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The Department of Defense (DoD) requires Contractors to have a Property Management System (PMS) for Government Property in the possession of the Contractor. FAR 52.245-1 is the Primary Government Property clause containing the FAR requirements for the management and control of Government Property (GP) both Government Furnished (GFP) and Contractor Acquired (CAP). If your DoD [...]
They may be. The Bayh-Dole Act (BDA) of 1980 forms the foundation of ownership rights of intellectual property arising from Federal Government funded research. However, BDA is largely misunderstood by the various Government Agencies as well as the Government auditors. Federal Acquisition Regulation (FAR) 31.205-30 states that “patent costs are only allowable if required” by [...]
Are you a “major” DOD contractor that claims IR&D costs in your indirect rates? If you are, please take note that the FAR clauses relating to IR&D costs changed in January of 2012. In order for these costs to be allowable, the contractor is required to register its IR&D project with the Defense Technical Information [...]
As we come to the end of the year, research and development companies should consider filing a sales and use tax return even though no amounts may be due. Purchases made by these companies may be exempt from sales and use tax because of research and development exemptions or because you are buying materials that [...]
Subrecipient Monitoring We have noticed that one of the most common OMB A-133 findings is failure to adequately monitor subcontractors. This is also required of DoD contractors. Recipients are responsible for ensuring that subrecipients comply with all requirements associated with the federal assistance that are applicable to recipients.
http://www.federaltimes.com/article/20120529/DEPARTMENTS01/205290301/#.T8YGbbiuUng.mailto Post by Sarah Chacko at The Federal Times – May 29, 2012 … Billions of dollars in defense contract costs could go unaudited because of a mounting backlog at the Pentagon’s audit agency. The number of audits performed by the Defense Contract Audit Agency, which ensures that costs charged to the government by contractors [...]
Our latest SBIR Accounting Webinar on Projecting Indirect Rates is now available for download in the Free Resources Section of our website. You may request to download the file here: http://www.jamesoncpa.com/complimentary-information/
We’re happy to unveil some new website updates and resources to the public! Our homepage has been updated over the past week to include: A 3 Minute Impact Video – Giving visitors a quick snapshot of Jameson & Company, and our service to Small Business Government Contractors & Grantees. More Webinars – We’ve divided [...]
Our Accounting Webinar’s have become a very popular tool since we began running them in 2010. These presentations have opened up many opportunities for business owners to learn the most common accounting mistakes by government contractors, get the basics on how to clear the most common accounting hurdles they face, and discover how Jameson & [...]
Our monthly webinar has become a very popular accounting resource for entrepreneurs and small business owners across the country looking toward Government Grants & Contracts as a non-dillutive funding source. However, we understand that not everyone can be made available for a Webinar that is held only once a month, nor can they wait another 4 weeks [...]