FASB Accounting Standards Codification (ASC) Topic 842, Leases, issued in February 2016, marked a significant overhaul in the financial reporting of long-term leases. Its adoption created many ...
Welcome back to the Cost Corner, where we provide practical insight into the complex cost and pricing requirements that apply to Government contractors. This is the second article in a multi-part ...
While reading the financial statements of a manufacturing company, I realized that I didn't understand the contents of the cost of goods sold. I wondered how material costs, labor costs, and overhead ...
In the first article of this series of articles related to selling to the federal government, I discussed federal acquisition regulations (FAR), cost accounting standards (CAS) and the types of ...
Federal regulations require that similar costs be treated consistently as either direct costs or indirect costs, in like circumstances. This regulation imposes a requirement on the University to ...
Accounting is a foundational process for every business, no matter how big or small. Learn what accounting is, why it matters and how to make it work for you. Keeping accurate financial records is the ...
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