Navigating compliance with government contract regulations can be very challenging, especially for emerging contractors. While government contracting provides financial opportunities, companies seeking such work
must be aware of and comply with complex requirements. These requirements come through solicitation and contract terms and can vary depending on the agency and circumstances. Commonly, contractors will see
requirements coming from, for example, the Federal Acquisition Regulation (FAR), Defense Federal Acquisition Regulation Supplement (DFARS), Cost Accounting Standards (CAS), and 2 Code of Federal Regulation (“CFR”) 200. Contractors should also be aware that the government has unilateral rights not found in commercial relationships and applies accounting rules beyond standard GAAP.
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