Government contracts are a high-stakes arena where financial compliance and risk management play critical roles. With stringent regulations, audits, and oversight, finance professionals must ensure compliance while mitigating risks that could jeopardize contracts or lead to severe penalties. This article delves…
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In today’s fast-paced business environment, managing a company’s finances is more critical than ever. Accurate accounting is essential not only for compliance but also for strategic decision-making. However, many businesses, especially small and medium-sized enterprises (SMEs), struggle to maintain a full-fledged in-house accounting team. That’s where…
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Provisional billing rates are a crucial element of financial management for government contractors, yet they can be complex and misunderstood. Whether you’re new to government contracting or looking to refine your processes, understanding provisional billing rates is essential for accurate cost recovery and compliance with federal…
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In the fast-paced world of accounting, businesses are constantly looking for ways to monitor their financial health, make informed decisions, and improve their operations. One of the most effective ways to achieve these goals is by using Key Performance Indicators (KPIs). KPIs for accounting are…
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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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