article thumbnail

Does My Accounting Software Meet DCAA Compliance?

Accounting Seed

Instead, DCAA audits check if your organization meets: Federal Acquisition Regulation (FAR) Cost Accounting Standards (CAS) And other government rules. You must verify your financial management meets DCAA standards regarding financial data security and accountability.

article thumbnail

Friday Footnotes: Modernizing CPA Requirements in Pennsylvania; Master’s Degrees Are Hot Again; Don’t Dog the PCAOB | 5.9.25

Going Concern

The bill will modernize the licensure process in Pennsylvania, which Hutchinson and Pisciottano say will address the evolving needs of the accounting profession. FASB to issue final ASU on software cost accounting [ KPMG ] FASB completes redeliberations on software cost accounting changes and directs staff to draft final ASU.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Cost Accounting Standard Considerations for a Growing GovCon

Cherry Bekaert

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

article thumbnail

Cost Accounting Standards (CAS): A Comprehensive Overview for Government Contractors

Cherry Bekaert

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.

article thumbnail

Cost Accounting Standards—General Dollar Magnitude vs. Detailed Cost Impacts

Cherry Bekaert

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.

article thumbnail

The Difference between Bookkeeping and Accounting

SMBAccountant

There are different types of accountants which specialize in different areas. Auditors provide opinions on the accuracy and reasonableness of financial statements. Forensic accountants research financial transactions to uncover fraud. Managerial accountants work to collect and compile data used to make management decisions.

article thumbnail

KPMG Was Too Cheap to Pay Foreign Graduates More So They Yanked All Their Job Offers

Going Concern

But not accountants.