Posts Tagged ‘government contract accounting’
The 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…
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