How to Keep A Positive Cash Flow Up While Waiting for a Payment Congratulations! Your company has just been awarded a government contract. You have accomplished the first step toward a successful business. Now the company needs to deliver the…
Read MoreICS Schedules Explained
ICS Schedules Explained Have you seen all the schedules on an Incurred Cost Submission (ICS)?! The ICS seems to never end. Why are there so many schedules and what do they do? Before explaining all these schedules, a quick review…
Read MoreIndirect Costs and Billing Rates
Indirect Costs and Billing Rates For government contractors there is a considerable amount of emphasis on indirect costs. The Federal Acquisition Regulations (FAR) provides the parameters for grouping these costs. Per FAR 31.203(c), “logical cost groupings” are for indirect costs….
Read MoreFAR Compliance in QB
How to Maintain FAR Compliance in QB One of the areas of concern to government contractors is meeting the requirements for bookkeeping under Federal Acquisition Regulations (FAR). While the Defense Contract Audit Agency (DCAA) does NOT approve or recommend any…
Read MoreFAR: Government Contracting Mystery
Government Contracting Mystery The world of government contracting is often a mystery for those looking in from the civilian world. Many wonder what DCAA and FAR are. To clear up some of the mystery, here are answers to some common…
Read MoreMore Unallowable Costs
More Unallowable Costs Government contractors must adhere to the Federal Acquisition Regulation (FAR), which provides businesses the guidelines on contract procurement. Under FAR, there are costs that are not billable to the government, such as, organizational costs, fines and penalties,…
Read MoreAllowable or Unallowable?
Allowable or Unallowable? Most business owners try to avoid nondeductible expenses for tax purposes per the Internal Revenue Service (IRS) rules. Government contractors take this a step further by avoiding unallowable costs as per Federal Acquisition Regulations (FAR). What makes…
Read MoreHow Can the HUBZone Help?
How Can the HUBZone Help? The world of government contracting can be a difficult world to establish a new business, especially a small business. This has been addressed through the ‘Small Business Reauthorization Act of 1997’. As a result, the…
Read MoreDCAA Compliance Checklist
DCAA Compliance Checklist For government contractors, it is extremely important to be Defense Contract Audit Agency (DCAA) compliant. Now that tax season is almost over, government contractors should take some time to make sure they are DCAA compliant. Below is…
Read MoreAllowable Travel Costs
Allowable Travel Costs Federal Acquisition Regulations (FAR) If a government contractor incurs business travel costs, then all the costs should be fully allowable, right? Not necessarily, the Defense Contract Audit Agency (DCAA) provides guidance on allowable travel expenses in the…
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