Articles

Lessons from Lease Accounting Standards

By | Accounting and Advisory, Articles, News | No Comments

The US Financial Accounting Standards Board (FASB) new lease accounting standards has brought about many questions for companies that outsource production or logistics, including manufacturers and distributors. Here are some of the key considerations in evaluating supply arrangements to identify any contractual relationships. These relationships can impact bookkeeping and financial…

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Spring Cleaning: Vulnerability Analysis Discovers Risk Controls for Data Security

By | Articles, Audit and Attest, Government Consulting, News | No Comments

For businesses that serve government entities and departments, the National Institute of Standards of Technology (NIST) implemented sweeping changes to standards on data security compliance at the end of 2017. But very few companies are in compliance, and when the government enforces these standards it may be too late to…

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Preparing Incurred Cost Submission for Government Contracting Financial Reporting

By | Articles, Government Consulting, News | No Comments

Government contractors that enter into cost reimbursement or time and materials (T&M) contracts may need to submit an incurred cost submission (ICS) to the Defense Contract Audit Agency (DCAA). Small businesses and subcontractors can clarify this process by working with an accounting firm experienced in government contracting financial reporting like…

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