SMBAccountant

JULY 29, 2020

Budgets may be the most artful part of accounting. Government contractors have an even harder and more dire concern when it comes to cost plus contracts. Large variances between the budget and actual expenses can result in money owed to the contractor, or worse, money owed back to the government. The other issue is timing.

Government 190

Government Account accountant accounted 190

SMBAccountant

JANUARY 5, 2024

The beginning of a new year also means a fresh start for your Income Statement; which is why now is the perfect time to review your accounting software needs. Accounting may be complicated and time-consuming, especially with spreadsheets. That's why most firms use invoicing and accounting software.

accounting software 246

accounting software Account accountant accounted 246

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.

Government 190

Government Account accountant accounted 190

Accounting Today

APRIL 10, 2024

Failure to maintain an acceptable accounting system may result in the withholding of payments from the government to a contractor.

Government 68

Government accounting system Account accountant 68

AccountingDepartment

FEBRUARY 15, 2024

For a business, becoming a government contractor can open doors to a sea of lucrative opportunities – but these waters run deep with regulations, especially those set by the Defense Contract Audit Agency (DCAA). A critical cog in the machinery that is the U.S.

Government 96

Government audit Account accountant 96

SMBAccountant

OCTOBER 7, 2020

This requires a detailed job costing within an accounting system for which many contractors are not prepared. These oversight bodies are not typically concerned with a contractor’s accounting system during a phase I award because of the fixed price. The accounting system must be able to identify and segregate disallowed costs.

Account 246

Account accountant accounted accrual accounting 246

LSLCPAs

SEPTEMBER 12, 2023

With the settlements with various pharmaceutical companies and distributors being finalized recently, there’s been a lot of uncertainty about what the accounting for these settlement funds looks look. The post Accounting for Opioid Settlement Funds in Local Governments appeared first on LSL CPAs.

Government 59

Government Pharmaceutical Account accountant 59

RogerRossmeisl

OCTOBER 24, 2023

If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for the government benefits to which they’re entitled. law made changes that will allow more people to be eligible for these accounts, beginning in 2026. The SECURE 2.0

Account 255

Account accountant accounted cpa 255

Going Concern

SEPTEMBER 20, 2023

note: This post brought to you by the Big Government Auditing lobby. Just kidding, it’s a guest post from Parker Skaats, CPA, an experienced government worker who’s here to pitch the joys of government work to the unwashed overworked masses. Enter the world of government auditing. But government gigs?

Government 121

Government audit cpa auditor 121

LSLCPAs

FEBRUARY 12, 2024

The post 4 Ways Outsourced Accounting Helps Non-Profits Deal with Multi-level Government Regulations appeared first on LSL CPAs. Your entity might be a charitable organization, a public charity, or a private foundation. Whether you are a 501(C)(3),(4), (6), or something.

Non-Profits 59

Non-Profits Government cpas Account 59

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.

Government 100

Government general ledger Account accountant 100

Cherry Bekaert

SEPTEMBER 26, 2023

However, the Defense Contract Audit Agency (DCAA) does have some specific requirements they look for when performing accounting system audits and labor floor checks. View all Government Contracting Podcasts Questions? View all Government Contracting Podcasts Questions?

Government 105

Government auditor audit accounting system 105

Going Concern

JUNE 7, 2023

For some time now municipalities have felt the crunch from the accountant shortage and unlike public accounting firms feeling the same, these entities don’t have the luxury of turning down work to ease it nor can they overwork their people with no overtime. Glad you didn’t ask!

Government 52

Government accounting clerk Account accountant 52

Accounting Insight

NOVEMBER 13, 2023

And the polls and recent by-elections results suggest the most probable outcome is a Labour Government. Nothing in politics is ever a sure bet, but it does make sense for accountants to start getting an idea about what changes Labour is keen to make should it win the election. These rights would start on day 1.

payroll 59

payroll Government Account accountant 59

Going Concern

MAY 30, 2023

FT dropped this over the weekend : Candidate numbers for US accountancy exams drop to lowest in 17 years New figures from the American Institute of Certified Public Accountants showed the shortage of CPA candidates that has plagued the profession in recent years worsened in 2022, dashing hopes for a quick rebound from the pandemic.

cpa 92

cpa institute of chartered accountants Government chartered accountant 92

SMBAccountant

JULY 29, 2020

Budgets may be the most artful part of accounting. Government contractors have an even harder and more dire concern when it comes to cost plus contracts. Large variances between the budget and actual expenses can result in money owed to the contractor, or worse, money owed back to the government. The other issue is timing.

Government 100

Government Account accountant accounted 100

Cherry Bekaert

AUGUST 16, 2023

Studies show that the state and local government workforce has not returned to pre-COVID levels. Combine that with the shrinking pipeline of accountants, especially in the governmental realm, and many state and local governments are having to do more with less than ever before.

accounting and finance 52

accounting and finance Government Finance Account 52

SMBAccountant

SEPTEMBER 23, 2020

Most companies set a threshold in their accounting policies to avoid wasted time and effort on immaterial or low cost items. Be sure to talk with your accountant about what depreciation is recorded in your books. Fixed assets are recorded on the balance sheet. This can happen over a period of time.

Government 170

Government Account accountant accounted 170

LSLCPAs

FEBRUARY 7, 2024

As auditors, it’s important for us to stay on top of the latest accounting standards to ensure financial accuracy, reliability and compliance. For our clients, its even more important as the real-life implementations of new accounting standards isn’t always as easy as it may seem. GASB Statement No.

