For government contractors, compliance with the Truthful Cost or Pricing Data Act (TINA) is a critical part of staying on the right side of federal contracting and acquisition requirements. But what is the law, and what does it do? Here’s a brief primer.
The federal government is, by law, exempt from paying state and local taxes. However, this exemption does not apply to organizations with federal or state government contracts, [...]
The costs of labor, especially in service-oriented companies is the most sensitive area of incurred cost that the Defense Contract Audit Agency (DCAA) is required [...]
A large number of small companies and even some considered large have historically not concerned themselves with the allowability of their executive’s compensation. With annual allowability [...]
If you have proposed on or been awarded a contract with the Federal government, and especially with the Department of Defense, you probably have been the recipient of a visit from the Defense Contract Audit Agency (DCAA). While these visits to perform a multitude of audits and evaluations are not the end of the world, they should be taken and reacted to seriously.
FAR 44.101 defines a subcontractor as “Any supplier, distributor, vendor, or firm that furnishes supplies or services to, or for, a prime contractor or another [...]
To emphasize the need for compliant policies and procedures we need to refer to a quote from the great Yogi Berra, “If you don’t know [...]
ASU Issued: The Financial Accounting Standards Board (FASB) issued ASU 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), [...]
Many organizations have the misguided belief that all Marketing/Sales Department expenses are unallowable and exclude them entirely from their allocation of indirect costs. This is not [...]
Contractors that have a facility clearance through the Department of Defense’s Defense Security Service (DSS) must have a written plan in place for the implementation of [...]
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