The Meet the Experts Roundtable is being presented as part of the National 8(a) Association 2023 National Small Business Conference.
Key Takeaways from SBA’s Financial Reporting Requirements and Having a DCAA-Compliant Accounting System for Government Contracting
- Review the SBA rules for financial reporting, i.e. compilations, reviews and audits per 13 CFR 124.602.
- SBA definition of gross receipts per 13 CFR 121.104 for financial reporting purposes.
- What to expect from a public accounting firm that performs compilations, reviews, or audits.
- Accounting system requirements from a checklist that is prescribed in an SF Form 1408, “Pre-Award Survey of Prospective Contractor (Accounting System), in order to fulfill mandatory requirements for your accounting system when you perform on a government contract.
- What to expect when you win your first Cost Plus Fixed Fee contract with the US Government, and the resulting review based on the SF 1408 which is performed by your cognizant agency or the Defense Contract Audit Agency (DCAA).
The National 8(a) Association National Small Business Conference is the premier supplier diversity event for small businesses. The Conference offers educational sessions, matchmaking, networking and resources for all small businesses including: minority, aspiring, current and graduate 8(a), HUBZone, SDVOB, VOSB, SDB, WOSB, DBE, and teaming partnerships. The event attracts hundreds of federal agencies, large business primes, and corporate companies to provide multiple opportunities in one location to grow your business in the federal contracting arena.