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Government Contracting Using Cost Of Capital To Assess Profitability
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Book Synopsis Government Contracting by : United States Accounting Office (GAO)
Download or read book Government Contracting written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-04-24 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: NSIAD-91-163 Government Contracting: Using Cost of Capital to Assess Profitability
Book Synopsis Government Contracting by : U S Government Accountability Office (G
Download or read book Government Contracting written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pursuant to a congressional request, GAO: (1) evaluated the effectiveness of the government's current method of assessing contractors' profitability levels; and (2) identified other methods that might better identify appropriate levels of defense contractors' profitability. GAO found that: (1) government use of the return on assets measure to assess the profitability of defense contractors is beneficial because it recognizes how government financing can affect contractors' levels of profitability, but it fails to distinguish between firm- and segment-level risk, which can vary significantly; (2) the cost-of-capital measure, used along with other financial measures, would eliminate the requirement that defense contractors' profitability be compared solely with that of other companies, thereby reducing concerns about whether firms are comparable; (3) using both accounting measures would provide a more valid picture of a company's financial health, since each measure considers a different side of the balance sheet; (4) studies comparing the profitability of government contracts with that of commercial durable goods manufacturers could provide useful information on appropriate profitability levels, but several of the studies used inappropriate groupings that could have distorted the results of the conclusion drawn from such a comparison; (5) if appropriate segment-level data were collected, the cost of capital could be computed for groups of defense industries as a principal indicator of the return required by those groups over time; (6) policymakers could assess defense profitability trends and determine when changes to policies or other regulations were needed to ensure that individual industry groups had adequate profitability levels over time if cost of capital were used in conjunction with return on invested capital; and (7) the framework of data for assessing the relationship between risk and profitability is not in place, because financial data are not publicly available on a recurring basis for just those segments of a company that perform government work.
Book Synopsis Government Contracting by : United States. General Accounting Office
Download or read book Government Contracting written by United States. General Accounting Office and published by . This book was released on 1991 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Government Contracting : Financial Measures for Evaluating Contractor Profitability by :
Download or read book Government Contracting : Financial Measures for Evaluating Contractor Profitability written by and published by . This book was released on 1990 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Government Contracting by : United States. General Accounting Office
Download or read book Government Contracting written by United States. General Accounting Office and published by . This book was released on 1987 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO proposed legislation to study the profitability of government contractors and: (1) require major government contractors to annually report financial results to an official designated by the President; (2) define criteria for determining which companies will be subject to reporting requirements; and (3) create a Department of Defense (DOD) Profit Reporting Program. GAO believes the program should require: (1) a consistent methodology to evaluate profitability; (2) a means to establish the reliability of contractor-furnished data; and (3) mandatory contractor participation. GAO found that contractors and agencies remain opposed to the program because they believe that: (1) DOD ad hoc studies of contractor profitability would be adequate; (2) the costs of the study would outweigh the benefits; and (3) the government could not adequately protect proprietary information.
Book Synopsis Government Contracting by : United States. General Accounting Office
Download or read book Government Contracting written by United States. General Accounting Office and published by . This book was released on 1987 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Government Contracting by : U S Government Accountability Office (G
Download or read book Government Contracting written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pursuant to a congressional request, GAO provided information on the types of financial measures that could be used to assess the effect that federal government policies may have on the profitability of government contractors. GAO found that: (1) the price earnings ratio was not an appropriate indicator of profitability for government contractors, since it was better suited for measuring stock market expectations than current profitability; (2) the return on assets ratio was a more desirable measure of profitability since it could provide a basis for measuring the impact of policies, be computed at the segment level, and be derived from historical financial data which could be audited; and (3) while not suitable as overall profitability measures, such financial measures as capital expenditures ratios, research and development ratios, liquidity ratios, and debt management ratios could be used to provide additional insight into the effect of individual government policies.
