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What Are The Cost Accounting Standards?

Capital Edge Consulting

In government contracting, maintaining a DCAA-approved accounting system is crucial. Understanding these requirements not only helps in securing government contracts but also in avoiding costly penalties or contract termination. Importance of maintaining compliance with DCAA for government contracts.

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Small Business Reality vs. DCAA Accounting System Expectations

Redstone Government Consulting

Every small business that receives a Federal Government cost reimbursable contract is expected, by the Defense Contract Audit Agency (DCAA), to have a “sound internal control environment, accounting framework, and organizational structure.”

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New OCI Rule Contains Big Changes

SmallGovCon

” “A contractor is providing services to an agency related to national security or foreign policy matters, but that contractor is also providing similar services to a foreign government or other foreign entity (e.g., ” Use of “structural or behavioral barriers, internal controls, or both.”

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Security flaws in IRS systems pose risk to financial statements, GAO says

FedScoop

A handful of security deficiencies in IRS information systems elevate the tax agency’s risk of inaccuracies in financial statements, the Government Accountability Office said Thursday. The post Security flaws in IRS systems pose risk to financial statements, GAO says appeared first on FedScoop.

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

Government Contracts & Investigations

Welcome back to the Cost Corner, where we provide practical insight into the complex cost and pricing requirements that apply to Government Contractors. 4] TINA is intended to “level the playing field” by providing Government negotiators the same cost or pricing data available to contractors.

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Whistleblower Receives $1.2 Million for Alleging Violations of FCC Rules

Whistleblower Network News

The government alleges that Armstrong Group knowingly violated the Federal Communications Commission’s (FCC) rules for the High-Cost Program and submitted improper costs to inflate the subsidies received from the federal Universal Service Fund (USF). million to settle False Claims Act accusations.

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Paperless Innovations to Offer Actus Platform to Federal Agencies via MAS Contract Financial Management SIN

ExecutiveBiz

Federal agencies can now buy Actus , a cloud-based government purchase card management platform from Paperless Innovations , using a special item number under the General Services Administration’s Multiple Award Schedule contract.