TMG Joins Deltek at DLZ Live April 5

Are you a Government Contractor looking to deepen your knowledge in Costpoint, Acumen, or Maximizing...

How Does Your Company Create Staffing Models for Pricing Proposals?

Creating staffing, the blend of labor categories, levels, and hours required to perform on a Governm...

Buying Time in the Pricing Proposal Process

We received an inquiry recently from a company that was in dire need of pricing advice. The situatio...

We’re Celebrating Another Win for One of TMG’s Clients!

Congratulations to the joint venture partners and teammates of Mitchell Vantage Systems, LLC for win...

TMG Releases New Podcast 7 on Forensic Pricing

The new episode covers the fascinating topic of Forensic Pricing, and Marc uses the analogy of baseb...

Introducing TMG Academy Online, brought to you by The McKelvey Group!

TMG's new product meets market need for online, on-demand training in Finance, Accounting, Governmen...

How a New Federal Holiday Can Impact Your Business as a Government Contractor

Last Thursday Juneteenth was signed into law as the first new Federal holiday since 1983.

Will we see you at the GCP Summit?

The McKelvey Group is delighted to be presenters in the 2021 Virtual Government Contract Pricing Sum...

CIO-SP4 Bidding has Officially Begun!

Want a Head Start? Attention CIO-SP4 Contract Bidders

Need quick training on Incurred Cost Submissions?

The McKelvey Group is hosting a LIVE WEBINAR covering all the basics on May 18!

5 Benefits and 3 Considerations to Outsourcing Your Government Contractor Accounting

Accounting.  That word can evoke strong reactions from small business owners and managers, especiall...

Why a Proactive Year-End Approach is Essential in the Government Arena

Every year I speak with CPAs who bemoan the chaos and rush to file taxes for many of their governmen...

Negotiated Indirect Cost Rate Agreement (NICRA): A Quick Guide

Companies, contractors, and organizations (hereafter referred to as “company” or “companies”) doing...

TMG Expands its Pricing Support Services with Original New Product for CIO-SP4 Bidders

Innovative analysis tool saves time in CIO-SP4 proposal process

January Courses Are Here!

The McKelvey Group is holding 2 levels of training courses on Developing Cost/Price Proposals on Jan...

TMG’s Expertise and Scalability Provide Solution for Evolving Companies

TMG’s Expertise and Scalability Provide Optimal Solution for Evolving Companies

We Have a New Website!

TMG's Refreshed Online Presence Brings an Energetic Theme and Attention to Valued Training Services

TMG Provides Three New Clients with Scalable Accounting Solutions

Gaithersburg, MD – The McKelvey Group, Inc. (TMG) is proud to announce the addition of three new cli...

TMG Strengthens Pricing Capabilities by Expanding Senior Staff

Added Team Members and New VP of Pricing Provides Clients with Greater Access to Senior-Level Consul...

TMG’s Government Pricing Expertise Plays Role in VetFed’s Exponential Growth

TMG's Pricing Proposal and Accounting Support Results in Over 260% Total Revenue Growth Over 7 Years

The McKelvey Group’s Valuation Practice Sees a Rise In Demand

Increased Interest for Succession Planning Brings Opportunities for Business Valuations

TMG’s Accounting Practice Encourages Proactive Planning for Year-End

Preparing for Year-End Will Help Realize Bottom-Line Benefits

Managing Subcontractor Sealed Package Submissions

Prime Contract bidders often submit Cost/Price volumes supported by Subcontractor sealed package submissions that the Prime has not been able to verify for completeness, correctness, or compliance. Subcontractors often and justifiably do not want to reveal proprietary or confidential financial information to their Prime Contractor. While teammates today, they may well be competition tomorrow.


Deficient Subcontractor submissions can and do cause companies to lose bids they may otherwise have won. However, there are mechanisms Prime Contractors can employ to reduce the risk of deficient subcontractor submissions. This session will explore the continuum of what Prime Contractors can do, from the doing nothing to ensure compliance other than issuing directives, to providing guidance/limitations, to bringing in an outside source that can perform verification of complete, correct, compliant packages.


