COST ACCOUNTING-Genesis Corporation is a fairly large company whose basic business

Genesis Corporation is a fairly large company whose basic business has been in the commercial sector. To date, it has no Government contracts over $700,000, and has not been involved with Cost Accounting Standards. Genesis is contemplating proposing on a major Government contract estimated to be $100,000,000. Because of the technical aspects of the program, Genesis will need to utilize two major subcontractors to complete the project. It is estimated that each subcontractor will receive a contract estimated to be over $20,000,000.

Genesis has hired you as a consultant to advise the company on the contracting steps it must take to put itself into position to successfully compete for this valuable program.

What are some of the contracting elements you would advise the corporation to do to prepare to compete in this program?