence in future bids and executive insight.
VBP OutSourcing is a leading DCAA accounting & bookkeeping firm specializing in helping DoD Contractors pass their DCAA accounting requirements. Our services include complete labor cost tracking and overview of timekeeping system and management; Comprehensive job cost reporting satisfying management and government reporting requirements; Indirect Cost Rate calculations and allocations, with support for multiple cost centers; Project billings for all government contract; Chart of accounts structured to meet the Federal Acquisition Regulations; Reconstruct records & financial information. For more information on VBP OutSourcing’s DCAA accounting solutions, visit www.vbpoutsourcing.com/gaap-dcaa.html
