Episode 065 | Navigating Opportunities, Challenges and Compliance for Government Contractors

Doing business with the country’s largest customer (the federal government) comes with requirements, opportunities and challenges that other organizations simply don’t have. So, what does it take to be truly successful as a government contractor?  

In this episode of The Wrap, Amber Stout, CPA, Jared Sharp, CPA and Todd McAdams, CPA, CGMA, MACC join our hosts to discuss the nuances of leading organizations to financial and compliance success in the government contracting industry. 

After listening to this episode, you’ll:

• Be familiar with the opportunities and challenges that are unique to the government contracting industry
• Understand how research and development expenses are capitalized and amortized—and one important nuance for government contractors
• Know the basic information you’ll need to provide to meet the unique reporting requirements in this industry
• Understand what really makes a “DCAA-approved” accounting system
• Know a few of the most common tax and business mistakes contractors make—and how to avoid them

Resources for additional information:

• Blog: A Business’s Guide to R&D Expense Capitalization and Amortization Changes
• Guide: DCAA Compliance: A Comprehensive Guide for Government Contractors
• Blog: How Can A Small Business Ensure DCAA Compliance?
• Blog: What Is Included in a DCAA Compliant Indirect Rate Calculation?
• Blog: Why A DCAA Compliant Chart of Accounts Should Be Your System’s Foundation
• Blog: What Are the Benefits of DCAA Compliance Consulting?
• Blog: Don’t Ignore These DCAA Accounting Policies and Procedures
• Blog: Tips for Protecting your Government Contracting Business with QuickBooks DCAA Compliance
• Blog: Three Broad Issues a DCAA Audit Can Uncover for Government Contractors
• Blog: A DCAA Compliance Checklist for Government Contractors
• Blog: Five Steps to DCAA Timesheet Compliance for Government Contractors
• Blog: How to Identify an Adequate Accounting System for Government Contracts [12 Important Elements]
• Blog: Determining the Best Accounting Software for Small Government Contractors
• Blog: Business Process Optimization: 5 Ways to Improve Your Systems and Processes