Book Synopsis Government Contracting: Compensation of Defense Contractors' Working Capital Financing Costs by :
Download or read book Government Contracting: Compensation of Defense Contractors' Working Capital Financing Costs written by and published by . This book was released on 1990 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: DOD'S profit policy includes a provision to recognize the millions of dollars defense contractors incur annually in financing working capital costs on fixed-price contracts. Working capital costs consist of the contractor's work in process costs-material, labor, and overhead that are not financed through progress payments' or other payments. In negotiating contract prices, DOD does not attempt to prepare an exact calculation of such costs, but instead tries to give general recognition to the contractor's working capital costs under varying contract circumstances, financing policies, and economic environments. If DOD'S policy does not appropriately consider a contractor's working capital financing costs, it could affect contract profits, either to the contractor's or the government's disadvantage. DOD'S policy generally recognizes the important factors that affect contractors' working capital financing costs. Our analysis of a sample of contracts showed that in the aggregate the policy resulted in approximately the right amount of these financing costs being included in the profit objective. That is, the costs likely to be incurred during the life of the contract were close to the amounts estimated by DOD. While this was true in the aggregate, there were differences of 10 percent or more in most of the individual contracts between DOD'S estimate and our estimate of working capital costs. On individual contracts, therefore, if contracting officers do not adjust for the specific circumstances of that contract, too much or too little profit could be included in the contract price.
Book Synopsis Pricing and Cost Accounting by : Darrell J. Oyer CPA
Download or read book Pricing and Cost Accounting written by Darrell J. Oyer CPA and published by Berrett-Koehler Publishers. This book was released on 2011-04-01 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essential reference to help federal contractors negotiate and maintain profitable contracts—Now in its third edition! This is the essential reference to help federal contractors negotiate and maintain profitable contracts—and remain in compliance throughout the life of the contract. Government contracting rules and regulations have changed significantly over the past six years. This new third edition addresses these changes and more: New thresholds for certification of cost and pricing data Revisions in cost accounting standards Implementation of commercial time-and-material and labor-hour contracts New, stringent ethics requirements Impact of stimulus funding Revised cost principles, including excessive pass-through costs, post-retirement benefits, and travel costs Redirected audit initiatives based on the GAO review of DCAA Plus…changed requirements for bidding…pricing…cost accounting…subcontracting…contract modification…all the information you need to be in compliance with the new rules. No other single book provides as much up-to-date federal procurement cost and pricing information in such a concise - yet comprehensive - format.
Book Synopsis Cost-Based Pricing by : Darrell J. Oyer
Download or read book Cost-Based Pricing written by Darrell J. Oyer and published by Berrett-Koehler Publishers. This book was released on 2012-10 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: This master reference is essential if you contract with the government! Correctly pricing your goods or services—and making certain that those prices are in compliance with myriad federal rules and regulations—is essential to doing business with the government…and ensuring your commercial success. Cost-Based Pricing: A Guide for Government Contractors shows you how to appropriately estimate and price for government contracts and defend those estimates in a government contracting and subcontracting environment. This practical book includes coverage of all government pricing rules and regulations as well as pertinent aspects of related laws, such as the Truth in Negotiations Act. The book walks you through every step of the estimating process. From figuring direct labor costs to intra-company transfers to contract modifications, the coverage is extensive yet accessible for even those new to the process. Using Cost-Based Pricing, you will be able to: • Develop more realistic estimates • Enhance your support of those estimates in negotiations • Avoid violations of the Truth in Negotiations Act • Increase your chances of securing a fair and reasonable price Cost-Based Pricing: A Guide for Government Contractors can make the difference between your success—and profitability—and failure in the federal government arena.
Book Synopsis Guide to Contract Pricing by : John E. Murphy CPA, CPCM
Download or read book Guide to Contract Pricing written by John E. Murphy CPA, CPCM and published by Berrett-Koehler Publishers. This book was released on 2009-05-01 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perform Contracting Successfully! This master reference — in its fifth edition — contains everything you need to know about government pricing rules and regulations in one easy-to-use volume.Guide to Contract Pricing: Cost and Price Analysis for Contractors, Subcontractors, and Government Agencies, Fifth Edition, explains how the government conducts business and walks you through every step of the contracting process. This fully updated edition includes a new chapter on the role of auditors in contract pricing as well as five new detailed appendices. You'll be able to: + Master the steps of the sealed bid process + Improve your skills at evaluating bids, proposals, and quotations + Perfect your ability to analyze direct and indirect labor costs + Improve your chances for securing a fair and reasonable price
Book Synopsis Status of Open Recommendations by : United States. General Accounting Office
Download or read book Status of Open Recommendations written by United States. General Accounting Office and published by . This book was released on 1992 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Government Operations. Legislation and National Security Subcommittee Publisher : ISBN 13 : Total Pages :224 pages Book Rating :4.3/5 (121 download)
Book Synopsis Review of the Defense Department's Profit Policy for Noncompetitive Contracts by : United States. Congress. House. Committee on Government Operations. Legislation and National Security Subcommittee
Download or read book Review of the Defense Department's Profit Policy for Noncompetitive Contracts written by United States. Congress. House. Committee on Government Operations. Legislation and National Security Subcommittee and published by . This book was released on 1987 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Profitability and Cost Shifting in Government Procurement Contracts by : Hui Chen
Download or read book Profitability and Cost Shifting in Government Procurement Contracts written by Hui Chen and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine whether contractors with cost plus contracts earn a higher profit, and whether the higher profit is associated with cost shifting behavior, using a unique set of data of federal procurement contracts between the years 2005 and 2010. Prior research often examines government contractor profitability without differentiating the contract types, which is a key determinant to the contractor's ability to cost-shift. We identify firms that are awarded with cost plus contracts in some years and without in other years. We find their profitability significantly increases during the years that cost plus contracts are awarded. We also find that these firms exhibit greater discretionary expenditures during the years with cost plus contracts, relative to the years without, which is consistent with cost shifting behavior. However, effective monitoring through the Cost Accounting Standards helps mitigate such behavior.
