Government grants and contracts require FAR Part 31 compliant accounting
If you have a federally-funded award, it is subject to a complex set of rules known as the Federal Acquisition Regulations (FAR), as well as agency-specific regulations.
To help you understand the basics, set up a FAR-compliant accounting system properly, and better navigate the rules and regulations, we’ve created a comprehensive guide, “Understanding The Basic Accounting Requirements For Federal Government Awards”
This helpful, informative guide includes:
- How to set up your chart of accounts
- The difference between direct, indirect and unallowable costs
- The importance of time sheets
- Job Cost Reporting
- Indirect Cost Rates, and
- Incurred Cost Submissions
If you need help maintaining a FAR Part 31-compliant accounting system, Contact Us to schedule a time to speak to one of our government funding experts, and we will follow up within 48 hours.
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Ed Jameson, CPA, Managing Member
With over 40 years of experience as a government funding award accounting specialist, Ed is a recognized national expert in the field. In addition to helping hundreds of clients navigate FAR Part 31 compliance. he has been an active speaker and panel moderator at Tech Connect's National SRIR/STTR conferences since 2011. presents at the DOD's Mentor Protégé Summit and presents regularly for several state and local organizations.