Accurate timekeeping is the backbone of successful government contracting. The Defense Contract Audit Agency (DCAA) places great emphasis on precise timekeeping systems to ensure fair and transparent billing practices. In this blog post, we will delve into the...
In the year 2000, Peter Witts recognized a growing need for specialized CPA services in the realm of Government Contracting. Fueled by a passion for assisting businesses in Dracut, MA, and beyond, he founded Peter Witts CPA PC. What began as a one-man operation has...
Government contracting offers lucrative opportunities, but it also comes with inherent risks. To thrive in this competitive landscape, contractors must prioritize effective risk mitigation strategies. In this blog post, we’ll explore best practices for...
When it comes to complex government contracts, mastering Cost Accounting Standards (CAS) is not just a skill; it’s a necessity. CAS compliance is a critical component of successful government contracting, ensuring that your cost accounting practices align with...
Government contracts often come with complex accounting requirements, especially when it comes to allocating indirect costs. To maintain compliance with the Cost Accounting Standards (CAS) and meet the demands of the Defense Contract Audit Agency (DCAA), government...
Government contracts are subject to stringent financial regulations to ensure transparency, accountability, and responsible use of taxpayer funds. An essential aspect of government contract accounting is the classification of costs, allowable and unallowable cost....
