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 ...

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 ...

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 ...

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 ...

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 ...

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 ...