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). There is no complete set of principles since different industries must report financial data differently. What exactly is GAAP?

Government 219

Government accounting principles Account accountant 219

Cherry Bekaert

MARCH 7, 2024

The Cybersecurity Maturity Model Certification (CMMC) is a unified cybersecurity standard for Department of Defense (DoD) acquisitions aimed at securing the Defense Industrial Base (DIB) supply chain. It is also widely anticipated that CMMC will eventually extend past DoD contractors to include civilian agencies as well. The “CMMC 2.0”

audit 94

audit Government Start-ups Maine 94

Cherry Bekaert

SEPTEMBER 26, 2023

Theydiscuss one of their favorite topics: timekeeping and the government’s expectations. View all Government Contracting Podcasts Questions? View all Government Contracting Podcasts Questions? Contact Us The post DCAA Compliant Timekeeping Best Practices for Government Contractors appeared first on Cherry Bekaert.

Government 105

Government auditor audit accounting system 105

Cherry Bekaert

MARCH 13, 2023

In this episode, Eric Poppe , a Managing Director in Cherry Bekaert’s Government Contractor Industry practice , and Brian Kirk , Senior Manager in the Firm’s Information Assurance & Cybersecurity practice, share an update on the status of the final rule of the Department of Defense (DoD) Cybersecurity Maturity Model Certification (CMMC) 2.0

Government 97

Government 97

CPA Practice

APRIL 1, 2024

Top 200 accounting firm Stambaugh Ness has acquired Left Brain Professionals, a Westerville, OH-based accounting and advisory firm serving government contractors, effective April 1. In conjunction with the acquisition, Stambaugh Ness has launched an Outsourced Accounting Services (OAS) for Government Contractors practice area.

Government 52

Government accounting system accounting firms Tax 52

AccountingDepartment

NOVEMBER 16, 2023

The government contracting sector is highly regulated and requires strict compliance with Defense Contract Audit Agency (DCAA) regulations. With ever-evolving regulations and a complex accounting system to manage, the government contract (GovCon) industry has a steep learning curve for small and medium-sized contractors.

Technology 81

Technology Account accountant accounted 81

Cherry Bekaert

APRIL 19, 2023

Government Property Management System is one of the six systems covered by the Department of Defense’s (DoD) Contractor Business Systems. View all Government Contracting Podcasts Questions? Contact Us The post Contractor Business Systems Series: Part 6 – Property Management System appeared first on Cherry Bekaert.

audit 74

audit Government accounting system Account 74

Menzies

APRIL 18, 2024

The rules exist to ensure that in circumstances where a worker or contractor meets the definition of an employee, that worker pays broadly the same income tax and National Insurance contributions to that of a PAYE employee. Construction is another target area due to the use of contractors. What is IR35?

chartered accountant 64

chartered accountant income tax Entertainment Construction 64

Withum

FEBRUARY 20, 2024

Contractor facilities—including design, development, networks, supply chains and personnel—have been used by threat actors as cyber pathways to access government program organizations and systems to steal, alter and impact systems for their own objectives. As such, the CMMC program was developed and then updated.

Government 78

Government Start-ups Technology 78

Cherry Bekaert

JANUARY 30, 2024

In the third episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran , a Director with Cherry Bekaert Advisory, is joined by Jeffery Annessa , a Senior Manager in Cherry Bekaert’s Government Contractor Industry practice, to discuss CAS implications during mergers and acquisitions.

accounting standards 105

accounting standards cost accounting Account accountant 105

Withum

MAY 3, 2022

On May 1, 2022, Leneé Lyte , founder and CEO of boutique firm LYRC CPA, joins Withum to bolster the Firm’s Government Contractors Services practice. Leneé will join the Withum roster as a Principal in the Washington, DC office, increasing the Firm’s regional presence in its nationwide Government Contractor business.

Government 98

Government Washington CPA 98

Cherry Bekaert

AUGUST 9, 2023

View all Government Contracting Podcasts Questions? By law, the DCAA is required to submit an annual report detailing the DCAA’s activities for the previous year. If you have any questions specific to your situation, we are available to discuss your situation with you.

audit 97

audit auditor Government public accounting 97

Cherry Bekaert

NOVEMBER 21, 2023

View all Government Contracting Podcasts Questions? If you have any questions specific to your situation, our GovCon consultants are available to discuss your situation with you. Contact us. Contact Us The post Effective Operational & Financial Performance: Budget Considerations During Year-End appeared first on Cherry Bekaert.

