Jul 2, 2020 | Government Contract Accounting, FAR, and CAS, Regulatory Updates
A final rule on evaluation factors for multiple-award contracts was published and goes into effect August 3, 2020. The rule implements section 825 of the FY2017 National Defense Authorization Act (NDAA) and modifies the requirement to consider price or cost as an...
Jun 11, 2020 | Government Contract Accounting, FAR, and CAS, Other Government Regulatory Topics
This interim rule clarifies certain key changes made to the Paycheck Protection Program (PPP) by the Paycheck Protection Program Flexibility Act of 2020 (Act). This IFR further clarifies the Act by explaining the lowering of the minimum payroll cost limitation to 60%...
May 26, 2020 | Government Contract Accounting, FAR, and CAS, GSA & VA Schedule
The General Services Administration released an updated question-and-answers document on its temporary waiver of the Trade Agreement Act (TAA) for COVID-19-related products. To learn more, read the complete FAQ sheet.
Apr 16, 2020 | Government Contract Accounting, FAR, and CAS, Other Government Regulatory Topics
GAO recently released a report to Congress on the Cost Accounting Standards Board (CAS Board) activities. Of particular interest, Appendix I, “Description of the 19 Cost Accounting Standards and Their Purpose” (page 21) specifies the likelihood for GAAP conformity for...
Apr 6, 2020 | Contractor Business Systems and Reviews, Government Contract Accounting, FAR, and CAS, Other Government Regulatory Topics, Procurement
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress and signed into law by President Trump on March 27, 2020. The stimulus bill, enacted in response to the ongoing COVID-19 crisis, contains provisions directed at government...
Mar 30, 2020 | Contractor Business Systems and Reviews, Government Contract Accounting, FAR, and CAS, Other Government Regulatory Topics, Regulatory Updates
The Office of Management and Budget (OMB) has relaxed key requirements of 2 CFR 200 on grantees, including extending Uniform Audit submissions up to six months, extending indirect cost rates, and expanding definitions of reimbursable costs, among other financial and...
