Remove Accountability Remove Internal Control Remove Participation
article thumbnail

Mastering Accounting for Unallowable Costs: A Guide to CAS 405 Compliance

Public Contracting Institute

Introduction to CAS 405 and Unallowable Costs In the complex world of government contracting, understanding and properly accounting for unallowable costs as per Cost Accounting Standard (CAS) 405 is crucial for success. Documenting Unallowable Costs: Best Practices Proper documentation is key to demonstrating compliance with CAS 405.

article thumbnail

Cost Accounting Standards - What Contractors Need to Know

Capital Edge Consulting

Two Quick Ways to Fail DCAA T imekeeping Requirements The federal government is the biggest purchaser of goods and services, so it's important that you have a good grip on your accounting practices. DCAA’s position, as in other cost accounting practices, is that “if it isn’t documented, it didn’t happen.”

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Cost Accounting Standards Guide and CAS Requirements for Government Contractors

Capital Edge Consulting

Two Quick Ways to Fail DCAA T imekeeping Requirements The federal government is the biggest purchaser of goods and services, so it's important that you have a good grip on your accounting practices. DCAA’s position, as in other cost accounting practices, is that “if it isn’t documented, it didn’t happen.”

article thumbnail

Application of Cost Accounting Standards to Indefinite Delivery Vehicles

Capital Edge Consulting

Two Quick Ways to Fail DCAA T imekeeping Requirements The federal government is the biggest purchaser of goods and services, so it's important that you have a good grip on your accounting practices. DCAA’s position, as in other cost accounting practices, is that “if it isn’t documented, it didn’t happen.”

article thumbnail

Conformance of CAS to U.S. GAAP for Operating Revenue and Lease Accounting

Capital Edge Consulting

Two Quick Ways to Fail DCAA T imekeeping Requirements The federal government is the biggest purchaser of goods and services, so it's important that you have a good grip on your accounting practices. DCAA’s position, as in other cost accounting practices, is that “if it isn’t documented, it didn’t happen.”

article thumbnail

Retired four-star admiral faces 30 years in prison on bribery charges

Federal News Network

A new report from the Pandemic Responsibility and Accountability Committee (PRAC), said agencies that took three broad steps, such as preparing for an emergency by maintaining a crisis-ready staff, were better prepared to limit improper payments during the COVID-19 emergency.

article thumbnail

Application of CAS to Indefinite Delivery Vehicles (IDVs)

Capital Edge Consulting

Two Quick Ways to Fail DCAA T imekeeping Requirements The federal government is the biggest purchaser of goods and services, so it's important that you have a good grip on your accounting practices. DCAA’s position, as in other cost accounting practices, is that “if it isn’t documented, it didn’t happen.”