Government 52

Government Finance 52

Withum

DECEMBER 16, 2022

Martinez & Associates and Withum share a commitment to providing world-class service to businesses in Florida, particularly those in the automotive and government contracting industries. A specialized focus in the automotive, construction/manufacturing and government contracting industries has led the firms growth over the years.

Florida 98

Florida CPA Construction Manufacturing 98

Withum

FEBRUARY 20, 2024

A proposed environmental, social, and corporate governance (ESG) ruling will impose new reporting requirements for government contractors. The new rule, to be incorporated into FAR subpart 23, intends to protect the government supply chain from climate-related financial risk. million or higher. million or higher.

Government 52

Government Transportation Non-Profits Maine 52

Cherry Bekaert

JANUARY 25, 2023

Stay Connected An Earned Value Management System (EVMS) refers to the software, processes, tools, templates and management controls a contractor uses to accomplish their earned value management activities in accordance with the guidelines established by the Electronics Industry Alliance (EIA) Standard 748.

audit 75

audit Government accounting system Account 75

SMBAccountant

AUGUST 12, 2020

When working as a government contractor, these processes and policies need to be written, reviewed, and updated regularly to ensure compliance with the company’s own requirements, and the accounting standards demanded of contractors spending tax dollars. Many people ask, “what written policies and procedures do I need to have?”

Government 190

Government Account accountant accounted 190

Withum

MARCH 27, 2024

In 2020, I became the Director of Service, supporting all our local unions and contractors, providing services and growth for our members and contractors in an ever-expanding environment of opportunity. How are you seeing AI affect the industry? Madison: Thriving, growing, diversifying.

Nevada 111

Nevada Construction Start-ups Education 111

Withum

MARCH 29, 2023

Whether you are pursuing a new contract or have extensive experience in the industry, having the proper contractor business systems in place can ensure that your business is on the path to profitability and compliance. Who must comply, and what must the contractor comply with? Compliance is a broad topic.

Non-Profits 69

Non-Profits Government accounting system accounting standards 69

Cherry Bekaert

MARCH 17, 2023

The Cybersecurity Maturity Model Certification (CMMC) is a unified cybersecurity standard for Department of Defense (DoD) acquisitions, aimed at securing the Defense Industrial Base (DIB) supply chain. With the above timeline, contractors are likely looking at September 2023 as the earliest date the CMMC rule would become final.

Government 98

Government Maine Start-ups 98

Cherry Bekaert

MAY 16, 2023

Contributors: John Ford | Senior Consultant, Government Contracting Industry Practice Tony Konkol | Manager, State & Local Tax Practice As a general rule, corporations are responsible for paying Federal and state taxes on the income they earn. In ISN I, the contractor was an S corporation located in Maryland.

income tax 88

income tax Tax tax return Connecticut 88

TaxConnex

OCTOBER 29, 2020

If you’re a construction contractor – especially if you’re engaged in contracts in different states – you have to evaluate your sales tax responsibilities in each state where you have customers. Here are some of the complications you could face in the construction industry when it comes to sales tax. There are exceptions though.

Construction 137

Construction Sales Tax South Dakota 137

Cherry Bekaert

MAY 2, 2023

While the foregoing shows why it is not a good idea to engage in self-help when addressing legal matters, JV agreements are not the only area where state law comes into play regarding government procurement. Generally, the Federal Acquisition Regulation (FAR) does not apply to prime contractors when they are seeking to award a subcontract.

Government 86

Government Michigan Legal Start-ups 86

Withum

FEBRUARY 9, 2023

Sage Intacct Construction is one of the top construction finance management software providers and is the first and only AICPA-preferred accounting solution for general contractors and developers. It’s built specifically for the construction industry , providing real-time visibility and insights through role-based dashboards.

