Strong career of specialized cost accounting, financial management, and contract administration experience preventing losses of millions of dollars due to perceived deficiencies and non compliances. Maximizing cost recovery, profits and contract wins through strategic cost estimating, negotiating and liaison with DCAA.
Audit Subcontractors Cost Accounting Systems
Provide leadership of FAR & CAS Train Government accounting
Develop Policies & Procedures Maximize direct/indirect rates
Defend & Support DCAA audits Prevent TINA violations
PeopleSoft, Oracle, Great Plains, FASB, CASB, CAS, ABC,
FAR 31.205, TINA, FAR, DEAR (DOE), NASA-PR, OMB A-87, A-133.
Saved over $1M by defending $750K claimed by the U.S. Navy as overcharges
Defended against the U.S. Navy’s allegation that the company failed to comply with Cost Accounting Standard (CAS 416) and then questioned efforts of the consultants hired to assist in the defense.
Accomplishments:
..Concluded that the standard did not apply at that point in time.
..Successfully defended the claim saving $750K by proving the auditors were
mistaken.
..Demonstrated that costly consultants (over $250K) were not necessary.
Challenged DCAA requirement for cost impact study of Cost Accounting non-compliance DCAA opined the company had violated Cost Accounting Standard (CAS 401) that had gone unnoticed for approximately twenty years and if proven could have cost the company hundreds of thousands and possibly millions of dollars in pay back.
Accomplishments:
..Although DCAA’s challenge was correct, I developed solution that was accepted.
..Proved expensive twenty-year cost impact study was not necessary.
..Prevented potential pay-back of perceived overcharges of labor & associated costs.
..Rectified accounting system to prevent future allegations of FAR & CAS violations.
Increased cost recovery for all future contracts and for work-in-progress
Discovered that the company was about to lose several million dollars on current WIP and all proposals due to under costing and under estimating their forward pricing rates for Government work.
Accomplishments:
..Increased fringe benefit rate by 10%, added G&A and profit on RFPs of $225 million.
..Directed and trained accounting staff to bill the shortfall on cost-plus work. ..Trained pricing team in the development of profitable bids and how to comply with regulations.
..Prevented violation of the Truth-In-Negotiations Act (TINA)
..Advised operations personnel of legal requirements to provide the most current, accurate and complete information before signing on certain types of contracts.
..Reviewed current cost proposal and discovered potential phantom payroll issue.
..Prevented Federal investigations, fines, penalties and prison time.
..Prevented the development of wasteful timekeeping policies and procedures for entire company.
..Prevented re-programming of job cost module to accommodate uncompensated overtime that was uncecessary and saved expensive consulting fees. |
