Strategies for Indirect Cost Recovery for Fixed Price Government Contractors
By Paul Calabrese, Principal Government contracts come in various forms, each with its own set of rules and requirements. Critical to a contractor’s financial health, indirect costs are treated differently in fixed-price contracts compared to cost-reimbursable contracts. While fixed-price contractors may not face the same disclosure and cost build-up demands as their cost-reimbursable counterparts, they…
Update on DCAA Current Initiatives
Are you in the loop when it comes to the latest guidance issued by DCAA? Join GRF Principal of Outsourced Accounting & Advisory Services and GovCon expert, Paul Calabrese, who will review DCAA’s current guidance on audit procedures including incurred cost proposals, business systems and defective pricing. The session will also cover the contractor submission…
Winning the Financial Game: Your Playbook for SAS 145 and CECL Implementation
The Auditing Standards Board of the American Institute of CPAs, has released a new auditing standard that will impact nonprofits, private companies, and governmental entities. Statement on Auditing Standards (SAS) 145: Audit Evidence is effective for audits of financial statements for periods ending on or after December 15, 2022. In other words, SAS 145 will…
2023 National 8(a) Association Conference Trends
This premier annual conference provides education and supplier diversity networking for small businesses. This year’s event was held at the Hyatt Regency New Orleans from February 13 through 15 and was sold-out. Clearly, many small businesses are ready to travel again for in-person events! In addition to making introductions to federal agencies and prime contractors,…
Meet the Implementation Deadline for the New Lease Accounting Standard
After a delay due to the pandemic, the effective date for private and not-for-profit entities to comply with ASU 2016-02 (Topic 842) was January 1, 2022. Have you complied with the new standard? Are you ready? For many private companies and nonprofits, the answer is “no”. While you are not alone, the time is now…