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Left Brain Professionals

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About Left Brain Professionals

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    http://www.leftbrainpro.com

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    Columbus, OH

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  1. The CARES Act and FFCRA provide multiple options of economic relief for government contractors. They also provide multiple opportunities for confusion and errors. The number one takeaway: NO DOUBLE DIPPING!… The post PPP Loans for Government Contractors – No Double Dipping appeared first on Left Brain Professionals Inc. leftbrainpro.com
  2. Disclaimer This presentation is not intended to be tax or legal advice for any specific situation. The facts of every situation vary. Contact your accountant or attorney to discuss your specific situation. The guidelines for the PPP program are vague (at best) in certain parts. The SBA stated that additional guidance is forthcoming. What is… The post Paycheck Protection Program (PPP) Loan Details & Resources appeared first on Left Brain Professionals Inc. leftbrainpro.com
  3. Businesses are rushing at breakneck speed to apply for the SBA’s new Paycheck Protection Program (PPP) Loans created and funded by the CARES act. The loan forgiveness provision all but promises free money to those that apply. In fact, many businesses seem to apply for that reason alone. What’s wrong with free money? We’re concerned… The post What’s Wrong With Free Money In The Form Of A PPP Loan? appeared first on Left Brain Professionals Inc. leftbrainpro.com
  4. Accounting systems, policies and procedures make up a critical component of government contract management. To win and keep profitable federal contracts, businesses must show compliance with federal accounting regulations. Effective government contract accounting rests on a foundation of Generally Accepted Accounting Principles used by almost every business. Starting with a solid GAAP framework makes compliance… The post Laying a Foundation for Government Contract Accounting appeared first on Left Brain Professionals Inc. leftbrainpro.com
  5. What is NIST 800-171? The NIST (National Institute of Standards and Technology) 800-171 is a federal regulation that was issued Dec 1, 2016 to help control the safety and security of CUI that resides in nonfederal systems. What is CUI? Controlled unclassified information, also known as CUI, is federally released, non-military data including personally… The post Understanding NIST 800-171 and what it means for Government Contractors appeared first on Left Brain Professionals Inc. leftbrainpro.com
  6. I know many of you struggled (or are struggling) with growing pains in your business – it’s often one of the many reasons we are called, to help our clients get to things they don’t have time to do. Recently, we’ve experienced that pain ourselves. The pain of becoming successful. The positive side: new clients,… The post The Struggle with Success appeared first on Left Brain Professionals Inc. leftbrainpro.com
  7. The Financial Accounting Standards Board (FASB) identified leases as an item of concern on financial statements. Until recently, companies were not required to report most leases on their balance sheet which resulted in “off-balance sheet financing.” The long-term nature of leases and their use as a financing tool meant that companies have long-term commitments (liabilities),… The post The Impact of Lease Changes on Government Contractors appeared first on Left Brain Professionals Inc. leftbrainpro.com
  8. Many government contractors will need to submit an Incurred Cost Proposal. It is up to your business to make sure you do one and you do it right. Here are some common questions businesses have when it comes to preparing a proposal. Do I need to submit an Incurred Cost Proposal? You will need to… The post Everything You Need to Know About Incurred Cost Proposals appeared first on Left Brain Professionals Inc. leftbrainpro.com
  9. “Nah, we make enough money. Thanks, but no thanks.” “We never worry about making our payments.” “Our employees are dedicated to the mission of the business. They’re okay with lower compensation.” If any of these scenarios sound familiar, stop reading now; this article will not be of interest to you. However, if you want to… The post Why You Need A Budget appeared first on Left Brain Professionals. leftbrainpro.com
  10. NCMA Dayton hosted “Small Business & Government Relations” as part of it’s monthly Bagels & Business series. Panelists: Tom Krusemark, Procurement Center Representative, Small Business Administration Dave London, Chief Operating Officer, Tridec Technologies Bill Cox, Procurement Specialist, Procurement Technical Assistance Center Michael Bridges, President, Peerless Technologies Bill Cox’s opening statement to small businesses “You need… The post Small Business & Government Relations appeared first on Left Brain Professionals. leftbrainpro.com
  11. Question In your discussion of intellectual property in government contracts, you talked about government purpose rights and how you negotiated with the government for your client to keep the background technology but allow the government to own the form factor. Where both the contractor and the government contribute funding, the parties are left to negotiate… The post Intellectual Property in Government Contracts appeared first on Left Brain Professionals. leftbrainpro.com
  12. One of the most common topics we address with clients is their billing rate structure. The conversations tend to start in one of two ways. The first relates to a real or perceived competitive pricing issue. The second relates to an accounting system (software) upgrade. In both cases, we train clients how to properly structure… The post Demystifying Billing Rate Structures appeared first on Left Brain Professionals. leftbrainpro.com
  13. Each year brings about new budgets and new National Defense Authorization Acts (NDAA). NDAAs address funding, strategic plans, and rules affecting the defense acquisition process. NDAA 2018 is no exception and here are the highlights regarding cost, price, and accounting. The NDAA includes a number of provisions that reinforce the Congress’ commitment to the acquisition of commercial items under commercial terms. These include requirements for a reassessment of what general procurement statutes should apply to commercial items and the establishment of a so-called “Amazon for Government” onlin
  14. Each year brings about new budgets and new National Defense Authorization Acts (NDAA). NDAAs address funding, strategic plans, and rules affecting the defense acquisition process. NDAA 2018 is no exception and here are the highlights regarding cost, price, and accounting. The NDAA 2018 raises the thresholds for a number of procurement regulations reflecting a recognition that more onerous acquisition regulations should be limited to more costly procurements. The NDAA also reflects an emphasis on the use of commercial risk metrics when auditing contractors, and the use of non-government audito
  15. Each year brings about new budgets and new National Defense Authorization Acts (NDAA). NDAAs address funding, strategic plans, and rules affecting the defense acquisition process. NDAA 2018 is no exception and here are the highlights regarding cost, price, and accounting. The NDAA 2018 raises the thresholds for a number of procurement regulations reflecting a recognition… leftbrainpro.com
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