FAQ - Clarity Backed by Expertise

What core services does uld-cg  offer?

With an MBA in accounting and years of insider experience as a Senior Auditor at DCAA, ULD now helps government contractors protect their bottom line and achieve total audit readiness. ULD provides consulting sessions to federal prime contractors, subcontractors, Accountants and accounting firms. Three session levels are available for whatever the needs of your teams are: Basic, Intermediate or Advanced. Pricing information is available. Booking a session is very simple on www.uld-cg.com.

Which FAR Cost Principles should I review to avoid questioned costs on a government contract?

Based on the costs being claimed, apply the core triad of cost allowability:

  1. Allowability under FAR 31.201-2

  2. Reasonableness under FAR 31.201-3

  3. Allocability under FAR 31.201-4

FAR 31.205 Cost Principles and other factors are discussed in ULD ADVANCED SESSION.

Most common questioned costs?

From my Senior Auditor experience at DCAA, top 3 common questioned costs from my audits were:

  1. Basis for Bonus issuance (FAR 31.205-6(f)

  2. Basis For Subcontract Selection (FAR 52.244-5)

  3. Allowability of Related Party Transactions and Rental costs (FAR 31.205-36)

My general ledger Chart of Accounts contain a Travel account, 6304. We received an Engagement Letter from DCAA for an Incurred Cost Audit. What should we do to ensure this travel account is ready for an audit?

Ensure every travel expense report complies with FAR 31.205-46 and contract terms. Upon contract award, accounting and contracting should meet to document a Contract Brief. This documented brief ensures all departments understand contract terms for line items such as travel. FAR 31.205-46 cites the GSA website for per diem rates. For further discussion on audit readiness for travel, book the ULD BASIC SESSION.

I am a  Junior Accountant working at a local major accounting firm. I work with three CPAs and we would like to expand our services to government contractors but we have  no Government Contracting experience and no experience with Federal Acquisition Regulation (FAR). Where do we start?

Great question, I hear this a lot. You came to the right place, here at ULD-CG. As you already know, our accounting degrees focused mainly on the authoritative sources in the GAAP hierarchy: FASB, AICPA, GASB and SEC. On the other side, FAR is an experience acquired mainly while working directly with government contracting. A good introduction is definitely the ULD BASIC SESSION. This will provide you with an amazing start and numerous resources. 

          Why should I choose uld-cg?

ULD Cares. I care about the success of my clients because that is the ultimate reflection of my work. As a Senior Auditor, I noticed the government contractors who wanted to be in compliance but did not know how to maneuver through the over 2,000 pages of FAR. That is the motivation behind the launching of ULD-CG. Equipping the men and women who support our troops, equipping them with the knowledge needed for audit readiness / bottom line protection - that is the reason for our existence.