Fortune 500 Communications Equipment and Systems Manufacturer Case Study
For over 25 years, Victura Consulting professionals have consulted with a publicly traded Fortune 500 manufacturer of state of the art communications equipment and systems for both the public and private sector. Over the years our assistance to the client has ranged from various General Services Administration (GSA) Federal Supply Schedule (FSS) contract compliance matters to assisting and preparing various segments of the client’s organization for full Cost Accounting Standards (CAS) coverage.
Most recently, Victura professionals assisted one of the Client’s segments to become prepared for full CAS coverage. Although the segment for many years had routinely performed cost reimbursable contracts for the Federal Government, it only recovered a portion of its eligible costs due to lack of the proper accounting systems, policies and procedures to fully recover total eligible costs in accordance with the FAR and CAS requirements. We assisted the Client to address the necessary enhancements to the accounting systems, policies and procedures to meet the full CAS coverage requirements in anticipation of a major contract opportunity that mandated full CAS coverage.
Our professionals assisted Client Management in reviewing and identifying the Corporate Home Office functions and departments that benefit the CAS covered segment and helped design and implement the applicable CAS compliant cost allocation methodologies. In addition, we assisted the Client with enhancing and improving the applicable cost accounting practices of the soon to be CAS covered segment.
Since the completion of this latest project, the client was awarded a multi-year cost reimbursable contract and with the newly established full-CAS covered cost structure, this will result in additional cost recoveries of millions of dollars over the course of the contract. Victura continues to support the client with maintaining the CAS compliance structure for the CAS Segment as well as providing assistance to Company personnel with the preparation of their annual incurred cost submissions.