CPA Practice

OCTOBER 31, 2024

17, found that many of the 250 respondents —from accountants, bookkeepers, and directors of finance to business owners as well as managers—consider keeping up with changing sales tax laws to be their biggest compliance challenge. “At The survey, which was conducted from Oct.

Sales 116

Sales Tax accounting and finance bookkeeping 116

Xero

MARCH 19, 2025

The UK government has launched a consultation on eInvoicing , an initiative that has the potential to revolutionise how we handle invoices, and bring significant benefits to businesses and the economy. Regardless of the method, your customer usually has to manually enter the data into their accounting system. What is eInvoicing?

Government 89

Government accounting system Tax Account 89

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

Withum

JULY 23, 2024

The Defense Federal Acquisition Regulation Supplement (DFARS) outlines specific requirements for contractors’ accounting systems. These systems play a crucial role in ensuring accurate financial reporting, compliance with regulations, and effective cost management. What Is an Accounting System?

accounting system 59

accounting system general ledger Account accounted 59

Withum

JANUARY 30, 2025

AICPA Audits are for the audit of private companies, not-for-profit organizations, and smaller government entities. These audits are governed by Generally Accepted Auditing Standards (GAAS) and focus on the accuracy of financial statements. PCAOB Audits are required for publicly traded companies and entities registered with the SEC.

audit 100

audit financial statements auditor accounting principles 100

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?

accounting system 52

accounting system Government audit Account 52

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 Account 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 accounted accountant 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 accounted accountant 100

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 75

Government accounting system Account accountant 75

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. Both situations are not ideal and interrupt cash flow, which is critical for small businesses.

Government 100

Government Account accounted accountant 100

Acterys

FEBRUARY 11, 2025

Data Governance: Use role-based access controls, version tracking, and audit trails to ensure data integrity while maintaining transparency. Why It Matters: Compliance with organizational data governance policies. User-friendly Controls : Interact with data through familiar Power BI visuals without needing additional tools.

Approval Workflows 130

Approval Workflows audit Government B2B 130

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. This type of contract requires detailed tracking of costs.

Account 100

Account accounted accountant accrual accounting 100

CPA Practice

NOVEMBER 11, 2024

Validis : With notable improvements in financial statement ingestion, the ability to read financials from all accounting systems, and a preliminary partnership with Suralink , this audit support product may be the most improved year over year. TeamMate : Provides a suite of audit management and analytics tools.

accounting firms 111

accounting firms Technology Account accounted 111

Ronika Khanna CPA,CA

AUGUST 13, 2024

This is a transcript from my YouTube Video on 5 Reasons Why Your Business Needs Accounting System Hello everyone! Today, I want to dive into a crucial topic for small business owners: accounting systems. So, what exactly is an accounting system?

accounting system 52

accounting system Account accounted accountant 52

AccountingDepartment

JANUARY 13, 2021

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Government 92

Government Account accounted accountant 92

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 105

Technology Account accounted accountant 105

Cherry Bekaert

NOVEMBER 6, 2023

If you have any questions specific to your situation, our GovCon consultants are available to discuss your situation with you.

accounting standards 110

accounting standards cost accounting Account accounted 110

AccountingDepartment

MAY 9, 2024

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 105

Technology NetSuite Account accounted 105

Cherry Bekaert

JUNE 25, 2024

Contributors: Jeffrey Annessa , Artan Ivezaj Government contracts often come with specific requirements, conditions and regulations. Among those regulations are the Cost Accounting Standards (CAS), which are one of the most common challenges faced by emerging government contractors.

accounting standards 52

accounting standards cost accounting Government Account 52

CPA Practice

OCTOBER 31, 2024

We attempt to clarify these classifications and provide actionable insights for structuring an accounting system that aligns with both GAAP and FAR guidelines. We recommend following the convention outlined below for the first character for a government contractor’s chart of accounts. Liabilities 3. Owners’ equity 4.

Account 121

Account accounted accountant Government 121

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 accounted 105

Martin Quinn

MARCH 15, 2021

Many governments are helping/have helped businesses during the last year since Covid 19 appeared on the scene. I would imagine from both the perspective of a business needing help, and from a government perspective, keeping this simple is key. Some such costs are imposed by government (e.g. Photo by Gabby K on Pexels.com.

