Withum

FEBRUARY 13, 2024

Government contracting can be a lucrative venture for businesses, but it comes with a host of regulatory and financial responsibilities. One of the critical elements in managing government contracts is the Incurred Cost Proposal (ICP) submissions. These costs can be directly traced to a single cost objective.

Government 80

Government audit accounting standards cost accounting 80

CPA Practice

FEBRUARY 13, 2023

Cost accounting and inventory management: This includes standard cost systems, activity-based costing, and cost-volume-profit analysis, among others. It’s essential for companies to effectively manage their inventory costs and control the manufacturing process. Here’s what it came up with.

Account 140

Account accounted accountant international accounting standards 140

Cherry Bekaert

JUNE 27, 2024

In Part 1 of our series on Contractor Business Systems, we explore the requirements for a government-approved adequate accounting system as outlined in DFARS 252.242-7006 and required by Federal Acquisition Regulation (FAR) 16.301-3 in the award of a cost-reimbursable type contract.

accounting system 52

accounting system Government audit accountant 52

Cherry Bekaert

MAY 9, 2024

For many architecture and engineering (A&E) firms, overhead rate audits are a critical aspect of financial management since they can be a great way for firms to recoup incurred costs necessary to run their business from the government. Overhead rate audits can put you in a better position to win contracts.

audit 115

audit auditor Transportation Government 115

Accounting Seed

MARCH 29, 2023

Download the guide » The post Understanding Accounting Software and DCAA Compliance appeared first on Accounting Seed.

accounting software 52

accounting software Account accountant accounted 52

Withum

MARCH 29, 2023

An adequate business system is based on the extent in which the overall system allows the organization to comply with regulations, adhere to internal control frameworks such as the Integrated Internal Controls Framework issued by the Committee of Sponsoring Organizations (COSO) and/or Standards for Internal Control in the Federal Government.

Non-Profits 69

Non-Profits Government accounting system accounting standards 69

Cherry Bekaert

JULY 29, 2024

Contributor: Jacquelin LaClair Contractor Business Systems are an important aspect of government contracting, and the estimating system is one of the key systems that contractors need to focus on. During the source selection process, the government may award points to contractors who have an established and approved estimating system.

audit 52

audit Government accounting system accounting standards 52

Going Concern

JANUARY 27, 2023

She added that government employees serving the national interest would be more inclined to act ethically and without conflicts. 9 focusing on its financial and cost accounting controls, it said Thursday in its 10-K. Over 30 SCAD graduates are now employed by Deloitte as UX designers, service designers, media creators, and more.

auditor 111

auditor accounting firms accounted Account 111