SMBAccountant
DECEMBER 16, 2020
These programs are offered by the government to encourage innovation with the potential for commercialization. These programs often result in technology or products that begin with government use and then become commercial items. Typically it is recorded when the expense is incurred in an R&D expense account.
SMBAccountant
OCTOBER 21, 2020
There are certain expenses that a business incurs that the federal government does not reimburse. While these costs may be legitimate business expenses, the federal government may disallow a cost which means it cannot be reimbursed using the incurred costs rates calculated to reimburse costs for cost contracts.
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Cherry Bekaert
OCTOBER 17, 2023
Cost Accounting Standards (CAS) are 19 standards and rules promulgated by 41 U.S.C. They are designed to achieve uniformity and consistency in cost accounting practices and to improve the accuracy of cost data by ensuring its basis on consistent definitions and principles. View all Government Contracting Podcasts Questions?
SMBAccountant
NOVEMBER 4, 2020
Quality management and accounting systems go hand in hand, especially when it comes to managing government contracts. DCAA auditors not only want to see that there is a policy in place, but there is continued effort to monitor the effectiveness through separation of duties and internal audits.
SMBAccountant
JULY 14, 2020
This is the simplest form as your books match your bank account. The accrual basis of accounting matches income and expenses in the same time frame, regardless of when the money came into or left the bank account. Using cash basis accounting, Doe Co. Using cash basis accounting, Doe Co. For example: Doe Co.
Going Concern
JULY 19, 2023
Hong Kong is suffering from “a serious talent shortage” according to an article today in South China Morning Post and The Hong Kong Association of Registered Public Interest Entity Auditors (PIEAA) says accounting firms should start looking overseas. What a novel idea! We should try that here in the US. “It
Going Concern
JUNE 1, 2023
Bringing things back to this decade, he then talks about what’s going on at PwC Australia even though auditors weren’t the ones using confidential government data to bill clients for tax avoidance plans. For starters, auditors are paid by the companies they’re auditing.
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