This webinar focuses heavily on the proactive aspects of what Prime contractors can do to help guide and ensure their Subcontractors develop sealed packages submissions that bolster the Prime Contractor's win probability instead of detracting from it. We discuss techniques such as providing pricing model and narrative templates for Subcontractors to use, the use of target and not-to-exceed rates for limiting Subcontractor pricing to within Prime Contractor expectations or needs, and how to have Subcontractors prepare and submit sanitized pricing in a timely manner to support the Prime cost volume.


The discussion explores how the Prime Contractor’s proposal schedule impacts Subcontractors, where and when to include the Subcontractors in proposal meetings and discussions. We look at situations when bringing in an outside consultant, with whom all parties execute an NDA, can help Prime Contractors ensure their Subcontractors do not let them down.


The webinar also explores how Prime Contractors can support their Subcontractors by giving good instruction, by having open lines of communication, by developing and maintaining schedules for requesting and receiving Subcontractor pricing, by providing clear and concise data calls and solicitations, and by finding expertise to help and support their Subcontractors when necessary, especially companies new to Government contracting. It is not uncommon for Subcontractors that want to do their best to support their Prime Contractors to fail because they just don't know how to "do it right" and they don't get much in the way of support from their Prime Contractors.


This webinar benefits all Government contractors, whether large or small business or somewhere in between.

Incurred Cost Submissions

    An Incurred Cost Submission is REQUIRED for ALL Federal Government Contractors with at least one of the following:

  • Cost Plus (CP) Contract/Task,
  • Time and Material (T&M) Contract/Task, or
  • Flexibly Priced (FP) Contract/Task (This is a Fixed Price Contract/Task with reimbursable CLINs)

It does not matter if your company is a prime contractor or a subcontractor, nor does it matter how small the Contracts/Tasks are. This is an annual requirement that should be part of your annual Accounting Close process.


Most contractors find out about Incurred Cost Submissions when their Cognizant Auditor (CA) contacts them asking for status. The CA may ask for information about submissions from five or more years ago. Thus begins a scramble for the contractor to go back in history and handle multiple submissions in a short time frame, which can be a recipe for failure. This intermediate webinar is designed for accounting and contracts personnel who will prepare and submit the Incurred Cost Submission, as well as small business owners and managers who are trying to decide if, and when they should submit.


In this webinar we walk-through each component of the submission including a list of required information, explanation of what the auditors are looking for, and an appreciation for how to ensure a fully-compliant submission.

Successful Management of the Cost Volume and Schedule

Within the confines of the overall proposal schedule, Cost and Price count for one third of the proposal. Regardless of Best Value evaluation criteria, price is always important. Understanding the relationships between the cost and technical volumes while understanding how and why the volume specific schedules need to vary and how they should overlap is paramount in ensuring success in delivering a complete, compliant, and competitive proposal.


From the initial opportunity identification to delivery of a subsequent proposal, Pricing should be integrated closely with the proposal team. In a high-pressure proposal environment with multiple stakeholders on the proposal team, and information inputs changing frequently, sometimes several times a day, management of the schedule becomes essential. We will cover how to integrate with the technical reviews, set and hold reviews, and build in enough time to ensure thoroughness of review and quality control of pricing.


Over time, companies often see teams comprised of the same people who take advantage of the familiarity that is gained from working together over many proposals. But that may be a luxury for many companies. From Capture Managers to Technical Writers and Pricing to Production, many functional roles are dependent on each other to each contribute fully. Ensuring communication to all stakeholders of completed tasks, outstanding inputs needed, and upcoming milestones (e.g., gate reviews) is vital to proposal success. We will cover how to integrate early with the team and ensure a constant and consistent flow of information to prevent information bottlenecks, control schedule, and ensure a winning bid.


Pricing has a vital role and should be integrated early on when the team starts to form, even from IDing and shaping the pursuit, to providing pricing strategy during the proposal, and presenting management with pricing options and analysis. Scheduling pricing color team reviews or gate reviews and being prepared for them are essential to ensuring quality control and for strategic pricing to have a foundation to flourish. Driving internal deliverables and scheduling for Cost / Price will be covered.


