Any small business that publishes financial statements must prepare those statements in accordance with generally accepted accounting principles, or GAAP. GAAP includes accounting principles and ...

When a public company issues a financial statement, everything needs to be clear and well-understood by everyone reading it. To ensure this, it’s paramount to have a baseline for reporting. That’s ...

There are four basic concepts that guide the process of developing sponsored project budgets as defined in 2 CFR 200, Uniform Guidance. These four concepts are used to determine if costs may be ...

Welcome back to the Cost Corner, where we provide practical insight into the complex cost and pricing requirements that apply to Government contractors. This is the third article in a multi-part ...

The purpose of this policy is to identify the principles used to determine whether costs incurred at Western Michigan University are allowable or unallowable as direct costs or as facilities and ...

Please join the Accounting, Cost and Pricing Committee of the ABA Public Contract Law Section ("PCLS") for a panel discussion that will cover recent audit trends and issues; highlight recent ...

This policy statement has been updated to reflect the U.S. Office of Management and Budget’s Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR, ...

In honor of the release of the 6th Edition of the Government Contracts Compliance Handbook, we are sharing six essential tips for government contractors to ensure compliance with the Federal ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

Cost accounting is an essential activity for laboratory animal facility management. Reasons for carrying out cost accounting include establishing the actual costs of facility operations; assessing ...

Knowing GAAP accounting principles will help you understand why your accountant does the things they do. Many, or all, of the products featured on this page are from our advertising partners who ...