FAR-compliance means separating direct, indirect and unallowable costs CORRECTLY. Trust us, improper coding of these costs can lead to more than accounting issues.
Too often, brilliant awardees get federal funding then try to do their own SBIR accounting. This can lead to all sorts of issues—including taking innovators away from their true work.
Government contracts and grants demand FAR-compliant accounting. This white paper will give you all the basic information you need to navigate the rules and regulations, set up a compliant accounting system, and avoid trouble.
Every funding agency has its own rules and regulations. Not knowing them can lead to serious compliance issues—and is our #8 mistake government awardees make.
In #2 of our "Top Mistakes Government Awardees Make" blog series, it's all about the FAR-compliant account system and the serious issues that can arise if you don't have one. Read on and learn how to stay safe.