What You Need to Know About DCAA and FAR Compliance DCAA stands for Defense Contract Audit Agency, while FAR stands for Federal Acquisition Regulation. Both DCAA and FAR are critical components of government contracting, and compliance with them is necessary…Read More
Financial Ratios As a business owner financial data is something you have become all too familiar with. Every month you take the necessary steps to ensure your financial data is current and accurate. First, you enter the data entry into…Read More
Are CPA’s Solely Tax Gurus?
Are CPA’s Solely Tax Gurus? Certified Public Accountants (CPA) are highly trained people, specializing in accounting. They took the time to earn a professional designation by meeting several requirements. The conditions they met include passing the CPA exam, their level…Read More
How Accounting Plays a Role in Strategic Planning
How Accounting Plays a Role in Strategic Planning As the business world changes, so too must the accountant’s role. Accounting plays a crucial role in strategic planning as it helps organizations make informed decisions based on financial data and insights….Read More
Who Needs an Incurred Cost Submission?
Who Needs an Incurred Cost Submission? It is a few weeks into the new year, and you finally feel like you can breathe again. Your business’ financial statements are done, and your taxes are in progress. For the foreseeable future,…Read More
Are Employee Gifts Taxable?
Are Employee Gifts Taxable? As a business owner, giving employees gifts and other fringe benefits is something that you are familiar with. Every year you may like to give holiday bonuses or give a gift to each employee on their…Read More
Employee Retention Credit
Employee Retention Credit Over the last few years, the COVID-19 pandemic did not discriminate against the businesses it has affected. Whether large or small, businesses were forced to reduce their operations. In some cases, they had to shut down completely….Read More
Key Performance Indicators
Key Performance Indicators Key performance indicators (KPIs) are performance measurements that determine how well a business is achieving its objectives. KPIs evaluate the success of a business and they often differ amongst industries. They help to determine a business’ strategic,…Read More
8(a) Business Development Program
8(a) Business Development Program As a government contractor, the road to success is not always easy, but is well worth it. The industry offers opportunities for growth to businesses of any size. As a small business though, there are programs…Read More
Benefits of a Virtual CFO
Benefits of a Virtual CFO Gone are the days where large businesses, with what seems like infinite funds, are the only ones needing CFOs. Most businesses, regardless of size, can benefit from the expertise of a CFO. They can guide…Read More