Tag Archives | CPSR

FAR Tightens Rulings on Government Contractors and Human Trafficking

We all know that human trafficking is wrong, and we would all be shocked if we heard that a well-known company involved itself in human trafficking. Luckily, there are organizations out there that seek to prevent global human trafficking and quickly point out alleged instances of such trafficking occurring, so that large corporations monitor their […]

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Revenue Recognition on Materials Purchases – Gross or Net?

Government Contracts often include tasks requiring the Contractor to make purchases on behalf of the Government Customer. It’s important in these circumstances to consider whether the Contractor is, in reality, acting as an Agent. That conclusion might impact how the revenue for such activity is to be reported under U.S. GAAP – gross or net. […]

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The Advantages of Having an Approved Purchasing System

What is a “Purchasing System?” It is all of the activities required by FAR Subpart 44 that relate to a Prime Contractor’s purchasing of goods and services. It starts at the decision to make a purchase. This is typically called the “make or buy” decision and applies regardless of what is being purchased: services or […]

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