Government Contractors -

Implementation of FAR and CAS Compliant Accounting Systems

Accounting systems used by all business must provide accurate, timely information to management to allow for efficient and effective decision-making regarding the operations of the company. Accounting systems used by government contractors, however, must also comply with the requirements of the Federal Acquisition Regulation (FAR) for US Government prime contracts and subcontracts and in some instances may need to comply with the Cost Accounting Standards (CAS). Snyder Cohn can assist you in reviewing, designing, and implementing accounting systems that meet the business's needs as well as comply with the requirements of the FAR and CAS. An appropriate accounting system for government contractors will provide for the accumulation of direct and indirect costs as well as allow for the allocation of indirect costs. The system will also be designed to provide meaningful financial reports for the management of individual contracts and the company as a whole. Our goal is to ensure that the accounting system meets the requirements of FAR and CAS as well as the internal needs of company management.