Issue 23 – How Meaningful Financial Information Can Significantly Improve Financial Performance
As the global business environment becomes more competitive, companies are constantly seeking fresh ways to reduce costs by streamlining their finance and accounting process.
Government contracting organizations need to ensure ongoing Defense Contract Audit Agency (DCAA) compliance. One component to that is the efficient tracking of time and expenses and reliable project management reporting.
You’ve completed a job or a task order in a contract and issued an invoice to your client. At what point can you mark the revenue as recognized in your books?
For government contractors, the type of contract can significantly affect your approach to bidding on an RFP and your strategy for performing the work. The most common contract types are Time and Materials (T&M), Firm Fixed Price (FFP), and Cost Reimbursement Type (CRT).