The term ‘kickback’ is defined by Public Law 99-634 as any money, fee, commission, credit, gift, gratuity, thing of value, or compensation of any kind which is provided directly or indirectly, to any prime contractor...
As the COVID-19 pandemic continues with no real end in sight the performance of traditional on-site audits by DCAA becomes a significant safety issue.
The recent cancellation of the General Services Administration (GSA) $15Billion Alliant 2 Small Business (A2SB) contract highlights the need for small government contractors to have a properly evaluated cost accounting system.
The government is increasingly placing emphasis on compliance with the False Claims Act (FCA) and the Truth in Negotiations Act (TINA) currently known as the Truthful Cost or Pricing Act.
As a government contractor, you are tasked with continuing contract performance under the risks of uncertain and constantly changing circumstances.
Good allocation practices can provide a better understanding of the "true" cost of your products and services, allowing you to become more competitive, better utilize your available assets and facilitate your management decision making process.
In 2014, the Financial Accounting Standards Board (FASB) issued new guidance, ASU 2014-09, Revenue from Contracts with Customers.
Construction is considered to be an essential industry in many states, but as the impact from the coronavirus deepens, the industry’s ability to weather this storm continues to be threatened.
Most companies have found that offering incentive bonuses or awards is a good way to obtain and retain good employees.
Many government contractors start with firm-fixed-price contracts and do well, but at some point they are lured by the possibility of being awarded a cost-type fixed-fee contract that is too tempting to pass up.