Cost Accounting Defense Contract Audit Agency (DCAA)

The Defense Contract Audit Agency reviews US Department of Defense (DOD) contracts with “cost-plus” or other cost reimbursement provisions. The DCAA audits the contractor's project accounting systems and their compliance with cost accounting standards and guidelines. At any time, the DCAA can audit the contractor's internal control systems, including timekeeping and cost reporting. DCAA guidelines are also used as the standard for monitoring and auditing all US government contracts and service providers.

Sarbanes Oxley Effective Internal Controls (SOX)

Sarbanes-Oxley (also known as SOX) has made corporate governance a mandatory element of financial reporting, operational control and the daily running of a publicly traded company in the United States. Furthermore, institutional investors have adopted many of the same corporate governance principles for the privately held companies they invest in.

Labor Compliance Family and Medical Leave Act (FMLA)

The Family and Medical Leave Act (FMLA) is a US federal law that provides unpaid, job-protected leave to eligible employees, both male and female, in order to care for their families or themselves for specified family and medical conditions.

Fair Labor Standards Act (FLSA)

FLSA establishes minimum wage, overtime pay rules, record keeping guidelines, and labor standards affecting full-time and part-time workers in the private sector and in US federal, state, and local governments.

European Working Time Directive (EWTD)

EWTD is a directive from the Council of the European Union (93/104/EC) to protect the health and safety of workers in the European Union. It lays down minimum requirements in relation to working hours, rest periods, annual leave and working arrangements for night workers. The Directive was enacted into UK law as the Working Time Regulations.

California Wage Laws

California Wage Laws were established to improve working conditions for California's wage earners, and to advance opportunities for profitable employment in California.

Generally Accepted Accounting Principles (GAAP) Revenue recognition

The common set of accounting principles, standards and procedures that companies use to compile their financial statements. GAAP are a combination of authoritative standards (set by policy boards) and simply the commonly accepted ways of recording and reporting accounting information.

United States' per diem (FAR) regulations

FAR defines per diem, travel and transportation rates by State for all government contract work. Many service organizations and private businesses have adopted the same rates/policy for customer billing and employee reimbursements.

Expensing or capitalizing software costs (SOP 98)

Statement of Position 98-1, Accounting for the Costs of Computer Software Developed or Obtained for Internal Use (SOP), SOP 98-1 establishes guidance on accounting for the costs incurred related to internal software development and use. The objective is to provide guidance that specifically addresses the accounting for the costs related to designing, developing, obtaining, modifying and/or implementing software for internal use.

Scientific Research and Experimental Development (SR&ED) Tax Incentive Program

To encourage innovation and stimulate R&D activity in Canada, the Canada Revenue Agency (CRA) provides the Scientific Research and Exploratory Development (SR&ED) program. This program offers investment tax credits to businesses of any size and in any sector that develop new, improved, or technologically advanced products or processes within Canada.