Compliance Blog

What growing businesses need to know about DCAA accounting system compliance
Why Budgeting is Important in Contracting
A well-managed budgeting process is particularly important for government contractors. It provides a financial blueprint for the new year, establishes a plan for recovery of indirect costs through contract pricing, and establishes support for provisional indirect rate proposals.
DCAA Compliance using ICAT with QuickBooks
ICAT enables a Government Contractor using QuickBooks® to set up a DCAA Compliant accounting system, and meet the requirements imposed by the Federal Acquisition Regulation (FAR) and Defense Federal Acquisition Regulation Supplement (DFARS).
Understanding Indirect Rates: Cost Accounting
Understanding the nuances of Indirect Rates will help government contractors better manage contracts and their business as a whole. In part 1 of a 3 part series, we’ll define Indirect Rates and explain how they are used in Cost Accounting.
Understanding Indirect Rates: Contract Pricing
Understanding the nuances of Indirect Rates will help government contractors better manage contracts and their business as a whole. Part 2 of our 3 part series on Indirect Rates examines the role of Prospective Indirect Rates in Contract Pricing.
Understanding Indirect Rates: Billing
Understanding the nuances of Indirect Rates will help government contractors better manage contracts and their business as a whole. Part 3 in our series on Indirect Rates reviews the role of Indirect Rates in Contract Billing, including Provisional Indirect Rates and Indirect Rate Variances.
Overcoming FAR Accounting System Challenges
One of the toughest challenges small and medium-sized federal contractors face is setting up and implementing an accounting system that satisfies requirements imposed by the Federal Acquisition Regulation. What do you need to know and how can you be prepared to meet these challenges, and even a government audit?
5 Fundamentals for Understanding DCAA Accounting System Compliance
For many growing businesses, setting up a DCAA compliant accounting system can be daunting. Small business government contractors must develop policy & procedure statements, organize the cost pool structure into the chart of accounts, set up timekeeping, configure the labor distribution process, and manage indirect rate calculation, indirect cost allocation, and job cost reporting. Understanding a few fundamental points can help small businesses more confidently manage their contract accounting.
Categories: Accounting Compliance