Remove Document Remove Government Contracts Remove Internal Control
article thumbnail

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. Importance of maintaining compliance with DCAA for government contracts.

article thumbnail

Government Contracts Cost and Pricing: The Truth in Negotiations Act, or Whatever the Kids Are Calling It These Days (Part 3)

Government Contracts & Investigations

Deliver cost or pricing data to the contracting officer even if it was previously delivered to other Government representatives ( e.g. , auditors, negotiators, price analysts, technical representatives). Implement policies, procedures, and internal controls. Establish adequate policies, procedures, and internal controls.

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

Mastering Inflation: Navigating Fixed-Price Economic Price Adjustments in Government Contracts

Capital Edge Consulting

Labor is among the largest contract cost recorded to Government contracts. In many cases, they are the most significant; therefore, the Government invests significant efforts to monitoring these costs and auditing them. Employee Training DCAA will audit training content and documented attendance.

Price 52
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

What is Enterprise BI? Everything You Need to Know

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. Importance of maintaining compliance with DCAA for government contracts.

article thumbnail

Understanding the Importance of a DCAA Approved Accounting System

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. Importance of maintaining compliance with DCAA for government contracts.

article thumbnail

What new White House guidance on grants means for agencies that hand them out

Federal News Network

And government contractors will sometimes participate in the federal grant space, either as contractors or as recipients or sub recipients. And increasingly, the federal grant in assistance space is becoming subject to more requirements that start to look like government contracts. So there’s a lot of money.