Know the Rules So You Can Play the Game – The rules come down to what costs – overhead expense and other expenses – are allowed so you can obtain the highest benefit. A proactive firm utilizes multiple labor codes.
Times Are Changing – The days of generating an overhead rate based on tax information and estimating allowable expenses are over. You are now responsible for knowing what is allowable and what is not. The AASHTO Audit & Accounting Guide is your resource.
Fear Not – The new regulations are not killers. The requirements are good business practices. A little bit of pain means making profit on government contracts.
For more details about Federal Acquisition Regulations, read Government Contracts – FAR Overhead Best Practices.