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The Section 809 Panel: Streamlining and Improving the Defense Acquisition Process

Posted by Katelyn Crowley

Jul 18, 2017 3:32:24 PM

The Section 809 Panel is a congressionally mandated panel tasked with streamlining and improving the defense acquisition process. They believe bold improvements are needed to create an agile and simple defense acquisition process that provides the warfighter what they need, when they need it.

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Is Your Government Funding Safe?

Posted by Katelyn Crowley

Jun 27, 2017 10:59:58 AM

There are numerous companies that are doing business with the federal government, some for decades, some for years, and some just started.  No matter the maturity of the company, each must comply with the Federal Acquisition Regulations as outlined in their grants and/or contracts. The question we often get is “How do I know if my team is doing the accounting properly for our government award(s)?” Well, there are many questions you could ask your financial team but, we’ve narrowed it down to just two:

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Small Business Innovation Breakfast: Government Funding for Emerging Technologies | 7/19 Kendall Square

Posted by Katelyn Crowley

Jun 26, 2017 2:29:01 PM

Jameson & Co. is excited to be participating in the Small Business Innovation Breakfast: Government Funding for Emerging Technologies event on July 19th in Kendall Square. The morning will be dedicated to small businesses finding new opportunities to work on programs with federal agencies like the Defense Innovation Unit Experimental (DIUx) and the Small Business Administration (SBA).

Learn about new programs to get your company funded in as little as 30 days as the government looks to attract companies in emerging technology fields like AI, cybersecurity, robotics, additive manufacturing, biologics and wearables. The event will feature speakers from DIUx, the SBA and Jameson. DIUx is an innovation cell stood up by the military to attract emerging technology companies with one of its first offices opening in Boston. The SBA has also created new programs to boost funding ceilings to small businesses working on R&D programs.

This is a unique opportunity to learn about these exciting new programs that allow you to build your companies without losing equity. We look forward to seeing everyone soon.

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Accounting for Uncompensated Overtime Option #3

Posted by Ed Jameson

Jun 8, 2017 9:00:00 AM

We previously talked about uncompensated overtime and what it means. (If you missed that blog, check it out here.) We also talked about a couple methods to deal with this; Options #1 and #2. Now, let’s look at another method: Pro-rate the standard hours per pay period (i.e. 40 hrs if paid weekly) based on the actual hours worked.

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Topics: Uncompensated Overtime

National SBIR Conference: Discount Code and 1-on-1 Meetings

Posted by Katelyn Crowley

Mar 31, 2017 12:47:36 PM

Jameson & Co. has been asked to speak again the National SBIR Conference in Washington, DC this May!

National SBIR/STTR conferences are typically the largest and most important conferences specializing in helping small businesses learn about participating in SBIR/STTR programs. At this Conference, representatives from all 11 federal agencies with SBIR programs will attend, in addition to other SBIR/STTR experts and trainers.

Over $2.5 Billion in funding will be represented. It's a great opportunity for young companies, and incubators to come meet with these agencies 1-on-1, and to learn how to apply for funding. Further details may viewed on the event website.

As a Supporting Partner, Jameson & Company, CPAs is pleased to offer a 10% off discounted rate to attend the SBIR/STTR Conference May 15-17. When registering, please use code: 17JAMESCPA

Code: 17JAMESCPA

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White House Proposing $1.2 billion NIH Budget Cut for Fiscal Year 2017

Posted by Katelyn Crowley

Mar 28, 2017 4:42:43 PM

Jameson is certainly following what’s going on in D.C. and how certain budget cuts – or increases – may impact our clients.  The majority of our clients are doing business with the Department of Defense, National Institutes of Health, National Science Foundation, and Department of Energy, among others.

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Accounting for Uncompensated Overtime Option #2

Posted by Ed Jameson

Feb 27, 2017 1:11:16 PM

We previously talked about uncompensated overtime and what it means. (If you missed that blog, check it out.) We also talked about a method (Option #1) to dilute the hourly rates. Now, let’s look at another method: Record the dollar value of overtime worked at the employee’s hourly rate as “accrued payroll.”

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Topics: Uncompensated Overtime

SBIR/STTR Program Reauthorized Through 2022

Posted by Ed Jameson

Jan 17, 2017 10:18:52 AM

For Background

“The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization.

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Topics: SBIR, STTR

Accounting for Uncompensated Overtime Option #1

Posted by Ed Jameson

Nov 16, 2016 2:44:23 PM

We previously talked about uncompensated overtime and what it means. (If you missed that blog, check it out.) Now that you understand what uncompensated overtime is, we need to talk about how you want to account for it. To start, we’ll look at our first method: Adjust the effective pay rate for exempt employees each pay period based on the total hours worked during that pay period…effectively diluting the pay and billing hourly rates.

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Topics: Uncompensated Overtime

What Is Uncompensated Overtime?

Posted by Ed Jameson

Oct 25, 2016 9:00:00 AM

All companies need to account for uncompensated overtime, and yet when we speak with companies, most ask us, “What is Uncompensated Overtime?” The Federal Acquisition Regulations – which you must follow as a government contractor or grantee – explains that uncompensated overtime is “hours worked without additional compensation in excess of an average of 40 hours per week by direct charge employees who are exempt from the Fair Labor Standards Act” (i.e., salaried employees) (FAR 52.237-10). What does that mean exactly? It means your company is required to have a policy in place to account for uncompensated OT. If you don’t have a policy in place and your exempt employees are incurring OT, then it’s likely that you’re mischarging your government contracts and you’re subject to losing them.

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Topics: Uncompensated Overtime