Menzies

JULY 3, 2025

Menzies LLP - A leading chartered accountancy firm. The Financial Reporting Council (FRC) has announced significant amendments to FRS 102, the UK’s principal accounting standard for small and medium-sized entities. Consider Early Adoption: For some businesses, early adoption may provide strategic or operational benefits.

Hospitality 52

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Accounting Seed

MAY 1, 2025

Previously, their accounting systems were completely outsourced, taking 60 days (sometimes more) to see a financial statement. Compliance & nonprofit accounting standards: Stay aligned with nonprofit regulations like FASB, GAAP, and IRS 990. Reduce risk with customizable workflows that reduce manual work.

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Cherry Bekaert

NOVEMBER 6, 2023

Contact Us The post Cost Accounting Standard Considerations for a Growing GovCon appeared first on Cherry Bekaert.

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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.

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Cherry Bekaert

JULY 30, 2024

In the fourth episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran , a Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa , a Senior Manager in the Firm’s Government Contracting practice.

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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

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Cherry Bekaert

JUNE 25, 2024

Among those regulations are the Cost Accounting Standards (CAS), which are one of the most common challenges faced by emerging government contractors. Compliance with CAS is a contractual obligation, and failure to adhere to these standards can result in financial penalties, contract adjustments and contract termination.

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Accounting Seed

DECEMBER 5, 2022

Changing accounting systems can feel intimidating. Even if the legacy accounting system you currently use doesn’t have the features, speed, or power you need, at least it’s familiar. Sometimes though, the benefits of switching to new software begins to outweigh the cost of learning a new system.

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Cherry Bekaert

JUNE 27, 2024

If significant system deficiencies are identified and not corrected, the DoD can impose substantial consequences, such as withholding a percentage of payment or deeming a contractor ineligible to submit bids. Table of Contents: What Are the Requirements for an Adequate Accounting System?

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GrowthForceBlog

MAY 22, 2023

Key Takeaways Meeting Basic Financial Accounting Standards: Business accounting and reporting standards can vary somewhat from industry to industry, state to state, and country to country, depending on differing regulatory requirements… Minimize Manual Processes: Making mistakes is only human, and that's why (when it comes to bookkeeping and accounting (..)

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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 accounting principles accountant accounted 100

inDinero Tax Tips

FEBRUARY 22, 2023

For an executive or business owner, keeping up to date with accounting regulations is low on the to-do list. However, you should make an exception for “Accounting Standards Codification Topic 606: Revenue from Contracts with Customer” often referred to as ‘ASC 606’ or ‘FASB ASC 606’ What Is ASC 606?

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Anders CPA

JULY 6, 2022

One of those being the accounting involved in combining businesses. To help simplify purchase accounting for business combinations involving private companies, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-18 back in December 2014.

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Withum

DECEMBER 19, 2023

Financial System Implementation: Begin by establishing a robust accounting system that accurately tracks revenue, expenses, and inventory. Cloud-based accounting software, like QuickBooks or Xero, can streamline financial record-keeping and facilitate auditing processes.

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inDinero Accounting

JUNE 29, 2023

The history of GAAP dates back to 1929 when the Committee on Accounting Procedure was founded by the American Institute of Accountants and tasked with developing uniform accounting standards. Additional resources are required in order to ensure that all financial reports comply with GAAP principles.

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Withum

MARCH 29, 2023

As a result, you may be subject to cost accounting standards and acceptable business systems. Compliance is critical for government contractors, and implementing the best practices for business systems is essential for success in this industry.

Non-Profits 69

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Airbase

NOVEMBER 15, 2023

At its most narrow, these steps include invoice verification, processing and approval, issuing payments to suppliers or vendors, and recording the payments in the accounting system. Comply with accounting standards and regulations for AP processing. The importance and evolution of accounts payable.

AP Automation 130

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Cherry Bekaert

FEBRUARY 23, 2024

Examine Financial Records Access financial records related to the ARPA funding, including records from an accounting system, grant management system, payroll system, purchasing system, etc. Identify the terms and conditions and specific requirements related to obligations. Treasury Portal.

Government 75

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Accounting Seed

JANUARY 4, 2023

Even in the 21st century, it’s still possible to do your bookkeeping with paper spreadsheets or account books. If manual accounting works for you, nobody can force you to change. Accounting standards are the same whether you use ledgers or laptops. What is a Manual Accounting System?

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Accounting Seed

MARCH 17, 2022

The foreign currency accounting standard guides how you must do this. Accounting for Foreign Exchange. centric — no overseas customers, employees or vendors — foreign exchange accounting isn’t anything you have to worry about. GAAP Rules for Foreign Exchange Accounting. What is Cash Disbursement in Accounting?

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Basis 365

JULY 21, 2023

Service-based businesses, such as marketing agencies or management consultants, face several accounting issues that are unique to their industry. The overall accounting issue revolves around the matching of project-related revenue with the corresponding costs.

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Baruch Lev

JULY 11, 2021

The Wall Street Journal reported (July 1, 2021) that the International Accounting Standards Board (IASB), the accounting body that sets the financial reporting rules of public companies in more than 140 jurisdictions ? So, accounting standard-setters have their work cut out for them. but not in the U.S. —

accountant 40

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Shay CPA

OCTOBER 25, 2023

Under Accounting Standards Update 2017-11 from the Financial Accounting Standards Board (FASB), you don’t necessarily always need to classify financial instruments with down round features as liabilities. Things can get complicated when it comes to recording shares with down round protection on your books.

Tax 52

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inDinero Tax Tips

FEBRUARY 22, 2023

For an executive or business owner, keeping up to date with accounting regulations is low on the to-do list. However, you should make an exception for “Accounting Standards Codification Topic 606: Revenue from Contracts with Customer” often referred to as ‘ASC 606’ or ‘FASB ASC 606’ What Is ASC 606?

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MineralTree

OCTOBER 5, 2023

Ensuring that the AP function is properly integrated into the month-end close process is essential for accurate financial reporting and compliance with accounting standards. Getting Invoices Posted Invoices need to be accurately recorded in the accounting system.

AP Automation 76

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Cherry Bekaert

JULY 29, 2024

The Cost Accounting Standards (CAS) also come into play if a contractor is CAS-covered. When Should a Contractor Consider a Cost Estimating System? The government is looking for training across the different functions involved in estimating, documented basis of estimates, consistency, rate analysis and forward pricing.

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Accounting Seed

JULY 21, 2022

If you fail to set up a robust and scalable accounting system from day one, your business will suffer from financial errors, poor planning, growing pains, and a high potential for failure. On the flipside, if you get your accounting set up properly from the start, you’ll set your new company up for success. Cash Or Accrual?

accrual accounting 52

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Anders CPA

FEBRUARY 28, 2024

Effective Accounting Creates Sustainable Transportation Businesses Surviving in the transportation industry as a small business owner or owner-operator has never been more challenging than it is today.

Transportation 59

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Accounting Seed

MARCH 8, 2023

Recognizing revenue at the wrong trigger point in accordance with accounting standards. As a solution built using accounting principles and standards, Accounting Seed helps eliminate these risks through automation and configuration—so much so that Meyer doesn’t even need to think about the process.

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