Building an Adequate Accounting System for your SBIR Award

Over the next few weeks, we will be rolling out a video series on the top ten things that are critical to building an accounting system that is adequate for your SBIR government contract.

Below is the list of topics we will cover:


 

  1. Proper segregation of direct costs from indirect costs.

  2. Identification and accumulation of direct costs by contract.

  3. A logical and consistent method for the allocation of indirect costs to intermediate and final cost objectives.

  4. Accumulation of costs under general ledger control.

  5. A timekeeping system that identifies employees’ labor by intermediate or final cost objectives.

  6. A labor distribution system that charges direct and indirect labor to the appropriate cost objectives.

  7. Interim determination of costs charged to a contract through routine posting to books of account.

  8. Exclusion from costs charged to Government contracts of amounts that are not allowable pursuant to FAR Part 31, Contract Cost Principles and Procedures, or other contract provisions.

  9. Identification of costs by contract line item and units (as if each unit or line item was a separate contract) if required by the proposed contract.

  10. Segregation of pre-production costs from production costs.


If you are looking for more information on what it it takes to have an adequate accounting system for your SBIR government contract, you can visit our page at www.mokercpa.com.

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