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Government Contract Accounting

Laying a Foundation for Government Contract Accounting

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…

Understanding NIST 800-171 and what it means for Government Contractors

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…

The Impact of Lease Changes on Government Contractors

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…

Allowable Rental Costs

We often receive questions regarding the amount of allowable rental costs between related parties. Rental costs are normally allowable to the extent they are reasonable and allocable. In an effort…

SF1408 Accounting System Review

Has your prime or contracting officer told you that you need an approved or adequate accounting system before your next award? What exactly is an approved or adequate accounting system?…

Increased Profit Margins On Government Contracts

What are your current profit margins on government contracts? Are you still bidding a fee of 6% to 10%? Many contractors think they must accept low profit margins on government…