SMBAccountant
DECEMBER 2, 2020
Many small business government contractors are exempt from complying with cost accounting standards (CAS) and defined by the code of federal regulations (CFR). However, compliance with generally accepted accounting principles (GAAP) is required. What exactly is GAAP?
CPA Practice
FEBRUARY 13, 2023
Cost accounting and inventory management: This includes standard cost systems, activity-based costing, and cost-volume-profit analysis, among others. It’s essential for companies to effectively manage their inventory costs and control the manufacturing process. Here’s what it came up with.
Cherry Bekaert
MAY 9, 2024
Maintaining accounting records on an accrual basis in accordance with generally accepted accounting principles (GAAP) will be critical to the efficiency of the audit. The firm should also review its allocation of overhead costs to ensure that it is allocating costs in a fair and accurate manner.
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