April 14

Incurred Cost Submission Schedules

Reading Time: 2 minutes There are a number of incurred cost submission schedules in the Defense Contract Audit Agency’s (DCAA) incurred cost proposal model that do not have to be included with your annual incurred cost proposal submission. But that doesn’t mean you are off the hook! Some of these optional schedules contain information needed to complete the mandatory documentation that goes with your proposal. As well, that optional documentation must be ready when the federal auditors begin their work.

April 14

Expansion of Overtime Pay

Reading Time: 2 minutes If you haven’t been paying close attention to overtime pay rules lately, now is a good time to start, with support from your accounting professionals. President Obama’s latest charge to the DOL comes on the heels of his directive raising the minimum hourly wage for employees who work for private employers under new U.S. government contracts. Those employees will be paid $10.10 per hour, up from today’s federal minimum wage of $7.25 per hour.