An important milestone for government contractors and particularly to negotiated contracts is an adequate cost accounting system. Further, in today’s contracting environment having an adequate accounting system can be a pre-requisite for contracts. Today many Requests For Proposals (RFP) require it. The need for a compliant accounting system depends on the contractor’s circumstances and contract types. For instance negotiated fixed price contracts do not require an adequate accounting system, only that the cost or pricing data submitted meets the cost or pricing data requirements. These […]