For government contractors, understanding the distinctions between various contract types and knowing how to navigate their unique requirements is essential for success. Firm Fixed Price (FFP), Time & Materials (T&M), and Cost-Type contracts each present different challenges and opportunities. This…
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Key Reports for Government Contractors: A Guide to Compliance and Success Government contracting offers immense opportunities for businesses, but it comes with strict reporting requirements. These reports ensure transparency, accountability, and compliance with government regulations. Whether you’re new to government contracting or a…
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Leveling Up: When to Add a Controller or CFO to Your Growing Business As your business grows, so do your financial responsibilities. While a basic accounting team can manage day-to-day bookkeeping, payroll, and taxes, there comes a time when more…
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Navigating the intricacies of government contracting can be daunting, especially when it comes to understanding compliance requirements like the DCAA pre-award audit. The Defense Contract Audit Agency (DCAA) plays a crucial role in ensuring that government contractors adhere to federal…
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In today’s fast-paced business environment, managing finances effectively is crucial for the success of any organization. An efficient accounting system is not just a luxury; it’s a necessity. Choosing an accounting system that aligns with your business needs can make…
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Embrace the future of finance in your small business by implementing these six crucial processes. Transform real-time data into actionable insights and watch your business thrive. Introduction to the Power of Real-Time Data in Small Businesses In the fast-paced world…
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Controller vs CFO, which one suits your business needs? Your business might be growing to the point where it has come time for an investment beyond a regular staff accountant and/or bookkeeper. Perhaps you need someone who can help your company? Prepare for its…
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Key Reasons Small Businesses Should Have Strategic Planning Running a small business comes with many challenges. With limited resources, tight budgets, and increasing competition, every decision becomes vital. This is where strategic planning becomes crucial. A well-thought-out strategic plan acts as a roadmap to success. It helps to guide business…
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Navigating the world of federal contracting involves more than just managing budget. It also requires a keen understanding of what expenses can and cannot be reimbursed. Unallowable costs are those expenditures that federal agencies will not cover, as defined by…
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Unlocking the Power of FP&A: Why Small Businesses Can’t Afford to Miss Out FP&A and its importance for small businesses: In the hustle and bustle of running a small business, it’s easy to overlook the finer details of financial planning and analysis…
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