Left Brain Professionals
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And how to profit while delivering real value. Our creative problem-solving challenges the status quo. Weโre adept at helping you navigate a constantly changing legal and regulatory landscape. And at mapping out new strategies to achieve your goals.
03/22/2024
We're thrilled to announce that we're joining forces with Stambaugh Ness , a leading provider of professional services for the Architecture & Engineering (AE) government contracting industry!
This exciting partnership allows us to combine our expertise in accounting, CFO Advisory, and consulting with Stambaugh Ness's established resources. Together, we'll be launching a brand-new Outsourced Accounting Services (OAS) practice area designed specifically for your needs.
๐ช๐ต๐ฎ๐ ๐๐ต๐ถ๐ ๐บ๐ฒ๐ฎ๐ป๐ ๐ณor our clients:
โข Access to a wider range of expertise and resources to support your success.
โข Expect the same high-quality service youโve always received.
โข Exciting opportunities to optimize your operations and achieve even greater results.
Stay tuned for more information about the new OAS for GovCon services! In the meantime, head over to the Stambaugh Ness website to read the full story: https://www.stambaughness.com/news/announces-strategic-acquisition-of-left-brain-professionals/
We're excited for this next chapter and can't wait to continue serving you alongside Stambaugh Ness!
03/22/2024
We're thrilled to announce that we're joining forces with Ness, a leading provider of professional services for the Architecture & Engineering (AE) government contracting industry!
This exciting partnership allows us to combine our expertise in accounting, CFO Advisory, and consulting with Stambaugh Ness's established resources. Together, we'll be launching a brand-new Outsourced Accounting Services (OAS) practice area designed specifically for your needs.
๐ช๐ต๐ฎ๐ ๐๐ต๐ถ๐ ๐บ๐ฒ๐ฎ๐ป๐ ๐ณ๐ผ๐ฟ ๐ผ๐๐ฟ ๐ฐ๐น๐ถ๐ฒ๐ป๐๐:
โข Access to a wider range of expertise and resources to support your success.
โข Expect the same high-quality service youโve always received.
โข Exciting opportunities to optimize your operations and achieve even greater results.
Stay tuned for more information about the new OAS for GovCon services! In the meantime, head over to the Stambaugh Ness website to read the full story: https://bit.ly/3vyp6Pc
We're excited for this next chapter and can't wait to continue serving you alongside Stambaugh Ness!
Identifying and allocating indirect costs in government contracting is a nuanced process. First, it's about distinguishing which expenses are indirect and grouping them into pools like facilities or administration.
But the real challenge? Allocating these costs to individual contracts fairly and consistently.
This involves selecting an appropriate allocation base that logically connects to the costs in the pool, such as direct labor hours or machine hours.
Achieving consistency in this allocation is critical and requires a strategic approach. Failing to do so can lead to inaccuracies in cost reporting and affect your profitability and compliance.
Itโs a meticulous process but essential for ensuring that every project bears its fair share of indirect costs. Download our free Chart of Accounts tool to help you stay organized: https://bit.ly/3Smx7iS
Navigating the realm of government contract accounting brings us to a crucial aspect: Managing Indirect Cost Pools.
What are these? They're groups of expenses that, unlike direct costs, can't be tied to a specific contract but are essential for the overall functioning of a company. Think of things like general administration, facilities maintenance, or employee benefits.
Setting up and managing these pools as per Cost Accounting Standards (CAS) is a complex task, requiring a deep dive into cost accounting principles. It's about ensuring that these indirect costs are allocated across contracts in a manner thatโs fair, reasonable, and compliant.
This process is not just about compliance but also about maintaining the financial health and competitiveness of your business. Take a look at our resource page on Cost Pools here: https://bit.ly/3HoN4Pj
Identifying and allocating indirect costs in government contracting is a nuanced process.
First, it's about distinguishing which expenses are indirect and grouping them into pools like facilities or administration.
But the real challenge? Allocating these costs to individual contracts fairly and consistently. This involves selecting an appropriate allocation base that logically connects to the costs in the pool, such as direct labor hours or machine hours.
Achieving consistency in this allocation is critical and requires a strategic approach. Failing to do so can lead to inaccuracies in cost reporting and affect your profitability and compliance.
Itโs a meticulous process but essential for ensuring that every project bears its fair share of indirect costs. Read more about indirect costs here: https://bit.ly/3QgUUOZ
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