Government Contractors
Why a Government Contracting CPA Is an Important Partner for Your Business
Federal contracting can be a highly rewarding market, but it is also one of the most complicated. With FAR (Federal Acquisition Regulation) and DCAA (Defense Contract Audit Agency ) audits, indirect rate structures, and strict cost allowability rules, financial missteps are not just expensive; they are potentially business-threatening. That is why a specialized partner, a…
Read MoreMaximizing Cash Flow Management for Government Contractors
Government contracts may provide reliable revenue, but they are also known for long payment cycles, strict invoicing rules, and narrow cash margins. To succeed, contractors must think beyond compliance and focus on the financial planning strategies that support operational sustainability. That means proactively managing cash flow not just to survive, but to thrive. Strategic cash…
Read MoreWhat You Need to Prepare for GovCon Incurred Cost: A Guide from a Government Contracts CPA
When it comes to government contracting, one of the most misunderstood and anxiety-inducing responsibilities is the preparation and submission of the Incurred Cost Submission (ICS). Required by FAR 52.216-7, this detailed package must be submitted annually by contractors with cost-reimbursement contracts, and it forms the basis for settling final indirect rates and contract costs with…
Read MoreTax Implications of Government Contract Types: Choosing the Right Fit for Your Business
When it comes to government contracting, the type of contract you choose can significantly influence your business’s tax obligations, financial reporting, and overall profitability. When securing contracts, understanding the tax implications of each government contract type is critical. Making informed decisions about contract structures can optimize tax efficiency, minimize liabilities, and improve compliance with government…
Read MoreThe GovCon’s Guide to DCAA Incurred Cost Submissions
For government contractors operating under cost-reimbursable or time-and-material (T&M) contracts, DCAA Incurred Cost Submissions (ICS) are more than just an annual requirement—they’re a critical component of maintaining compliance and securing timely reimbursements. A well-prepared Incurred Cost Proposal (ICP) not only ensures adherence to Federal Acquisition Regulation (FAR) Part 52.216-7, but also positions your company for…
Read MoreWhy You Need a Government Contracts CPA to Work on Your Government Contracting Business Taxes
Taxes are an essential element of financial planning for any business, but when it comes to government contracting, the stakes are significantly higher. The interplay of federal regulations, cost accounting standards, and tax codes requires specialized expertise to ensure compliance and optimize financial performance. A Government Contracts CPA (Certified Public Accountant) helps contractors meet these…
Read MoreWhy is Using a Government Contracts Accountant Important?
Government contracting introduces unique financial and regulatory challenges that can overwhelm even experienced businesses. Ensuring compliance, managing costs, and navigating federal requirements often requires specialized knowledge. The right expertise can transform these challenges into strategic opportunities for sustainable revenue growth and help avoid costly missteps. A Government Contracts Accountant (GCA) plays a pivotal role in…
Read MoreUnderstanding How to Bid on Government Contracts: A Guide for Government Contractors
The process of bidding on government contracts can be both challenging and rewarding for contractors. With the potential for lucrative and stable revenue streams, understanding the intricacies of government contracting is essential. Successful government contractors follow key steps and strategies to submit winning bids on government contracts. Why Bid on Government Contracts? Bidding on government…
Read MoreList of the Best DCAA Approved and Compliant Accounting Software Systems
[Updated March 2025] Government contracting success requires more than just industry knowledge and competitive bidding. To remain compliant and thrive, government contractors need a robust accounting system that meets the stringent standards set by the Defense Contract Audit Agency (DCAA). Selecting the right accounting software ensures compliance, manages costs, and positions your business for long-term…
Read MoreA Complete Government Contract Compliance Checklist: A Guideline for Success
In the government contracting sector, compliance is not just a requirement but a competitive advantage. Adhering to the complex web of regulations, standards, and requirements is essential for securing and maintaining lucrative contracts. Government contractors must be vigilant, ensuring every aspect of their operations aligns with regulatory expectations. This comprehensive checklist will help government contractors…
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