Navigating the SBA 8(a) Business Development Program - Accounting Best Practices

In this episode of Cherry Bekaert’s GovCon Podcast series on the Small Business Administration’s (SBA) 8(a) Business Development Program, Brynn McNeil and Craig Hunter, assurance partners in Cherry Bekaert’s Government Contracting Industry practice, discuss accounting best practices for 8(a) companies. Listen to find out about:

  • Setting up an accounting system to segregate costs
    • Chart of Accounts
    • Indirect rates
  • Reporting functionality for:
    • Contract revenue summary by contract
    • Showing cumulative revenue
    • Annual revenue
    • Direct costs
  • Importance of month end reconciliations of balance sheet account
  • Recent accounting pronouncements that impact accounting
    • ASC 505
    • ASC 842
  • What to consider when selecting an accounting system
  • Accounting department general housekeeping best practices

Cherry Bekaert’s team of government contracting consultants have extensive experience in navigating the SBA 8(a) Business Development Program and can assist your business with accounting best practices. If you have any questions specific to your situation, our GovCon consultants are available to discuss your situation with you. 

Connect With Us.

If you haven’t already, catch up on other episodes in our podcast series discussing various aspects of the Small Business Administration’s (SBA) 8(a) Business Development Program:


View All Government Contracting Podcasts

 

Brynn McNeil

Assurance Services

Partner, Cherry Bekaert LLP
Partner, Cherry Bekaert Advisory LLC

Craig Hunter

Assurance Services

Partner, Cherry Bekaert LLP
Partner, Cherry Bekaert Advisory LLC

Past Episodes

Podcast

November 19, 2024

18:36

Speakers: Lynnette Leidwinger, Brendan Halloran

Explore key subcontracting insights, including compliance reviews, teaming arrangements, and hiring tips for government contractors.

Podcast

November 14, 2024

22:36

Speakers: Michael G. Cippel, Irwin Kaplan

Discover year-end planning essentials for government contractors, including contractor waterfall insights, cash forecasting & monthly performance tracking.

Podcast

November 11, 2024

20:43

Speakers: Sarah McGregor, Brooks E. Nelson, Mark Giallonardo

Learn how to claim disaster losses and defer casualty gains under IRS rules. Explore relief measures for individuals and businesses affected by disasters.