JOHN T. LOVING

Introduction

A seasoned accountant experienced in all phases of Government Contractor and commercial accounting who can effectively communicate with contractors, Contracting Officers, the DCAA, and attorneys.  John has helped over 100 Government Contractors deal with accounting regulations.  Clients have ranged in size from one employee to thousands, and include manufacturing, construction, and services industries.  Extensive experience working with FAR Part 31, Cost Accounting Standards, Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), and Generally Accepted Governmental Auditing Standards (GAGAS).

 Work Experience

Loving & Sperry CPAS, LLP                                                                                                                 1983 to Present

Partner or sole practitioner with the accounting firm of Loving & Sperry, CPAs and KL Contract Consulting.  Practice has included: 

• Provides advice and assistance including pricing, to government contractors and their attorneys regarding terminations for convenience, equitable adjustment requests, claims, defective pricing, and investigation assistance.  Results include client success in negotiating or litigating these matters.
• Designs accounting systems.  Results include Federal Regulation compliant accounting systems for companies ranging in size from one employee to thousands of employees.  Clients successfully use QuickBooks, Deltek, Procas and other software.
• Prepares and revises Cost Accounting Standards (CAS) Disclosure Statements.  Results include Disclosure Statements that are accurate, clear, and in accordance with regulations.
• Prepares annual cost incurred proposals using the DCAA Incurred Cost Electronically software.
• Evaluates cost incurred proposals and delay/disruption claims for owners.  Results include providing clients with the information needed to successfully close these matters.  Knowledge gained in evaluating these matters provides a broad knowledge of the strengths and weaknesses of differing pricing methods.
• Audits financial statements.  Results include financial statements in accordance with Generally Accepted Accounting Principles meeting the requirements of banks, bonding companies and owners.
• Audits overhead statements prepared in accordance with FAR Part 31.  Results include overhead statements which satisfy regulations and the requirements of customers, including use of the AASHTO Uniform Audit and Accounting Guide.
• Provides litigation support including expert witness testimony.  Results include clear and concise presentation of positions so that all parties can understand the financial aspects of clients’ positions.  Cases have included terminations for convenience, defective pricing allegations, requests for equitable adjustment/claims, and criminal investigations by the Department of Defense and Securities & Exchange Commission.

Defense Contract Audit Agency                                                                                                          1973 to 1983

Auditor with the Defense Contract Audit Agency.  Progressed from auditor trainee to supervisor.  Assignments included audits of manufacturing and construction claims, post award reviews, incurred cost submissions, and support of investigations. This effort resulted in an in-depth understanding of DCAA procedures and preferences as well as varying contractor methods.

Publications

Pricing Commercial Items Convenience Terminations, Contract Management, October, 2004.

Terminations for Convenience, Contract Management, August, 2001.

Pricing Manufacturing Changes: Lessons from the Construction Industry, Contract Management, May, 1997.

Learning Curves, Uses and Misuses in Direct Labor Hour Projections, Contract Management, September, 1995.

Defective Pricing Allegation: An Auditor’s Perspective, Contract Management, March, 1992.

Seminars

Presented numerous seminars

Professional

Certified Public Accountant 

Member of the American Institute of Certified Public Accountants, the Texas Society of Certified Public Accountants, and National Contract Management Association. 

AMANDA SPERRY, CPA

Introduction

An accountant with experience in government contracting, income tax preparation, audits in accordance with Generally Accepted Auditing Standards (GAAS) and Generally Accepted Governmental Auditing Standards (GAGAS), and financial statement preparation.

Work Experience

Loving & Sperry CPAs, LLP                                                                                   1998 to Present

Partner

Practice areas include:

• Auditing historical overhead statements prepared in accordance with the FAR Part 31 Cost Principles, including use of the AASHTO Uniform Audit and Accounting Guide.
• Auditing financial statements.
• Preparing incurred cost proposals using the DCAA Incurred Cost Electronic (ICE) format.
• Preparing individual and business income tax returns.
• Preparing FAR Part 31 compliant books and record. 
• Evaluating requests for equitable adjustment and claims submitted by construction contractors.

Education.

She has a Bachelor of Science degree in Accounting from Texas Woman’s University where she graduated Summa Cum Laude in 1999.

She obtains 40 hours of continuing professional education per year.  Among the courses she has attended is The Federal Acquisition Cost Principles sponsored by the University of Texas at Arlington.

Professional.

She is a certified public accountant licensed in Texas.

 Susan Beemon Jones, CPA

Introduction

 A seasoned accountant experienced in all phases of Government contractor and commercial accounting.  Susan’s experience includes preparing and negotiating contract proposals for up to one billion dollars, completing requests for equitable adjustment, crafting Cost Accounting Standards Disclosure Statements, and designing accounting and billing systems.

Work Experience

Loving & Sperry CPAs, LLP                                                                                                                          25 Years

Partner

Practice areas include:

• Prepared government contractor proposals to the Department of Defense, NASA, FAA, NIH, DARPA, GSA, and large government prime contractors.
• Litigation support: 
• Worked closely with attorneys in the preparation and support of Requests for Equitable Adjustment for construction contractors.  Ensure that data submitted to the U.S. Government complied with all applicable FAR requirements, supported the Government’s audit, and assisted attorneys during negotiations or litigation.
• Served as an Expert Witness for a successful bid protester  (General Accounting Office Hearing)
• Served as an Expert Witness for a successful Defendant Intervenor (U.S. Court of Federal Claims)
• Collaborated with attorneys in a civil litigation lawsuit concerning the sale of one defense contractor to another.  This involved working with potential witnesses and analyzing approximately 500,000 documents in order to help determine if the predecessor company proposal had been properly prepared prior to the sale of the company

• Cost Accounting Standards.  Prepared, negotiated approval, and implemented Cost Accounting Standards Disclosure Statements for large government prime contractor and subcontractors.

• Accounting system design:
• Designed accounting systems to optimize maximum compliance and cost allocation recovery for government contractor clients, including compliance with the Service Contract Act, and other government laws and regulations. 
• Assisted clients in implementing accounting systems that comply with government contracts requirements.  Collaborated with software company representatives to facilitate implementation and training.

• Evaluated requests for equitable adjustment/claims for prime contractors. 

• Prepared annual incurred cost submissions using the DCAA Incurred cost Electronically software (ICE).

Government Contractors                                                                                                                              4 Years

• Prepared and negotiated Pricing Proposals to the Department of Defense, large Prime contractors, and various foreign governments.
• Prepared and monitored budgets for two divisions while serving as the Special Assistant to the General Manager.
• Analyzed and recommended cost savings to two divisions during a time of business downturn.
• Participated as part of a team in charge of moving an acquired company from Chicago to Dallas.  Responsibilities included establishing continuity in financial processes and ensuring that proposals and negotiations continued throughout the merger transition activities. 

 Department of Defense                                                                                                                                 9 Years    

• Audited pricing proposals and claims of defense contractors for the DCAA.
• Directed Defense Contract Data Division of the Dallas Defense Contract Administration Services Region (DCASR) responsible for contract data input, shipping data input, and contract audit and reconciliation for all defense contracts in a five state area.
• Audited various functions of Department of Defense agencies for the Defense Audit Service (DAS), at the direction of various Inspectors General, in order to determine compliance with government requirements and laws.  Completion of these activities required working internationally in partnership with the Naval Criminal Investigative Service, the Air Force Office of Special Investigations, the Army Criminal Investigation Division, the Defense Criminal Investigative Service, and the Federal Bureau of Investigation. 

Professional

 Certified Public Accountant

 Membership in:

• American Institute of Certified Public Accountants
• National Contract Management Association.