This webinar will cover how to successfully integrate with the technical team, open effective and consistent communication with stakeholders, drive pricing milestone scheduling during the proposal, and build in compliance from the outset to increase the frequency of winning proposals.

Monthly Cadence: Your Key to a Seamless Fiscal Year End

Do you need a refresher on how to prepare your nonprofit / association for year-end? It may surprise you to know that the key to a seamless accounting year-end close is monthly cadence. But what are all the pieces required to organize your accounting?
The McKelvey Group partnered with US Transactions Corp (UST) for this webinar to review our methodology for closing the fiscal year specifically for nonprofits. This free webinar covers items in our Year-End Close Checklist and share our best practices for ensuring a smooth tax filing for your nonprofit / association.

    Viewers will:

  • Learn all the items necessary to successfully close the fiscal year
  • Gain helpful suggestions on how to prepare a budget for the following year
  • Know what to provide the tax preparer for the 990 tax filing
  • Understand the importance of contribution receipts and system backups

Tax Return Ready Financials

The proper preparation of a financial statement is key for a timely and compliant federal and state tax reporting of a business. In this webinar designed for small to mid-size businesses, participants will learn how to apply accounting concepts and maintenance actions to produce financial statements in preparation for tax filings. Participants will learn best accounting practices to maintain and adjust the most common Profit & Loss and Balance Sheet statement accounts for small to mid-size businesses, as well as the annual tax forms to submit for employees and subcontractors. Participants will test their knowledge with interactive dialogues and assessments and receive immediate feedback.

Accounting Basics and Best Practices for Nonprofits & Associations

This one is for the Nonprofits and Associations! Are your books set up to be effective, efficient, and compliant? The McKelvey Group partnered with US Transactions Corp (UST) for a webinar to provide you with industry best practices for optimizing your accounting system. This webinar covers the chart of accounts, customer structure, documented policies and procedures, the financial calendar, and other ways you can get the most out of your accounting.

    Viewers will:

  • Learn how to structure the accounting system
  • Understand the benefits of documented policies and procedures
  • Gain tools to help you execute accounting tasks effectively, completely, and on time

The Benefits of a DCAA Compliant Accounting System

Join The McKelvey Group (TMG) in this free Webinar to learn the importance of establishing a DCAA compliant accounting system and the best practices that will increase your chances of passing a pre-award audit.  

    In this Webinar we'll answer questions including:

  • Are small businesses exempt from compliance?
  • How far back in the past will a business need to make accounting adjustments?
  • How can you tell if your accounting is correct?
  • What does "job costing" mean?
  • How much time do you have to prepare for an audit?
  • What items are considered "unallowable?"
  • When is QuickBooks no longer viable for a small contractor?...and more!
 

We will also introduce GovAcct©, TMG's packaged compliant accounting solution that delivers full compliance within 30 days of implementation. With more than 100 combined years of Federal government contracting experience and a proven client track record of 100% DCAA compliance, TMG’s GovAcct© may be the right answer for you.

 

Visit The McKelvey Group at www.themckelveygroup.com for more great resources and to learn about our service offerings.

The Importance of an RFP Review in Contracting

The McKelvey Group’s VP of Pricing, Avantika Singh, presents “The Importance of RFP Reviews,” where she demystifies the complexities of RFPs and how to submit compliant and convincing price proposals to the U.S. Government. This is a free webinar.

Increase Your Win Probability Via Your Program Management Office

All contractors face similar issues running and managing their Program Management Office (PMO), but few contractors propose tools and systems as a part of their PMO strategy because they believe these add unnecessary costs. In conjunction with Federal Publications Seminars, this webinar discusses how this type of logic is decreasing your win probability. Learn how the right tools and taking the time to establish systems can reduce the overall cost of running your PMO and increase your chance of winning that next reward. This webinar was produced with our partner, Federal Publication Seminars and requires payment prior to viewing.

