Government Contractors

Overhead vs. General and Administrative Costs – What’s the Difference?

As a government contractor, you are required to properly segregate and track your costs in accordance with the standards defined in the Federal Acquisition…

Reasons Indirect Cost Rates Change

Indirect cost rates are an important element of every government contract. They provide a ratio between the indirect costs and a direct cost base…

Sikich to Acquire Cotton & Company; Expanding as a Full-Service Provider for Government Agencies and Contractors

CHICAGO — Feb. 15, 2022 — Sikich announced today that it has entered into a definitive agreement to acquire Cotton & Company, a public…

Overlooked Year-end Checklist Items for Government Contractors

As the end of the year quickly approaches, many government contractors turn their attention to year-end planning. Rather than focusing on the usual end…

6 Common Mistakes in Reporting Overhead Costs

Government contractors typically allocate their indirect costs in one of three pools: fringe benefits, General and Administrative (G&A) costs or overhead costs. Overhead costs are costs…

Fringe Benefits: Considerations for Government Contractors

Any contract with a federal agency is subject to special accounting rules. These rules are applied to ensure fairness, efficiency and taxpayer confidence. They also encourage competitive…

Cost Accounting for Federal Contractors

As a Federal Contractor, you are required to maintain an adequate accounting system to ensure compliance with applicable cost principles. Fortunately, the cost accounting data…