Government contracts and grants demand FAR-compliant accounting. This white paper will give you all the basic information you need to navigate the rules and regulations, set up a compliant accounting system, and avoid trouble.
FAR-compliance means separating direct, indirect and unallowable costs CORRECTLY. Trust us, improper coding of these costs can lead to more than accounting issues.
Every funding agency has its own rules and regulations. Not knowing them can lead to serious compliance issues—and is our #8 mistake government awardees make.
Too often, brilliant awardees get federal funding then try to do their own SBIR accounting. This can lead to all sorts of issues—including taking innovators away from their true work.