Posts Tagged ‘Government’
The Four Horsemen of the Incurred Cost Audit
At a glance: Schedule a consultation with Aprio’s GovCon team today. The full story: Under the Allowable Cost and Payment clause (52.216-7), contractors with cost reimbursement, time and materials or incentive type contracts are required to submit an annual final indirect cost rate proposal known as an incurred cost submission, which is the precursor to…
Read MorePreparing for Your Financial Statement Audit With This Checklist for Government Contractors
At a glance: The full story: For federal contractors, preparing for a financial statement audit can feel overwhelming. This process requires meticulous attention to detail and ensures your eligibility for future contracts and loans. Banks and investors may request audits to verify that the information in your financial statements is materially correct and complies with…
Read MoreIndirect Rate Strategies – How To Budget For Success
Indirect Rate Strategies
Unlocking the Mystery of Provisional Billing Rates: Why They Matter!
At a Glance The full story What are Provisional Billing Rates or PBRs? Provisional Billing Rates (PBRs) are a way for contractors to invoice interim costs at a temporary rate for a specific fiscal period. This allows the contractor to invoice in accordance with their billing terms of their contracts, at the anticipated year-end actual…
Read MoreWhen are U.S. Government Contractors Eligible for the R&D Tax Credit?
At a glance The full story: Many companies often incorrectly assume that any work performed as part of the scope of a government contract is disqualified from the R&D Tax Credit because it is government-funded. In actuality, many of the research and development activities involved through the performance on government contracts can qualify, meaning government…
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