DCAA COMPLIANCE BLOG

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Government Contracting Accounting Requirements

Posted by Mike Anderson on Mon, Aug 12, 2013 @ 12:00 PM

Ok, so you have an award from the government and you understand that there are requirements on how your accounting system is set up and operated.  Where do these requirements come from?  How do you know what needs to be done to make your accounting system compliant?  I think it makes sense to understand the "rules of the playground".  This review is fairly superficial but will help you, as a Federal Award participant, to understand more of the "why" and where it is coming from.  This overview may also help you understand some of the other terms and conditions that are always attached to a Federal Award.

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Topics: FAR, government contractor, GAAP, CFR, OMB, government contract accounting