Page 48 - VYSNOVA PROGRAM MANAGEMENT GUIDE V1.1

P. 48

Accounting

and, if so, it is processed in excel by the Sr. Staff Accountant. The invoices are produced once a
month and sent to the F&A and PM to be reviewed prior to being submitted to the customer.
When the invoice is being reviewed, the PM should ensure any monthly reports are included with
the invoice and ensure the invoice contains all the information the customer has requested. If the
PM or F&A have been contacted regarding any issues with the invoice or its support the
information must be given to the Sr. Staff Accountant to ensure future invoices are submitted
accurately.

Purchase Requisitions (PR): This form is used to approve invoices from vendors, subcontractors
and or consultants but it also communicates how to charge the invoices to the end customer and
pay the vendor. It is imperative that the form is updated completely and accurately with support
to the form. The project for which the purchase is being processed must have the available funds
and approval by the Contracting officer. In addition, there is an approval matrix on the form that
must be followed for the vendor or sub invoice to be processed. If the vendor needs to be paid
via the company credit card, ensure all support and information is approved prior to the F&A or
PA charging to the company credit card. Template available in Vysnova Standard Docs Shared
Drive folder, see Annex E.
Host Country Government Tax Obligations

It is sometimes also the case that the field office/project receives tax obligation information at the
time of project start-up that may change during project implementation. For example, projects
may initially be informed by Ministry of Finance officials that their personnel and project
remittances are fully compliant with host country government regulations. However, sometimes
months or even years later, the PM receives notification that the Ministry of Finance is imposing
hefty fines on the project for non-compliance. Therefore, the PM will work closely with Counsel,
F&A and the HR and Project Associates to review these matters during project start-up. The PM
and Controller will make a recommendation to Vysnova management whether a local certified
public accountant (CPA) should be hired. The CPA would be tasked with assisting the PM in
establishing and implementing the most effective financial reporting and remittance systems to
prevent the project from being fined by the government later.

Vysnova Project Credit Cards
Vysnova uses American Express as the official business card provider. A PM may get a company
American Express to make travel plans and pay for ODC’s but must sign the credit card agreement.
No personal purchases may be made on the card, and all purchases, no matter if they are travel
or Other Direct Costs (ODCs) related, must be reported in a Travel or Business Expense Report
each month, accompanied by matching receipts for each transaction.

Unallowable Costs

As a Federal government contractor, Vysnova. is subject to Federal Acquisition Regulations (FAR)
and Cost Accounting Standards (CAS), AICPA Audit and Accounting Guide, Federal Government
Contractors, Par.2.24 FAR Section 31.205 provides guidance on the allowability and
reasonableness of selected items of cost, including the following items that are unallowable:

43 44 45 46 47 48 49 50 51 52 53