How to Ensure Consistency in the Collection, Assignment, and Reporting of All Accounting Entries

Government contractors have unique accounting and contract administration needs to make sure they stay compliant with FAR/DFAR regulations. The purpose of this Policies and Procedures manual is to ensure consistency in the collection, assignment, and reporting of all accounting entries in support of the business. The major areas addressed in this manual include the accounting structure, timekeeping, revenue recognition, cost categorization/allocation, indirect rate calculations, expense policies, internal controls, and the cost accounting structure.

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