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Accounting systems, policies and procedures make up a critical component of government contract management. To win and keep profitable federal contracts, businesses must show compliance with federal accounting regulations. Effective government contract accounting rests on a foundation of Generally Accepted Accounting Principles used by almost every business. Starting with a solid GAAP framework makes compliance…

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What is NIST 800-171? The NIST (National Institute of Standards and Technology) 800-171 is a federal regulation that was issued Dec 1, 2016 to help control the safety and security of CUI that resides in nonfederal systems. What is CUI? Controlled unclassified information, also known as CUI, is federally released, non-military data including personally identifying…

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I know many of you struggled (or are struggling) with growing pains in your business – it’s often one of the many reasons we are called, to help our clients get to things they don’t have time to do. Recently, we’ve experienced that pain ourselves. The pain of becoming successful. The positive side: new clients,…

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The Financial Accounting Standards Board (FASB) identified leases as an item of concern on financial statements. Until recently, companies were not required to report most leases on their balance sheet which resulted in “off-balance sheet financing.” The long-term nature of leases and their use as a financing tool meant that companies have long-term commitments (liabilities),…

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Many government contractors will need to submit an Incurred Cost Proposal. It is up to your business to make sure you do one and you do it right. Here are some common questions businesses have when it comes to preparing a proposal. Do I need to submit an Incurred Cost Proposal? You will need to…

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NCMA Dayton hosted “Small Business & Government Relations” as part of it’s monthly Bagels & Business series. Panelists: Tom Krusemark, Procurement Center Representative, Small Business Administration Dave London, Chief Operating Officer, Tridec Technologies Bill Cox, Procurement Specialist, Procurement Technical Assistance Center Michael Bridges, President, Peerless Technologies Bill Cox’s opening statement to small businesses “You need…

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Question In your discussion of intellectual property in government contracts, you talked about government purpose rights and how you negotiated with the government for your client to keep the background technology but allow the government to own the form factor.  Where both the contractor and the government contribute funding, the parties are left to negotiate…

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One of the most common topics we address with clients is their billing rate structure. The conversations tend to start in one of two ways. The first relates to a real or perceived competitive pricing issue. The second relates to an accounting system (software) upgrade. In both cases, we train clients how to properly structure…

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Each year brings about new budgets and new National Defense Authorization Acts (NDAA). NDAAs address funding, strategic plans, and rules affecting the defense acquisition process. NDAA 2018 is no exception and here are the highlights regarding cost, price, and accounting. The NDAA 2018 raises the thresholds for a number of procurement regulations reflecting a recognition…

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Each year brings about new budgets and new National Defense Authorization Acts (NDAA). NDAAs address funding, strategic plans, and rules affecting the defense acquisition process. NDAA 2018 is no exception and here are the highlights regarding cost, price, and accounting. The NDAA includes a number of provisions that reinforce the Congress’ commitment to the acquisition…

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