Government Contracts

Government grants and contracts are subject to a complete set of rules known
as the Federal Acquisition Regulations (FARs), which most CPAs are unaware of.

Whether you are for-profit or non-profit entity doing business with the
government, you know how important compliance can be.

Sharon M. McGhee CPA Consultants has decades working with government grants and contracts. We specialize in working with small business innovators who receive cost-reimbursable Federal awards, fixed price phase II, including USDA NIFA/SBIR contracts and subcontracts.

Our firm is dedicated to this highly specialized area of accounting, making us both experienced and adept at working with agencies like:

  • USDA – US Department of Agriculture

  • DOD – Department of Defense

  • DHHS – Department of Health & Human Services

Whether your awards are funded by the USDA, DOD or DHHS, rest assured, Sharon M. McGhee CPA Consultants PA can help.  We currently work with clients in these areas to fill the gaps between traditional and government mandated accounting rules to assist with setting up accounting systems that are compliant with FARs or OMB Circulars in the most cost-efficient way.

We work with you in the proposal phase to develop the most appropriate indirect rates, help you set up and maintain an “acceptable accounting system”, assist with setting up DCAA compliant Policy and Procedures, and work with you to manage project profitability and preserve cash flow – allowing you to focus on building your business.

Services include monthly bookkeeping or team training:

  • Accounting, reporting and monitoring budgets for multiple grants and contracts even with differing funding periods

  • Cost allocation and indirect/fringe rate calculation for common costs/overhead, general administrative, fringe benefits and leave.

  • Code expenses to properly segregate costs as direct, indirect or unallowable

  • Distribute labor costs in your general ledger

  • Make deposits

  • Pay bills