Book Synopsis Financial Management in Construction Contracting by : Andrew Ross
Download or read book Financial Management in Construction Contracting written by Andrew Ross and published by John Wiley & Sons. This book was released on 2013-01-29 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative text provides a detailed insight into how construction companies manage their finances at both corporate and project level. It will guide students and practitioners through the complexities of the financial reporting of construction projects within the constraints of accepted accounting practice. The book is written for non-accountants and from a contractor’s perspective and is equally relevant to subcontractors and main contractors. The authors examine the relationship between the external annual accounts and the internal cost-value reconciliation process. CVR is covered in depth and the authors consider issues such as interim payments, subcontract accounts, contractual claims, final accounts, cash flow management and the reporting of the physical and financial progress of contracts. A broad perspective of all the financial aspects of contracting is taken along with related legal issues and the authors explain how things operate in the ‘real world’. They describe good practice in financial control while at the same time being honest about some of the more questionable practices that can - and do - happen. The approach taken is unique as the financial management of construction projects is considered from the perspective of the contractor’s quantity surveyor. The book deals with the real issues that surveyors have to address when using their judgment to report turnover, profitability, cash flow, and work in progress on projects and the financial problems faced by subcontractors are frankly and pragmatically explored. The payment and notice requirements of the Construction Act are explained in detail and relevant provisions of JCT2011, NEC3, ICC, DOM/1 and other standard contracts and subcontracts are also covered. Financial Management in Construction Contracting addresses the wide variety of external factors that influence how construction companies operate, including government policy, banking covenants and the financial aspects of supply chain management. Cost reporting systems are described and real-life examples are used to illustrate cost reports, accrual systems and how computerised systems can be employed to provide the QS with information that can be audited. Examples drawn from practice demonstrate how work-in-progress (WIP) is reported in contracting. Cost value reconciliation reports are featured and the book demonstrates how adjustments are made for overmeasure, undermeasure, subcontract liabilities and WIP as well as explaining the processes that contractors use when analysing external valuations. This is the ideal core text for final year degree and post-graduate level modules on Quantity Surveying, Commercial Management, Construction Management and Project Management courses and will provide an invaluable source of reference for quantity surveyors and others who may be engaged in the financial management of construction projects. The book’s companion website at www.wiley.com/go/rossfinancialmanagement offers invaluable resources for students and lecturers as well as for practising construction managers: end-of-chapter exercises + outline answers PowerPoint slides for each chapter ideas for discussion topics links to useful websites
Download or read book Reports and Testimony written by and published by . This book was released on 1991 with total page 938 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis For-Profit Enterprise in Health Care by : Institute of Medicine
Download or read book For-Profit Enterprise in Health Care written by Institute of Medicine and published by National Academies Press. This book was released on 1986-01-01 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: "[This book is] the most authoritative assessment of the advantages and disadvantages of recent trends toward the commercialization of health care," says Robert Pear of The New York Times. This major study by the Institute of Medicine examines virtually all aspects of for-profit health care in the United States, including the quality and availability of health care, the cost of medical care, access to financial capital, implications for education and research, and the fiduciary role of the physician. In addition to the report, the book contains 15 papers by experts in the field of for-profit health care covering a broad range of topicsâ€"from trends in the growth of major investor-owned hospital companies to the ethical issues in for-profit health care. "The report makes a lasting contribution to the health policy literature." â€"Journal of Health Politics, Policy and Law.