Construction 122

Construction accounts payable accounting and finance accounting software 122

Cherry Bekaert

JUNE 14, 2023

As an authorized C3PAO, Cherry Bekaert assists DoD contractors seeking a CMMC assessment with CMMC readiness and DIBCAC Joint Surveillance Voluntary Level 2 assessments in partnership with the DIBCAC. Brings Major Program Changes View all Government Contracting Podcasts Questions? Podcast: What’s New with CMMC 2.0?:

Government 52

Government 52

Cherry Bekaert

APRIL 20, 2024

We assess across all elements of an organization’s cyber posture – all levels of governance, compliance, risk, vulnerability, technical, and physical controls can and should be assessed before any merger or acquisition. Training Your Workforce To Be “Cyber-Ready” Ransomware attacks are costly and pervasive.

audit 52

audit auditor Government cpa firm 52

Cherry Bekaert

APRIL 5, 2023

Contractors with the Federal Acquisition Regulation (FAR) Clause 52.216-7, Allowable Cost and Payment included in their cost reimbursable and time & materials (T&M) contracts are required to submit an Incurred Cost Submission (ICS). View all Government Contracting Podcasts Questions?

audit 73

audit Government 73

Cherry Bekaert

JANUARY 18, 2023

In this episode of Cherry Bekaert’s Government Contracting podcast series, John Ure and Carol Marin , Tax Partners in Cherry Bekaert’s Government Contractor Industry practice join James Kahrs , a Business Development Director in the Firm’s GovCon practice. View all Government Contracting Podcasts Questions?

Government 75

Government Tax 75

SMBAccountant

AUGUST 12, 2020

When working as a government contractor, these processes and policies need to be written, reviewed, and updated regularly to ensure compliance with the company’s own requirements, and the accounting standards demanded of contractors spending tax dollars. Many people ask, “what written policies and procedures do I need to have?”

Government 100

Government Account accountant accounted 100

AccountingDepartment

DECEMBER 8, 2021

When you are a contractor for the government, it is very important that you follow various federal rules and regulations. DCAA compliant accounting is a widely used term in the contracting industry. With DCAA-compliant accounting, you can reduce the risks of problems with an audit and be much better prepared for an audit.

Government 75

Government audit Account accountant 75

SkagitCountyTaxServices

NOVEMBER 2, 2023

You might remember this little story from last year when an ex-IRS contractor pleaded guilty to leaking President Trump’s private taxpayer information along with many other wealthy individuals. Government Accountability Office back in September. Is your business in a traditional tipping industry?

CPA 76

CPA Government Sales Tax 76

Withum

MARCH 22, 2022

The impacts on the government contracting industry Requirements for small businesses and 8(a) contractors How to prepare for a level one self-assessment . My name is Wendy Terry and I am the practice leader for our government contracting practice here at Withum. Current updates and status of CMMC 2.0 I appreciate it.

Government 83

Government Maine Start-ups Technology 83

Cherry Bekaert

FEBRUARY 27, 2023

Stay Connected In Part 1 of this two-part series, Cherry Bekaert’s Government Contracting Industry advisors discussed what companies need to consider when being acquired or acquiring a company that has federal contracts that are a significant part of their business, including some of the administrative items critical to that process.

Government 40

Government Tax Sales 40

SkagitCountyTaxServices

JANUARY 5, 2022

Your choices will make all the difference this year — not government policies, congress, sloppy vendors, or recalcitrant employees. All of the virtual and home-based work that is flying around is leading to some business chicanery when it comes to deeming employees as independent contractors as a tax dodge. ” Ha!

Tax 79

Tax CPA Construction California 79

LyfeAccounting

JANUARY 7, 2021

?. Government spending represents over ? Who is profiting from government spending? Government contractors. That’s a lot of money going into the hands of businesses that are set-up to get government contracts. That’s a lot of money going into the hands of businesses that are set-up to get government contracts.

Government 59

Government tax return accounting and finance Start-ups 59

Basis 365

JUNE 10, 2022

Learn the Difference between Employees and Contractors Many companies who require help in the office will find it easier to hire contractors for specific projects. Taxes are the most significant difference between employees and contractors. Contractors are responsible for the payment of taxes throughout the year.

payroll 52

payroll income tax payroll tax Tax 52

PYMNTS

FEBRUARY 14, 2020

In particular, the law places limits on just who can be classified as a contractor, while also making it harder for platform companies to classify those workers as independent contractors. If workers are classified as employees, taxes get withheld — and, of course, are paid to the government. And what it will all cost?

California 64

California Oklahoma Government Manufacturing 64