Archive | 360 News

Experts at CohnReznick are continuing to keep their eyes and ears open for new rules, regulations and other important information pertinent to government contractors. Be sure to visit this page regularly to stay informed.

What You Need to Know to Grow in the Federal Marketplace

Perhaps the biggest challenge government contractors face is consistently developing business by winning new contracts.  It is a challenge that trumps cash flow, the search for good talent, technical adeptness, and all other operating proficiencies. Businesses seek ways to grow rapidly, but struggle when pinpointing where to focus their resources. One strategy that government contractors […]

Continue Reading

Optimizing an Organization with Disparate Commercial and Federal Business Interests

There are many issues associated with optimizing an organization with disparate commercial and federal business interests within a single global enterprise. There also are multiple alternative approaches along with respective advantages and disadvantages of each. Federal contractors view compliance with the Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS) as simply a cost of […]

Continue Reading

The Pitfalls of Bad Accounting Practices for Government Contractors

Bad accounting practices are like bad habits – most start unintentionally and then become hard to break. Whether it’s a lack of segregation of duties, inadequate training, or the wrong accounting system, the results are the same – inaccurate and untimely financial statements. Practices that worked in the recent past may now be antiquated. Growth, […]

Continue Reading

For Government Contractors Thinking They Are Not Subject to Cost Accounting Standard 407: Think Again

Cost Accounting Standard (CAS) 407 is the regulation contractors must be aware of when utilizing standard costing on government contracts. But CAS 407 also poses challenges for contractors not subject to the regulation, because the government still relies on the criteria for acceptability of standard costing practices described within CAS 407 to evaluate all contractors. […]

Continue Reading

Commerciality and the Memo of Understanding

In September of 2016, the Defense Contract Management Agency (DCMA) and Rockwell Collins signed a memorandum of understanding (MOU) that established an improved process for the procurement of commercial items for military applications.1  A memorandum of understanding is a written agreement between two or more parties. It is also referred to as a memorandum of […]

Continue Reading

Webinar: Stock Market & Federal Spending Trends – July 2018

Connecting the Dots with the Stock Market, Federal Spending Trends, and Government Contractors’ View of 2018 & Beyond Join CohnReznick and BB&T for a complimentary webinar on July 25th. Federal government contractors understand the challenges brought on by the federal government’s increase or decrease in spending. Companies that bid on government contracts deal with not […]

Continue Reading

Webinar: Stock Market and Federal Spending Trends – July 2018

Connecting the Dots with the Stock Market, Federal Spending Trends, and Government Contractors’ View of 2018 & Beyond Join CohnReznick and BB&T for a complimentary webinar on July 25th. Federal government contractors understand the challenges brought on by the federal government’s increase or decrease in spending. Companies that bid on government contracts deal with not […]

Continue Reading

Assessing Business Systems Applicability: A Serious Business

Contrary to popular belief, business systems are not specific software packages. Instead, these systems are a confluence of policies, procedures, and reestablished practices. Business systems are the foundation of any sustainable and profitable company. In the federal contracting realm, business systems are as follows: accounting, estimating, material management, purchasing, earned value management, and property.  These […]

Continue Reading

June 2018 Government Contracting Lunch and Learn Series

Join CohnReznick for a complimentary Lunch & Learn session on either June 12th in Baltimore, MD or June 13th in Tysons, VA. This month’s topic is “Financial Benchmarks & Industry Trends for Government Contractors: How Does Your Company Compare in a Competitive Environment?” Click here to register.

Continue Reading