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Employees Reviewing Business's Indirect Rates Defined

Indirect Rates Defined

What’s in a name? We throw the names of indirect rates around as though everyone in the Government Contracting (GovCon) market understands them the same. First, Generally Accepted Accounting Principles…

G&A Unallowables Document in Business

Common Unallowables

Why do Auditors and Reviewers pick apart G&A (or ICR) expenses? What are they looking for? What supporting documents will approve the submission? First, each account in the G&A pool…

Government Contracting

Federal Contracting 101

GovCon Basics New to selling to the federal government? From contract terms and conditions (T’s & C’s) to regulations, the knowledge base can be overwhelming. From where does that jargon,…

Contract Claims Proposal

CONTRACT CLAIMS: Non-receipt for Extra Scope

My definitional difference between the hands-on workers (e.g., Project Manager, Chief Engineer) and the administrative workers (e.g., Contract Administrator, Accounting Manager) in your company is – when the Scope or…

DCAA Accounting

DCAA Accounting

Organizations that sell on contract to the federal government (Government) label regulatory or DCAA compliant Accounting Systems by many names. They all express the same idea. FAR accounting, DCAA accounting,…

FAR Compliance

FAR Compliance

Contracts funded by the U.S. Government are subject to the Federal Acquisition Regulations (FAR). Whether a prime contract, subcontract, or grant (or cooperative agreement), FAR compliance is mandated by the terms and…

DCAA Audit

DCAA Audit

The Defense Contract Audit Agency (DCAA) performs audits of prime contractor, subcontractor, and grantee (contractor) organizations. A DCAA audit does not negotiate or administer any contracts, but advises Contracting Officers who do….

Time Cost Budgeting

Time Cost Budgeting

What is Job Costing? A new-construction developer must distinguish the cost of developing Apple Orchard Place separate from Business Park West, separate from Commercial Office Landings. An advertising firm must…

Profit and Loss 101

Profit and Loss 101

What is the P&L? When we refer to financial statements, we generally mean: The Balance Sheet The Income Statement, also known as the Profit and Loss or P&L Statement The…