Cost Accounting Standards – CAS 416 and 417 – 2019

In conjunction with Federal Publications Seminars, this webinar will cover CAS 416 and 417 which includes the subjects of: accounting for insurance costs (416), and cost of money as an element of the cost of capital assets under construction (417). Learning objectives include:

  • Government requirements around insurance costs
  • How Facilities Capital Cost of Money (FCCM) is applied for capital assets under construction
  • How to calculate project losses and administrative expenses
  • How to allocate the cost of insurance to the appropriate accounting periods
  • How to calculate FCCM for both tangible and intangible capital being constructed, fabricated, or developed for a contractor's own use
 

This webinar was produced with our partner, Federal Publication Seminars and requires payment prior to viewing.

Cost Accounting Standards – CAS 414 and 415 – 2019

Cost Accounting Standards - CAS 414 and 415 – 2019 In conjunction with Federal Publications Seminars, this webinar will cover CAS 414 and 415 which includes the following: cost of money as an element of the cost of facilities capital (414), and accounting for the cost of deferred compensation (415). Learning objectives include:

  • Understanding Facilities Capital Cost of Money (FCCM) and how it is utilized
  • Government requirements around deferred compensation
  • How to calculate and apply FCCM
  • How to calculate the cost of deferred compensation and assign it to the appropriate cost accounting periods
 

This webinar was produced with our partner, Federal Publication Seminars and requires payment prior to viewing.

Cost Accounting Standards – CAS 412 and 413 – 2019

In conjunction with Federal Publications Seminars, this webinar will cover CAS 412 and 413 which includes: composition and measurement of pension cost (412); and adjustment and allocation of pension cost (413). Learning objectives include:

  • Understanding the composition and measurement of pension costs, and the adjustment and allocation of pension costs
  • How to address the four components of defined-benefit plan costs: normal cost, part of any unfunded actuarial liability, interest equivalent on unamortized portion of liability, and adjustment for actuarial loss or gains
  • How the cost of the net contribution is calculated for defined-contribution plans
  • How to calculate actuarial gains and losses
  • How to assign the cost accounting period(s) for which the valuation is made
 

This webinar was produced with our partner, Federal Publication Seminars and requires payment prior to viewing.

Cost Accounting Standards – CAS 406, 407 and 408 – 2019

In conjunction with Federal Publications Seminars, this webinar will cover CAS 406, 407 and 408 which includes: cost accounting period (406); use of standard costs for direct material and direct labor (407); and accounting for costs of compensated personal absence (408). Learning objectives include:

  • The importance of the consistent use of your company's fiscal year as the accounting period
  • The CAS definition of standard costing
  • The intent and expectation of the government for personal absences
  • How to use standard costs in the estimating, accumulating, and reporting of direct labor and materials costs
  • How to account for the costs of personal absences by period
 

This webinar was produced with our partner, Federal Publication Seminars and requires payment prior to viewing.

Government Executive, January 30, 2019 – “Stopgap Spending Measure Doesn’t Fix Federal Contractors’ Problems”
Washington Technology, January 28, 2019 – “As shuttered agencies reopen, patience and empathy are virtues”
Washington Business Journal, January 25, 2019 – “Shutdown’s end means payments can start flowing, but when?”
Washington Business Journal, January 24, 2019 – “The shutdown’s impact on small contractors is bad and getting worse”
The Washington Post, January 22, 2019 – “Thousands of federal contract workers sent home due to shutdown.”
Washington Technology, January 7, 2019 – “Is LPTA here to stay?”
Financial Advisor, November 19, 2018 – “The McKelvey Group Reports Increased Demand for Succession Planning”
Washington Technology, November 15, 2018 – “Year-end prep can pay tax dividends”
Accounting Today, November 8, 2018 – “Accounting With a Cadence”
Washington Technology, November 6, 2018 – “Why a Proactive Year-End Approach Is Essential in the Government Arena”
Contract Management, March 1, 2018 – “Tips to Demystify Government Price Proposals”
Washington Technology, December 22, 2017 – “The Secret to Writing Winning Proposals”
The North Potomac Times, December 2014 – “The McKelvey Group, Inc.: Helping Clients Grow Their Business”

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