InfusionPoints' Accounting System passes DCAA Compliance

InfusionPoints DCAA Compliance

InfusionPoints LLC accounting system passes DCAA audit and was found to be in compliance with the standards and guidelines set forth in FAR 16.301-3 for cost-reimbursement type contracts, that the accounting system has been audited and is adequate for determining costs applicable to cost-reimbursement type contracts, and meets the requirements of SF1408.

InfusionPoints' accounting system was audited for compliance with DCAA requirements and to determine whether the accounting system is capable of accumulating contract costs consistent with the cost principles set forth in the Federal Acquisition Regulation Part 31.2, as required by FAR 16.301-3(a)(1).

The findings included:

  1. The accounting system is maintained in accordance with Generally Accepted Accounting Principles.
  2. There is a proper segregation of direct costs from indirect costs.
  3. Direct costs are identified and accumulated by contract.
  4. There is a logical and consistent method for the allocation of indirect costs to intermediate and final cost objectives.
  5. Costs are accumulated under general ledger control.
  6. There is a timekeeping system that identifies employees' labor by intermediate or final cost objectives.
  7. There is a labor distribution system that charges direct and indirect labor to the appropriate cost objectives.
  8. Management determines, on a monthly basis, costs charged to contracts through routine posting of books of account.
  9. Exclusion from costs charged to government contracts of amounts which are not allowable in terms of FAR 31, Contract Cost Principles and Procedures, or other contract provisions.
  10. Identification of costs by contract line item and by units (as if each unit or line item were a separate contract) if required by the proposed contract.
  11. The accounting system meets requirements by contract clauses concerning limitation of cost (FAR 52.232-20 and 21) or limitation on payments (FAR 52.216-16).
  12. The accounting system is designed, and the records maintained in such a manner that adequate, reliable data are developed for use in pricing follow-on acquisitions.
  13. The accounting system is in full operation.

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