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What Are The Cost Accounting Standards?

Capital Edge Consulting

In government contracting, maintaining a DCAA-approved accounting system is crucial. The Defense Contract Audit Agency (DCAA) enforces strict guidelines to ensure that contractors accounting systems meet the standards required for compliance. Key Takeaways: Overview of DCAA Approved Accounting System essentials.

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Coming to a contract protest near you, loser pays legal fees

Federal News Network

It calls on the Defense Department and the Government Accountability Office to develop a plan to test a novel idea: having companies that lose bid protests to repay DoD for legal costs. It’s always around 2,000 or so out of the how many hundreds of thousands or millions of contract actions the government takes in a given year.

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Tab for access: How New York City is increasing participation and access to government contracts

Open Contracting Partnership

Each year, New York City spends over $30 billion a year on public contracts to deliver essential good and services to its eight million residents. The team at the Mayor’s Office of Contract Services (MOCS) have a vision for a more open, transparent and inclusive procurement process. states or indeed many countries.

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Cost Accounting Standard (CAS) 411 – Accounting for Acquisition of Material Cost

Redstone Government Consulting

CAS 411 provides criteria for accounting for the measurement and assignment of material costs to cost objectives and follows generally accepted accounting principles (GAAP). If you don’t have contracts subject to full CAS, then FAR 31.205-26 Material costs requires contractors to implement GAAP when accounting for material.

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DoD’s multi-billion dollar moving contract faces another legal challenge

Federal News Network

billion Global Household Goods contract (GHC) are unusual too, and justify the sort of late-in-the-day legal claim that courts typically frown on. Suit alleges CICA violations The suit asks the Court of Federal Claims to terminate the GHC contract and order U.S. But the plaintiffs argue the circumstances surrounding the militarys $17.9

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Does a Government Contract Require a Change to My Accounting?

Redstone Government Consulting

Any company receiving a government contract for the first time will have lots of questions and changes to their operations as a result of that contract. The question is, will the accounting structure and approach to the company’s accounting practices have to change?

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Accounting software keeps small business out of federal market

Federal News Network

Interview Transcript: Tom Temin For someone that went through the trouble of finding government opportunities, deciding they want to do this and then bidding and winning, what should they have in place already to be able to fulfill a contract that is unique and different from what is normally expected in the private sector? Tom Temin Sure.