Going Concern

APRIL 9, 2025

PwC put out a PDF in March: Accounting implications of tariffs.

accounting and finance

Going Concern

MAY 9, 2025

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.

Pennsylvania

CPA Practice

AUGUST 12, 2025

companies, the source of more than half of the country’s job creation in recent years, are struggling to comply with President Donald Trump’s new tariffs and cope with growing financial strains clobbering them from higher import costs. Businesses Paying Trump Tariffs Face a $202 Billion Hit Small U.S.

Technology

CPA Practice

AUGUST 12, 2025

companies, the source of more than half of the country’s job creation in recent years, are struggling to comply with President Donald Trump’s new tariffs and cope with growing financial strains clobbering them from higher import costs. Businesses Paying Trump Tariffs Face a $202 Billion Hit Small U.S.

Technology

GrowthForceBlog

OCTOBER 2, 2024

Key Takeaways The Benefits of Cost Accounting: The primary benefits of cost accounting include maximized profits, reduced costs, optimized pricing, stronger profit margins, revenue generation. Understanding the Cost Accounting Methods: A variety of different methods exist within the cost accounting principles.

cost accounting

Cherry Bekaert

NOVEMBER 6, 2023

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

accounting standards

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

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.

accounting standards

GrowthForceBlog

OCTOBER 14, 2021

Spoiler alert: Both cost accounting and management accounting are intended for internal use by business leaders. 5 min read. Smart leaders use it to improve organization operations and boost the bottom line.

cost accounting

Accounting Today

SEPTEMBER 8, 2022

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cost accounting

Lockstep

OCTOBER 19, 2022

In Part I Email Blunders That Cost Accountants Time and Money of this series, we took a look at some of the most common email blunders that can cost accountants time and money. In Part II, we’ll take a look at some more email blunders that can trip up even the most experienced accounting teams.

cost accounting

Cherry Bekaert

AUGUST 22, 2024

Contributor: John Ford In June 2024, the Cost Accounting Standards Board (CASB) published three significant actions in the Federal Register. Contact Us The post Recent Cost Accounting Standards Board Proposed Rules appeared first on Cherry Bekaert.

accounting standards

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.

accounting standards

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. Moreover, some of the cost principles in FAR Part 31 incorporate specific standards. Table of Contents: What Are Cost Accounting Standards? Why Does CAS Exist?

accounting standards

Lockstep

OCTOBER 12, 2022

In this three-part blog series, we’ll take a look at some of the biggest email blunders that can cost accountants time and money. Part 1: Email Blunders That Cost Accountants Time and Money. One of the biggest email blunders that can cost accountants time and money is sending information to the wrong customer.

cost accounting

Basis 365

MAY 11, 2023

Cost accounting is essential to running a business, as it helps companies identify and understand their costs, expenses, and profitability. By tracking costs, companies can make informed decisions about pricing, product development, and resource allocation. What is Cost Accounting?

cost accounting

SMBAccountant

DECEMBER 2, 2020

Many small business government contractors are exempt from complying with cost accounting standards (CAS) and defined by the code of federal regulations (CFR). However, compliance with generally accepted accounting principles (GAAP) is required. What exactly is GAAP?

Government

SMBAccountant

NOVEMBER 19, 2020

As part of any cost accounting management system, rates are determined in order to apply costs that are not directly related to a product or service. Direct costs are expenses directly associated with a product or service. Indirect rates are not exclusive to government contractors.

Government

PYMNTS

OCTOBER 7, 2020

SWIFT’s [Society for Worldwide Interbank Financial Telecommunication] new service offers the possibility of borderless low-cost account-to-account currency transfers from the bank’s own app or portal, and Oracle Banking Payments’ readiness makes this transition easy and fast for SMEs.”. The subsidiary of Oracle Corp.

cost accounting

CPA Practice

SEPTEMBER 23, 2024

You can also calculate your projected salary variance by region or city using Atrium’s guide: Data courtesy of Atrium.

public accounting

AccountingDepartment

NOVEMBER 2, 2021

Cost accounting methods help business leaders make wise pricing decisions. There are two basic costing systems that help you identify all direct and indirect expenses so you can make well-informed pricing decisions: the traditional costing system and the activity-based costing system.

