Business Consulting Services for U.S. Federal Agencies, U.S. Private Agencies, and International Clients
The L'Cunni Group CPA's, PC provides a wide range of financial, regulatory, and business consulting services for U.S. federal agencies, U.S. private agencies, and international clients. We can assist with accounting policies and procedures, business entity selection, budgeting and cashflow projections, and DCAA compliant accounting services.
Financial Improvement and Audit Readiness (FIAR) Services
The L’Cunni Group CPA’s, PC offers support for Financial Improvement and Audit Readiness (FIAR) efforts. We are equipped and ready to assist you in meeting congressionally mandated deadlines to achieve fully auditable financial statements. Specifically, we can assist you in improving financial management, prioritizing improvement activities, strengthening internal controls, and achieving auditability. Our support focuses on budgetary information as contained in the Statement of Budgetary Resources (SBR) and information regarding the Existence & Completeness (E&C) of mission critical assets. Examples of our FIAR support are as follows:
- Perform a wide variety of analysis on the composition of financial statements.
- Develop internal controls and related test plans to support internal test work.
- Support internal control and substantive testing of business processes and financial statements. 
- Liaise with stakeholders and subject matter professionals.
- Perform analysis of business processes and internal controls to identify risks.
- Validate data elements to meet reporting parameters.
- Maintain relationships and communicate with key personnel to understand business operations, processes, and functions.
- Provide internal review and audit compliance assistance.
DCAA Compliant Accounting Services
The L’Cunni Group CPA’s, PC provides many services to business that compete for government contracts or are considering competing for government contracts. We have helped many clients with everything from preparing to pass a DCAA audit to establishing their accounting system, so it meets FAR requirements to business tax needs.
We provide the following DCAA compliant accounting services:
- DCAA Compliant Outsourced Accounting
- DCAA Audit Support
- Rate Calculations and Incurred Cost Submissions
- Contract Proposal and Pricing Support
- Accounting Policies and Procedures
DCAA Compliant Outsourced Accounting
Our accounting firm is proud of the dedication and expertise it brings to each client and each job with which we are involved. Our clients can rest assured that the extensive resources and experience brought to them by The L'Cunni Group CPA's, PC means they are receiving accurate accounting, financial, agreed-upon procedures, and consulting services as well as informed and reliable consultations for their business and personal needs.
Accounting for government contracts is very complex. The complex rules and compliance standards can be difficult for many businesses to navigate. The L’Cunni Group CPA’s, PC has extensive experience assisting businesses that compete for government contracts, with their accounting, billing, indirect cost allocations and special reporting. We can also assist with Defense Contract Audit Agency (DCAA) audits.
Our DCAA Compliant Outsourced Accounting services include:
- Accounts payable and receivable
- Preparation of forward pricing rates
- Preparation of billing rates
- Indirect cost allocations
- Job costing reports
- FAR compliance
- DCAA Audit support
- Government financial reports
- Annual incurred cost submission
- Annual financial statements and bank reconciliations
- Invoicing
- Journal entry and general ledger maintenance
- Strategic tax planning
DCAA Audit Support
Government contractors are required to adhere to very strict guidelines to be eligible to submit and be awarded contracts. The L’Cunni Group CPA’s, PC has expertise and experience not only assisting many businesses with their Defense Contract Audit Agency (DCAA) audits, but our owner is a former DCAA auditor himself.
With this unique perspective, we truly understand the DCAA audit process, objectives, and requirements. We are familiar with DCAA audit types, as well as the Federal Acquisition Regulations (FAR) and Cost Accounting Standards (CAS) that the DCAA audit aims to adhere to.
We offer support in the following areas:
- DCAA audit support and consulting
- FAR and CAS consulting
- Implementation of internal control measures
- Indirect rate development
- Accounting policy and procedure documentation
- Pre- and post-award audits
- We can support you with the following types of audits:
- Pre- and post-award audits
- Accounting system audits
- Cost proposal
- Billing system audits
- Indirect rate negotiation
- Incurred cost audits
- Forward pricing rate audits
Rate Calculations and Incurred Cost Submissions
Government contractors with cost reimbursable or time and material contacts are required to submit a Final Indirect Rate Cost Submission within six months after the end of its fiscal year. The L’Cunni Group CPA’s, PC will prepare your incurred cost submission and submit it to Defense Contract Audit Agency (DCAA) and other agencies on your behalf.
