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The Basics of Government Contract Accounting

Government Contract Accounting (GCA) is the maintenance of an organization's official financial books and accounting records, its policies, and procedures, all of which facilitate the tracking of, reporting on, and billing for, all costs, for any government contract, in accordance with the Federal Acquisition Regulation (FAR).  In order to meet
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What is Total Time Accounting, or Total Time Reporting?

Labor cost is an important element of project cost accounting, not only for the professional services industry, but for manufacturing and other industries. The US government requires that cost be allocated fairly and equitably across a company's various cost objectives, in reasonable proportion to the benefit accruing to them. A
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10 Keys to Evaluating DCAA Compliant Accounting Software

What are the 10 keys to Evaluating DCAA Compliant Accounting Software? Let's approach this on a question and answer basis. Q: Who is the DCAA? A: The DCAA is the Defense Contract Audit Agency. It was established as a separate agency of the Department of Defense in July 1965 and
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Government Compliance in SAP

The issue of accounting system compliance does not completely revolve around the software itself. Certainly a key consideration is the functionality and capability of the software employed, but even more important is the network of practices and procedures required for compliance. And most important of all are the internal control
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