Overhead versus G&A Indirect Costs Is there an important difference between a general and administrative (G&A) expense and an overhead (OH) expense? Do these indirect costs really matter? The answer is yes if you want to remain a government contractor…
Read MoreAre Legal Costs Allowable or Unallowable for Government Contractors?
Are Legal Costs Allowable or Unallowable for Government Contractors? One of the most ambiguous things that a government contractor or their accountant has to deal with when making accounting entries is the allowability of legal fees and costs. The rules regarding…
Read MoreEnd of the Year Accounting Checklist
One of the things that you will need to do for your business at the end of the year is to close the books. If they have been kept up with the accounting practices throughout the preceding months, this shouldn’t be too…
Read MoreHow to Survive an Audit
Just the idea of being audited by the IRS strikes fear into the hearts of most small business owners. Some peace of mind should be found in the fact that audits are pretty rare for one simple reason: money. The…
Read MoreTechnologyChanged Accounting
The accounting industry has changed dramatically over time with advances in technology. While we may immediately think of the computer, the first real improvements in accounting technology took place several decades ago when numbers no longer needed to be added by hand. After…
Read More5 Myths About the Value of Your Business
Owning a business is hard work and it’s common for business owners to wonder how much their company is worth. Whether you are thinking about selling your business or not, have an offer on the table or are merely curious,…
Read MorePublic Relations & Advertising Costs – Allowable or Unallowable?
Many companies incur advertising and public relations costs. For the government contractor, the complication comes in determining whether these costs are allowable under the Federal Acquisition Regulations (FAR). The basic rule of thumb is if it is related to benefiting the government,…
Read MoreAccountants as an Expert Witness
An expert witness is someone who by virtue of training, skill, education or experience is believed to have knowledge or expertise in a certain subject beyond an average person. This knowledge makes the person eligible to be a witness in…
Read MoreGovernment Contract Accounting
In order to be successful it is highly recommended, government contractors must work closely with their accounting firm in order to verify reports, procedures, policies, and timekeeping to make sure they are compliant with contract requirements. It is essential for your organization to…
Read MoreFinancial Statement Fraud Red Flags
Over the last several years, the number of cases related to financial statement fraud has experienced a gradual increase. In fact, according to a recent Cornerstone Research report, Accounting Class Action Filings and Settlements—2014 Review and Analysis, shows the SEC has a heightened…
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