PWCPA Blog
What to Expect from an IRS Audit
Simply hearing the word “audit” can be enough to put a knot in the pit of your stomach. But the good news is, an audit from the IRS probably won’t be nearly as difficult as you think it will be. In fact, if you’re a government contractor, you’ve probably dealt with...
Direct and Indirect Costs in Government Contract Accounting
One of the biggest issues in Government Contract Accounting is the identification and segregation of costs. It’s a make or break separation that is at the core of Government Contracting. These are fairly simple but can get rather confusing and must be as natural to...
What is the DCAA? How do I comply with DCAA?
Back in the '50s, each branch of the military handled its own contracts and its own accounting. This was a veritable mess as the country went through a lot of wars at this time. We needed one agency to provide standardized audits for the Department of Defense. The...
Navigating the New Normal: Starting a Government Contracting Business Amidst Uncertainty
The year 2020 has presented unprecedented challenges with the COVID-19 pandemic, lockdowns, and the "New Normal" that has impacted all aspects of life. The world of business and economics has not been spared from the effects either. Layoffs have become widespread,...
4 Qualities Your Government Contract Accountant Should Have
No 2 snowflakes are ever the same. The person who proved that took 5,000 pictures of snowflakes. He was looking on the outside. Today's science tells us that there is an element in the air that makes his statement a fact. These scientists were looking from the inside....
6 Common Accounting Obstacles for Government Contractors
Welcome to the mountain of Government Contracting, we are glad you made the decision to climb up these steep slopes. You'll be trekking on a path only for the strong, the brave, and the immensely dedicated. Did you bring your hiking gear? Before you go on any further...
Reaping the Benefits of Cross-Training for Government Contractors
As a government contractor, you often encounter unexpected challenges that can disrupt your operations and hinder your success. Whether it's a sudden absence of key personnel or an overwhelming influx of customers, finding effective solutions is crucial. This is where...
Don’t lose that DoD contract! Let’s get you DFARS 252.204-7012 and NIST SP 800-171 Compliant.
Tell me if these ring a bell-- the Colonial Pipeline breach, the cyberattack on Scripps Health, the ransomware that hit JBL Foods, even McDonalds, Microsoft Exchange, and the Facebook data leaks. These all happened just this year. The pandemic has seen a rise in...
Going Green to Save Some Green!
Let's take a short break from all the DCAA's, the FAR's, the CAS's; a quick breather from #bookkeeping, from the number crunching, from the compliance, requirements and Government Contract Accounting topics and talk about something important. We all live on the same...