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Six Business Systems

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? In the world of government contracting, most people think of DCAA-approved accounting systems. There are a few misnomers in that statement: DCAA does not approve…

Is Your Government Property Management System Up to Par?

What is Government property? Government property is defined in FAR 45 and means all property owned or leased by the Government. Government property includes both Government-furnished property (GFP) and contractor-acquired property (CAP). Government property includes material, equipment, special tooling, special test equipment, and real property. Government property does not include intellectual property and software. Government…

5 Steps to a Bullet-Proof Chart of Accounts

Follow FAR Part 31 Eliminate the “low-hanging fruit” Consistency Be sure to check out my presentation “Implementing a FAR Part 31 Compliant Cost Accounting System.”