U.S. Generally Accepted Accounting Principles (GAAP), as codified in the Accounting Standards Codification, does not provide one, all-inclusive general standard on revenue recognition that applies across the board to all transactions and entities. Companies follow various subtopics in the Codification or industry specific standards to [..Read More..]
How to Prepare for a Contractor Purchasing System Review (CPSR)
According to DFARS, there are 6 contractor systems subject to determination of adequacy. Three of which, the DCAA is responsible for auditing: Accounting, Cost Estimating, and Materials Management & Accounting System (MMAS). And the other three, the DCMA performs the reviews: Earned Value Management System [..Read More..]
The Future is Bright in the Cloud: 7 Things You Should Expect From Your ERP Software.
You cannot escape the responsibility of tomorrow by evading it today.” – Abraham Lincoln Expectations have become higher for the CFO and CIO positions within organizations, in particular when selecting ERP software that will become the foundation of the business. When the competition is armed [..Read More..]
Partner Spotlight: Success in the Federal Market with BidSpeed and GSA Focus
Federal buyers are tasked to buy goods and services but are obligated to follow a complex law-book (called the Federal Acquisition Regulations). This governs their decisions and puts their career at tremendous risk. GSA Contracts were developed to cut the red-tape and allow federal buyers [..Read More..]
How To Win and Manage a Federal Government Contract
According to Forbes, government contracts are not as lucrative for small businesses as one might think. About 22.5% of federal contracts go to small businesses. Therefore, knowing the capabilities of your company is the first thing that must be considered before attempting to respond to [..Read More..]
