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Preaward Survey Failures– Part 2

Top 5 failures in a Preaward Survey Part 2 of 2-part series In part 1 of this series, we identified the top 5 epic fails of the preaward survey as involving the labor distribution, policies and procedures, generally accepted accounting principles (GAAP), segregation...

Preaward Survey Failures– Part 1

Top 5 failures in a Preaward Survey Part 1 of 2-part series The preaward accounting system survey or audit (better known as preaward survey) is an evaluation on the prospective contractor’s accounting system.  It is documented on SF 1408.  This evaluation ascertains...

End 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 difficult to accomplish. However, there are...

How 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 IRS doesn’t have the budget to audit everyone and...