Understanding Revenue Recognition

Understanding Revenue Recognition

Overview What is revenue recognition? Isn’t revenue a straightforward calculation of the money coming in versus the money going out? Cash Accounting VS. Accrual Accounting Companies employ two accounting systems. Smaller firms, with annual revenue under $25...
What Is the DCAA and How Does it Work?

What Is the DCAA and How Does it Work?

The US government spends more than 10% of its federal budget on defense, and in 2021 that figure rose to more than $800 billion1. So back in 1965 they set up the Defense Contract Audit Agency, or DCAA, to keep tabs on the enormous projects they commission independent...