SERVICE · GOVERNMENT ACCOUNTING
FAR-compliant accounting for government-funded programs
Working with public agencies means more than delivering good work. It means operating under financial standards that most accounting systems and advisors aren't built for. FAR compliance, indirect cost rates, project-level cost tracking, and audit-ready records are table stakes for firms pursuing government and federal agency contracts.
BDM Advisory brings hands-on experience building and running these systems from the inside — not just advising on them. We implemented FAR and DFAR-compliant accounting infrastructure at a DOD/mil-gov contractor, including full chart of accounts restructuring and project cost tracking aligned to federal standards.
What we do
FAR-Compliant Chart of Accounts Design
We design or restructure your chart of accounts to properly segregate direct and indirect costs, align with FAR 48 CFR Part 31, and support both project billing and indirect cost rate development.
Who this is for
Timekeeping Policy & Systems
We develop FAR-compliant timekeeping policies and configure electronic timekeeping systems to meet AASHTO Audit Guide standards — covering daily time entry, uncompensated overtime, direct/indirect segregation, and access controls.
Project Cost Tracking & Labor Distribution
We implement project-level cost tracking and Labor Distribution Reports (LDR) that reconcile to payroll, your general ledger, and your Indirect Cost Rate (ICR) schedule — the four-way tie that government auditors require.
Engineering and professional services firms pursuing government contracts
Infrastructure contractors and subcontractors operating under federal funding requirements
Small and emerging businesses entering the government contracting market for the first time
Firms that received a Safe Harbor rate and need to develop a full FAR-compliant ICR