Indirect Costs: Overhead vs G&A

Indirect Costs: Overhead vs G&A As a government contractor, have you ever sat there and thought to yourself, ‘Gee it would be so much easier not having to worry about the allocation of all my business’ costs?’ Surely, you are…

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Why Budgets are Important for Businesses

  Mention the word budget to most business owners, and instantly their hands become clammy. Budgets often get a bad rap because planning one can be a tedious task. However, the benefits of a budget, far out-weigh, the dread many…

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Working Capital & Liabilities

Working capital is the difference between a company’s current assets and its current liabilities.  Current assets include cash, inventory, receivables, and other assets which are expected to be turned into cash within one (1) year. Current liabilities include accounts payable, loans…

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Payroll Expenses & Job Cost Allocations

  Payroll allocation is important for government contractors because government contractors must follow special FAR guidelines in their accounting. The Federal Acquisition Regulation, or FAR, are regulations that set the rules that the Government and Government Contractors must follow when government contracts are offered. The purpose of the FAR are to set policies when conducting procurement process. The results of these rules provide a transparent, fair, efficient and impartial contract which provides best value…

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The New Lease Standard

The New FASB Lease Standard Year-end finally feels like a distant memory, and you can breathe again. Do not get too comfortable though. As one door closes, another opens… the new lease standards. You remember hearing about the new lease…

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Year End Financial Check 2021

It’s that time of year again, and no, I’m not talking about holidays. It’s that time of year when you need to start thinking about closing the books, preparing annual financial statements, and filing tax returns. Year end is when…

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Cash Flow Statement

Cash Flow Statement Money is essential to any business. Many decisions a business makes often includes the topic of money and funding. Whether a business wants to expand and hire more personnel, or it wants to develop a new product,…

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Accounting Firm: Finding The One

Each year, as your business grows, management of accounting tasks gets trickier. Business priorities shift, whether due to outside factors or your own needs. Sometimes, it can feel like a great weight to handle everything on your own. When this…

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Accounting Reports You Should Review

Your small business is chugging along. You’re making sales, securing contracts, and keeping up with your day-to-day management. What you probably make less time for is reviewing your accounting reports. Of course, most business owners prefer to spend their time…

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