Common Accounting Mistakes: Government Edition - Issue #7 Accounting for Fixed Price vs Cost Contracts
SMBAccountant
OCTOBER 7, 2020
Whether the SBIR/STTR that’s being worked is a grant through the National Science Foundation (NSF) or a federal contract, there is an oversight agency, such as the Defense Contract Audit Agency (DCAA) for Department of Defense (DOD) contracts, that will review the adequacy of a contractor’s accounting system prior to a phase II award.
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