Maintaining an Acceptable Accounting System
Government contractors are required to maintain accounting systems that will be reviewed by DCAA and deemed acceptable or unacceptable. As one may be aware, maintaining a DCAA accepted accounting system goes beyond the purchase of an off-the-shelf accounting software package. This podcast will discuss the steps needed in maintaining an acceptable accounting system. Some topics covered will be, setting up and maintaining a logical chart of account, identifying and segregating unallowable costs. The importance of annual cost structure reviews as well as difficulties one may face along the way and how to avoid them.