cost accounting

SMBAccountant

DECEMBER 21, 2022

Forensic accountants research financial transactions to uncover fraud. Managerial accountants work to collect and compile data used to make management decisions. Tax accountants specialize in IRS law and completion of tax returns. Cost accountants deal in allocating costs expenses to specific products, jobs, contracts, etc.

bookkeeping

Going Concern

APRIL 25, 2024

For accountants under some categories — Chartered and certified accountants Accountant (qualified), Auditor (qualified), Chartered accountant, Company accountant, Cost accountant (qualified), Financial controller (qualified accountant), and Management accountant (qualified) — the standard going rate is now £46,800 ($58k) or £24.00 ($30) (..)

chartered accountant

CPA Practice

MAY 7, 2023

147 ensured that these critical costs incurred by cannabusinesses be classified as deductibles for income tax purposes. However, this means that these entrepreneurs must be diligent in their cost accounting or risk leaving deductions on the table – or worse – taking wrongful deductions that can have consequences for your business.

Tax

CPA Practice

JANUARY 25, 2023

The firm’s offerings include estate taxation and administration, trust funding and administration, tax preparation, tax planning, IRS representation, tax cost accounting, fiduciary accounting, and asset consolidation and simplification.

Massachusetts

Going Concern

AUGUST 5, 2022

IMA representatives are welcome to argue the case for extensive cost accounting testing if they are so inclined. Am I the only one who was butthurt when they took written communication out of FAR, AUD, and REG?? The comment section is open, let ‘er rip.

CPA

SMBAccountant

NOVEMBER 19, 2020

As part of any cost accounting management system, rates are determined in order to apply costs that are not directly related to a product or service. Direct costs are expenses directly associated with a product or service. Indirect rates are not exclusive to government contractors.

Government

Basis 365

FEBRUARY 1, 2023

What is an accountant? Non-controller accountants generally perform more straightforward accounting tasks than controllers. These responsibilities include internal reports, cost accounting, tax auditing, and cost accounting.

accountant

Going Concern

SEPTEMBER 26, 2024

And contains cost accounting which so many people struggle with. If you don’t know, BAR is FAR’s slightly less intimidating cousin. So of course candidates didn’t kill it on BAR. In the webinar, Joe added that he thinks TCP pass rates will go down over time as things normalize.

CPA

CPA Practice

OCTOBER 31, 2024

By Jim Wesloh Navigating the challenging landscape of cost accounting within the framework of federal contracting requires an understanding of both the Federal Acquisition Regulation (FAR) and Generally Accepted Accounting Principles (GAAP). A sample chart of accounts for government contractors is available to download below.)

accountant

PANALITIX

MAY 31, 2021

Cost Accounting. Commercial Finance. To help leadership analyze the operational performance of their business (product success, customer behavior etc.) and take action to increase profit. To prepare budgets, analyze and recommend on expenses such as labor, materials, shipping and production to maximize efficiency and profitability.

accountant

CPA Practice

JUNE 19, 2024

Here are the specific practices that underpin timekeeping compliance and accountability in government contracting: Timekeeping mandate Work authorizations Authentication and timesheet integrity Daily recording of labor Audit trails for time entries Employee certification and supervisor approval Supervisor completion of timesheets General ledger integration (..)

Government

Going Concern

JULY 1, 2022

Hunzicker recommends approaching the cannabis niche with a broad knowledge base, including a full understanding of “cannabis science, medicinal uses, software tools, and business operations, then layer in accounting — GAAP, cost accounting, the tax codes and the court cases.”

cpas

Accounting Today

JULY 24, 2023

The federal contractor reached one of the largest procurement fraud settlements in history over a civil investigation related to its cost accounting.

cost accounting

CPA Practice

AUGUST 9, 2024

Inside their strong job costing the owner is an ex cost accountant when he bought this company, he improved the the good cost accounting that was in there, but really went for a lot of different costing attributes and did a great, but they saw an opportunity in payroll.

payroll

CPA Practice

SEPTEMBER 11, 2024

These services scale IT infrastructure to help accountants speed up accounting services, manage the workforce, adhere to global compliances, and lower operational costs. Accounting firms can no longer overlook the benefits of this partnership as they can miss out on many efficiency gains.

accounting firms

AccountingDepartment

DECEMBER 28, 2021

Accountants often specialize in different areas such as taxes, financial statements, payroll, inventory, cost accounting, DCAA compliance, and more. Small accounting teams are forced to choose what expertise they value the most while knowing that they’re making compromises in hiring.

accountant