Posts Tagged ‘Compliance’
What is an Adequate Accounting System for Contract Proposals?
Summary of Keypoints An adequate accounting system is foundational to government contract success: It supports compliance, audit readiness, accurate cost proposals, financial transparency, and strengthens competitiveness during the bidding process. Compliance and cost accuracy are primary objectives: The system must meet FAR and DCAA standards, precisely track and allocate direct and indirect costs, and support…
Read MoreCompliance as a Growth Driver: Accounting for Commercial and Government Funded Contracts
Summary of Keypoints R&D-focused companies often rely on both commercial and federal funding, which creates complex accounting and compliance obligations under GAAP, IRS rules, and federal regulations tied to how the funding is awarded. Federal funding compliance varies by mechanism: Grants and cooperative agreements are governed by 2 CFR Part 200, with strict requirements around…
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