Assurance
Total Time Accounting and Uncompensated Overtime
Without a total time accounting policy, a Federal contractor leaves the door wide open for the possibility of DCAA disallowing…
Understanding Contributed Services
Contributed services are professional services that have been donated by someone outside of your organization with specialized skills — such…
GAAP Accounting for Third Party Reimbursements: Contributions vs. Exchange Transactions
U.S. GAAP accounting for Federal government grants might seem straightforward after the adoption of ASU 2018-08–Clarifying The Scope And Accounting…
Guidance Released for the Government Contractor Vaccine Mandate
President Biden’s Executive Order (EO) 14042 requires Federal Government contractors to implement certain measures designed to combat the COVID-19 pandemic…
Agency Transactions
According to US GAAP, an agency transaction is a transaction in which the reporting organization acts as an agent, trustee…
How the New ASC 606 and ASC 340 Guidance Impacts SaaS Companies
ASC 606 and ASC 340 at a glance: Schedule a free consultation to learn more. ASC 606 and ASC 340 –…
What are Donor-Imposed Conditions?
Donors can impose two different types of stipulations on contributions provided to nonprofits, restrictions and conditions. While donor-imposed restrictions specify…
Extension of Single Audit Filing Deadlines
On March 19, 2021, the Office of Management and Budget (OMB) released Memorandum M-21-20, Promoting the Public Trust in the…
Increase in Micropurchase Threshold Available Under Certain Qualifications
Under Uniform Guidance procurement guidelines, there is a concept of a micro-purchase threshold under which price analysis or comparison is…
The System for Award Management Integration with beta.SAM.gov
The General Services Administration (GSA) has been working to modernize its systems by merging several legacy systems into beta.SAM.gov. The…