Our firm has extensive experience with Incurred Cost Submissions. We are owned and operated by a former DCAA auditor and, consequently, understand how time consuming and confusing the process can be.
Our firm will ensure all allowable costs are included in your submission along with supporting data. In addition, our firm will ensure costs that are NOT allowed are excluded, which can help you avoid DCAA audit issues and additional penalties for your business.
We offer the following Incurred Cost Submission services:
- Computing actual rates
- Billing rates for cost reimbursable contracts
- Reviewing your government contracts to determine compliance requirements
- Adjusting accounting records so they are consistent with Federal Acquisition Regulations (FAR) and DCAA requirements
- Identifying allowable indirect rates
- Reviewing files for costs that are not allowed
- Preparing the incurred cost rate proposal
- Compiling supporting documentation for the submission
- Interface with DCAA on your behalf
Contract Proposal and Pricing Support
Pricing a proposal correctly is one of the most important tasks for a government contractor. The proposal must be priced competitively and allow the company to cover its overhead plus make a profit. Overhead rates drive the price of the contract for service contracts. Overhead rates used in a contract proposal are called forward pricing rates. Forward pricing rates are based on a company budget. Budget projections need to be supported by explanations.
Under the Truth in Negotiations Acts, the Defense Contract Audit Agency (DCAA) or the contracting office may want to review the detail behind the rate build-up. Well-documented forward pricing rates are critical to sustaining the proposed rates in contract negotiations.
The L’Cunni Group CPA’s PC offer support in the following areas:
- Forward pricing rates
- Budgeting and forecasting
- Interface with DCAA on your behalf
Accounting Policies and Procedures
The L’Cunni Group CPA’s, PC helps government contractors by drafting, develop or reviewing a policies and procedures manual that will ensure internal controls are in place for your accounting and financial reporting.

Government contractors need policies and procedures that ensure controls are in place for accounting and financial reporting to become compliant with Federal Acquisition Regulations (FAR) and meet Defense Contract Audit Agency (DCAA) audit standards.
Our services include:
- Review of existing accounting policies and procedures manual
- Draft new accounting policies and procedures manual
- Review of accounting systems for compliance
- Review chart of accounts structure for compliance
- Review of internal controls and procedures for compliance
- Assistance resolving FAR and non-compliance issues with DCAA
- Evaluation of accounting system
- Labor cost tracking
- Job cost reporting
- DCAA compliant balance sheets
- Segregation of direct and indirect costs
- DCAA audit assistance
Business Consulting Services
At The L'Cunni Group CPA's, PC, our seasoned CPA’s provide our clients with business consulting services in the following areas:
- Business Entity Selection
- Budgeting and Cashflow Projections
- Outsource CFO and Controllership Services
Business Entity Selection
One of the biggest decisions facing anyone who owns or is planning to own a business is the selection of the appropriate business entity. There are significant legal and tax implications that differ from one entity selection to the next. Engaging a qualified accounting firm, like the team of business consultants at The L'Cunni Group CPA's, PC, can help you through the process and ensure that you are protected as far as liability issues are concerned. We can also help you select the entity that will give you the most favorable tax treatment available, thus maximizing possible revenue.
Based on several factors, including tax consequences, the sharing of profits among potential partners, and liability concerns, business owners have several options to choose from including a limited liability company (LLC), sole proprietorship, an S corporation or C corporation.
Budgeting and Cashflow Projections
It is very difficult to operate a business effectively and prosperously without a carefully calculated understanding of your cash flow. The best way to achieve positive cash flow is to develop an operating budget based on an understanding of your market, trends of the business, cost and sales forecasts, and many other factors
- Help secure credit from lenders
- Satisfy the inquiries of current shareholders
- Entice prospective shareholders to invest in your company
- Monitor your financial goals throughout the year
- Manage adjustments to your spending on a regular basis
Outsourced CFO and Controllership Services
If you are the owner of a small or medium sized business, you understand that the buck stops with you. You are the one who must work out the details of a possible capital expansion. It is you who must arrange the financing and decide whether it is the right time to make an investment in more personnel. You make all the financial decisions.

The problem is that you must do all of this while running the day-to-day operations of the business, bringing in the bulk of the sales and creating a positive work atmosphere for your employees. You may not have the resources, or the need, to hire a full-time CFO or Controller, but you could certainly use someone on a part-time basis. You know you could use the services of a quality accounting firm to take all that pressure off your shoulders and provide an objective perspective on several levels.
