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* 1. How many employees are there in your company?

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* 2. Annual revenues

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* 3. Type of company

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* 4. How many federal grants/contracts do you currently have?

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* 5. Are you SBIR / STTR funded? (Check all that apply)

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* 6. Do you have a negotiated indirect cost rate?

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* 7. Which agency did you negotiated your rate with?

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* 8. Which agency do you receive the most amount of money from?

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* 9. What is your accountant’s experience level? (Check all that apply)

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* 10. Have you been audited. (Check all that apply)

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* 11. What accounting software do you use?

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* 12. Do you reconcile your bank account monthly?

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* 13. Are you using GAAP basis of accounting?

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* 14. Do you use accounts payable?

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* 15. Is your chart of accounts set up to allow for costs to be categorized as direct, indirect and unallowable?

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* 16. Does your accountant understand the difference between, direct costs, indirect costs, and unallowable costs?

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* 17. Does your accountant understand which costs are allowable and which ones are not, according to the Federal Regulations and the agency specific requirements?

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* 18. Does your accountant understand proper cutoff?

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* 19. Does your accountant understand who has title to purchased equipment?  In some cases, even if you paid for it, the government may own it.

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* 20. Are you coding your invoices with job numbers and g/l account numbers and is someone signing off as approved to pay?

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* 21. Do you use timesheets? (Check all that apply)

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* 22. Does your accounting system distribute labor to each cost category? Ie direct labor/project, indirect labor, bid and proposal labor, etc.

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* 23. Do you reconcile your labor per the general ledger to the quarterly 941s?

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* 24. Do you maintain a log and take inventory of government equipment/property?

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* 25. Do you maintain all receipts and invoices to support all expenses of the company?

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* 26. Does your accounting system allocate indirect costs to intermediate and final cost objectives based on a “logical and consistent method”, at least monthly?

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* 27. Does your accounting system accumulate direct costs by contract/grant budget category?

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* 28. Does your accounting system produce monthly job cost reports that include the following? (Check all that apply)

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* 29. Do you reconcile the job cost reports with the general ledger on at least a monthly basis?

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* 30. Does your accounting system produce monthly indirect cost rate reports?

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* 31. Is your accounting system capable of tracking all matching and cost sharing commitments? Ensuring that no federal funds are used to meet the requirement?

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* 32. Do you have the following written policies? (Check all that apply)

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* 33. Are all new grants and contracts (and modifications) summarized in a contract briefing summary document? This executive summary should outline the major financial highlights and budgetary constraints of each cost category of the project and major compliance requirements.  For example if there is a salary cap or not.

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* 34. Are you monitoring the period of performance dates for all active contracts and grants? Is management made aware of all projects when they hit the 80% spent point or have 2 months prior to ending so they can be spent out or extended?

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* 35. Are you tracking indirect rate over/underruns and recording the adjustments in the general ledger as necessary?

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* 36. Do you document all draws and billings, and maintain supporting records which tie back to the draws/invoice?

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* 37. Are you preparing and submitting timely and accurate financial reports and technical reports?

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* 38. Do you have written contract agreements with all your sub contractors?

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* 39. Do you file your tax return and pay your taxes timely?

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* 40. Contact Info.

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