Tax Planning – It’s Not Too Late Yet

If you are a cash method taxpayer, you should have started your year-end tax planning by now. It is sad when business owners call after the end of the year and they have received very bad news from their tax accountants. Once the year has ended, there is little you ...
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When Price Trumps Perfection: 5 Lessons Learned from LPTA Contracts

It’s a heated debate that shows no signs of cooling—do the lowest price technically acceptable (LPTA) contracts encourage reasonable pricing or drive down quality? There are valid points on both sides. But, the most crucial factor is whether an LPTA award boosts or jeopardizes your firm’s profitability. LPTA Defined As the name ...
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3 Reasons to Revisit Your Accounting System Every Year (and What to Check!)

Regular checkups are essential to good health. That goes for your business as much as your body. When it comes to how well your company functions, your accounting system is the brains of your operation. The right system gives you easy access to the data necessary for wise decisions about ...
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7 Dos and Don’ts to Avoid Common Accounting Mistakes

How important is an accurate, up-to-date accounting system in the world of government contracting? So important that your approach to financial management can give you an enormous advantage over your competition. The reason why can be summed up in one word: compliance. US government accounting standards for govcons are significantly ...
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Thirsty for a DCAA Audit Update? Hydration is a No-Go

Despite ongoing clarification updates, the task of sorting allowable/unallowable costs continues to be a tricky navigation for government contractors subject to Defense Contract Audit Agency (DCAA) accounting rules under Federal Acquisition Regulation (FAR) 31. DCAA is responsible for reviewing govcon's accounting systems, policies, and procedures to ensure the government pays ...
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Picture This: How to Use Visuals to Bring Your KPIs to Life

It’s a scientific fact—the right visuals can enliven a discussion of otherwise dense financial data and increase audience comprehension. It’s simply hardwired into the human brain. Read on to learn how to identify your key performance indicators (KPIs) and match them with the right visualizations to convey their impact on ...
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