Government 59

Government auditor accounting standards cpas 59

Cherry Bekaert

SEPTEMBER 8, 2023

Americans’ trust in government has been on the decline for decades. In the 1960s, polling from the Pew Research Center showed that more than 70% of Americans believed the Federal Government would do the right thing “just about always.” Our nation’s success depends on restoring trust in its government institutions.

Government 98

Government Healthcare accounting and finance accounting firms 98

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.

Government 100

Government Account accountant accounted 100

CPA Practice

DECEMBER 14, 2023

Top 30 accounting firm Sikich said on Thursday it has agreed to acquire the federal government practice of top 10 accounting firm CliftonLarsonAllen (CLA), a move that will expand the Naperville, IL-based firm’s presence in the Washington, D.C. office after the transaction closes on Dec. Nuclear Regulatory Commission.

Government 59

Government Washington Transportation accounting firms 59

Going Concern

JANUARY 2, 2024

. — Lisa Savigano (@LSavigano) December 28, 2023 Ignition’s Asia-Pacific managing director David New explains why it’s time for accountants to raise their prices and bashes the antiquated billable hour while he’s at it (we love that): At its heart, accounting is a numbers profession. billion euros ($1.66

Government 61

Government Account accountant accounted 61

Accounting Insight

SEPTEMBER 14, 2023

ACCA commends FRC’s proposed changes as the accountancy body supports major overhaul of code in light of exponential change and disruption facing companies High quality corporate governance drives performance and accountability. These revisions should deliver more outcomes-based reporting.

Government 59

Government Account accountant accounted 59

SMBAccountant

NOVEMBER 4, 2020

Quality management and accounting systems go hand in hand, especially when it comes to managing government contracts. Accurate indirect rates and a quality accounting system are also valued by the customer. Certifications such as ISO:9001, can signal to future buyers that your company is committed to continuous improvement.

Government 100

Government Account accountant accounted 100

SMBAccountant

AUGUST 26, 2020

When a small business enters the world of government contracting, the risk associated with maintaining supporting documentation increases significantly. In addition, government contracts will not reimburse alcohol, so the itemized receipt is needed to show what was bought and alcohol must be recorded separately.

Government 100

Government Account accountant accounted 100

Accounting Today

NOVEMBER 8, 2023

The International Public Sector Accounting Standards Board has issued an accounting standard for governments around the world to use for reporting on retirement plans.

accounting standards 120

accounting standards Account accountant accounted 120

Accountant Advocate Submitted Articles

SEPTEMBER 26, 2022

Government contractors are required to follow certain accounting guidelines to maintain their standing.

Account 246

Account accountant accounted Government 246

SMBAccountant

SEPTEMBER 10, 2020

These are very important questions whether a company has government contracts or not. The purchase order and receiving report will be used by accounting or the person in charge of making payments to match to the invoice and ensure proper payment is made in agreement with the order. What proof do you have that a purchase was approved?

Government 100

Government Account accountant accounted 100

SMBAccountant

SEPTEMBER 10, 2020

These are very important questions whether a company has government contracts or not. The purchase order and receiving report will be used by accounting or the person in charge of making payments to match to the invoice and ensure proper payment is made in agreement with the order. What proof do you have that a purchase was approved?

Government 100

Government Account accountant accounted 100

SMBAccountant

AUGUST 26, 2020

When a small business enters the world of government contracting, the risk associated with maintaining supporting documentation increases significantly. In addition, government contracts will not reimburse alcohol, so the itemized receipt is needed to show what was bought and alcohol must be recorded separately.

Government 100

Government Account accountant accounted 100

Going Concern

JANUARY 8, 2024

Both the city and county utilize the services of Porter, Muirhead, Cornia and Howard (PMCH) — a certified public accountant based in Casper — for their audits. The firm works with the local governments to compile information for the audit throughout the year.

Wyoming 123

Wyoming audit Government Montana 123

LSLCPAs

FEBRUARY 14, 2024

It is another step in digitizing data coming on top of the Federal Funding Accountability and Transparency Act (FFATA) of 2006, the Data. The post The Federal Data Transparency Act and Your Local Government Agency appeared first on LSL CPAs.

Government 59

Government cpas fund accounting Account 59

Cherry Bekaert

SEPTEMBER 28, 2023

As the end of the fiscal year (FY) rapidly approaches in four days, and with no appropriations for FY 2024, government contractors should be planning for a shutdown that will interfere with services, payments and awards that were anticipated for future revenue. What Should Government Contractors Do? After The Shutdown, What’s Next?

Government 75

Government Account accountant accounted 75

Withum

FEBRUARY 15, 2022

As government contractors prepare to bid on a proposal for a governmental contract that requires an adequate accounting system, a pre-approval known as a “pre-award survey” (Form “SF1408”) assesses the adequacy of a government contractor’s accounting system prior to the award of a cost-reimbursable contract.

accounting system 72

accounting system Government Account accountant 72

Cherry Bekaert

FEBRUARY 13, 2024

Governmental Accounting Standards Board (GASB) Statement No. 100, Accounting Changes and Error Corrections, an amendment of GASB Statement No. This accounting pronouncement is intended to streamline the reporting of accounting changes and error corrections, as well as the related disclosures in governmental financial reporting.

Account 96

Account accountant accounted accounting principles 96

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 80

Technology Account accountant accounted 80