Government 52

Government accounting system Tax accounted 52

Cherry Bekaert

JUNE 27, 2023

We guide contractors in developing and maintaining compliant business systems, performing systems assessments, providing audit support and preparing contractors for audits or reviews by the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA) or other cognizant agencies.

audit 98

audit accounting system Government Start-ups 98

Withum

MAY 15, 2024

Bidding on government contracts requires meticulous preparation, a deep understanding of the procurement process, and the ability to navigate the complexities of government requirements. Contractors must be patient, resourceful, and ready to adapt to the evolving landscape of government needs and regulations.

Government 52

Government Non-Profits audit CPA 52

Cherry Bekaert

DECEMBER 5, 2023

In this episode of Cherry Bekaert’s GovCon Podcast series on the Small Business Administration’s (SBA) 8(a) Business Development Program, Brynn McNeil and Craig Hunter , assurance partners in Cherry Bekaert’s Government Contracting Industry practice, discuss accounting best practices for 8(a) companies.

Account 97

Account accountant accounted accounting system 97

AccountingDepartment

MARCH 4, 2021

Things can move quickly in the world of government contracting and having a strong accounting department to back you up during those times to rapid growth is crucial to making the process smooth and ensuring DCAA compliance of your overall accounting system.

Account 75

Account accounted accountant accounting system 75

TaxConnex

JUNE 9, 2022

New York local government sales tax collections grew 21.1%, or $901 million, in 1Q22 compared with the same period last year, according to the state comptroller. The taxpayer, a bank, purchased computerized services that maintained the accounting system and services on a real-time basis. Texas sales tax revenue totaled $3.83

Sales 246

Sales Tax Colorado Massachusetts 246

Acterys

JUNE 21, 2024

Government Contractors Our Rapid Results Pack (RRP) for Government Contractors is tailored to meet the specific needs of organizations that engage in government contracting. By using this template, local governments can better prepare for budget fluctuations, policy changes, and community needs.

Hospitality 130

Hospitality Agriculture Government accounting and finance 130

Cherry Bekaert

SEPTEMBER 20, 2023

Architectural & Engineering (A&E) firms that propose or work on government contracts may be required to have an adequate system review.

audit 99

audit accounting system Government Tax 99

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. Contact us today.

accounting standards 64

accounting standards cost accounting Account accounted 64

Withum

JANUARY 23, 2025

Government Recording & Transfer Charges Depending on the type of loan used, buyers may incur various fees, such as recording fees and quit claim deed charges. If you need accounting and finance support, contact our Outsourced Accounting Systems and Services Team. These charges are generally the buyers responsibility.

Real Estate 52

Real Estate accounting and finance Finance Sales 52

xendoo

MARCH 4, 2022

Many ecommerce owners understand the importance of making sales, but do you know how to record ecommerce sales for your accounting system? However, it can be challenging to set up an ecommerce bookkeeping system. Businesses remit sales tax to the local or state government within the specified period.

Sales 105

Sales bookkeeping Account accounted 105

Xero

APRIL 4, 2023

After developing this new wheel with the help of government research funding, Shark Wheel is ready to develop the idea further together with Bridgestone-Firestone. Our agriculture wheel was actually funded by the US government in three grants through the National Science Foundation,” says Zack Fleishman, Shark Wheel CEO.

Agriculture 111

Agriculture bookkeeping Sales California 111

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?

audit 74

audit Government accounting system Account 74

Accounting Seed

MAY 1, 2025

Previously, their accounting systems were completely outsourced, taking 60 days (sometimes more) to see a financial statement. As a nonprofit with heavy reliance on government funding, not being able to see, in real-time, if they were under or over budget was a critical component for being financially resourceful and secure.

bookkeeping software 52

bookkeeping software bookkeeping accounting and finance accounting software 52

Cherry Bekaert

JANUARY 25, 2023

Earned Value Management Systems (EVMS) is the standard for DoD (Department of Defense) Earned Value Management System Programs and Defense Federal Acquisition Regulation Supplement (DFARS) 252.234-7001 Notice of Earned Value Management System.

audit 75

audit Government accounting system Account 75