Understanding Contributed Services

Contributed services are professional services that have been donated by someone outside of your organization with specialized skills — such as those provided by doctors, nurses, lawyers or accountants. They have a real monetary value, but you must handle them differently compared to donated goods when recording them in your accounting system and acknowledging your […]
October 18, 2021

Cybersecurity Maturity Model Certification: What Government Contractors Need to Know to Prepare

Do you know what it takes to become CMMC certified? Join the Director of our CMMC Advisory practice, Azunna Anyanwu, for an overview of the Cybersecurity Maturity Model Certification (CMMC) on Thursday, October 28, 2021 at 11:00 a.m. ET. Aronson LLC is a Registered Provider Organization (RPO) with the CMMC-AB, the accreditation body responsible for […]
October 15, 2021

US Government to Fine Government Contractors who Fail to Follow Required Cybersecurity Standards (Civil Cyber-Fraud Initiative)

On October 6, 2021, the U.S. Department of Justice (DOJ) said “it will go after federal contractors that fail to report cybersecurity incidents to the U.S. government.” (The Hill) Deputy Attorney General Lisa Monaco “said the initiative will allow the Justice Department to use its authorities under the False Claims Act to fine government contractors […]
October 14, 2021

GAAP Accounting for Third Party Reimbursements: Contributions vs. Exchange Transactions

U.S. GAAP accounting for Federal government grants might seem straightforward after the adoption of ASU 2018-08–Clarifying The Scope And Accounting Guidance For Contributions Received And Contributions Made. The FASB explained that the resource provider, for example, the Federal government, is not synonymous with the general public and to be an exchange transaction the resource provider […]
October 14, 2021

Guidance Released for the Government Contractor Vaccine Mandate

President Biden’s Executive Order (EO) 14042 requires Federal Government contractors to implement certain measures designed to combat the COVID-19 pandemic including; Most employees working on or in connection with a covered contract must be vaccinated, Masks and social distancing will be required in covered locations, and Contractors must appoint an employee to be responsible for […]
October 13, 2021

A Contractor’s Guide to Surviving the Government Shutdown

Likely Impacts and Possible Actions Executive Management  Impacts: Shutdown impacts felt across many corporate functions Actions: Assign a multi-functional team to identify impacts, dependencies and actions required Monitor shutdown activities daily Contracts: Impacts: No funding Can’t exercise option Can’t work due to unavailability of Government facilities or personnel (constructive stop work order) Stop work order […]
September 29, 2021

Gaining a Competitive Edge: Indirect Rates Webinar

Download presentation slides. Tune in on October 13, 2021 at 11:00 a.m. ET as Aronson’s Managing Consultants, Tram Vo and Anne Bromet-Jagodits, team up with InfoTek’s Managing Consultant, Shirley McNeel, to share timely industry insights, including: Knowing your market and how your rates compare How your rates align with your current and future business goals Accounting for certain costs in different ways […]
September 29, 2021

Agency Transactions

According to U.S. GAAP an agency transaction is a transaction in which the reporting organization acts as an agent, trustee, or intermediary for another party. Nonprofit entities may also act as agents, trustees, or intermediaries by facilitating donations from one entity to another. When a nonprofit acts in such a capacity the nonprofit does not […]
September 29, 2021

Anne Bromet-Jagodits

Anne Bromet-Jagodits is a Managing Consultant in Aronson LLC’s Government Contract Services Group. Anne began her career with Raytheon Technical Services (RTSC) starting as a Financial Analyst developing functional Indirect Budgets and preparing Forward Pricing Rate Proposals (FPRP) for the $2B division.  Anne then moved to a $500M RTSC Business Unit where she was responsible for […]
September 28, 2021
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Troy Cornell

Troy Cornell is a Business Development Manager in Aronson’s Business Development and Marketing Team, serving construction and real estate stakeholders. In this role, Troy brings his 5 years of experience to develop and manage business development strategy, identify key prospects, and build and maintain relationships with key referral partners.   Prior to Aronson, Troy was […]
September 28, 2021
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Aronson LLC’S Services For Hospitality Operations Owned by Private Equity Firms

At Aronson, our Hospitality Services Group helps restaurants, hotels, wholesale distributors, food manufacturers, and other hospitality businesses stay on firm financial footing, improve operational efficiency, and increase their bottom line. We combine our technical area specialties and industry experience to help service your business’ current needs and future activities. Our Services and Value We believe […]
September 24, 2021

Tax Legislation on the Horizon in September Budget Resolution

The U.S. House Ways and Means Committee have completed a four-day mark up of crucial tax provisions to be included in “The Build Back Better Agenda” Act. Earlier this year, the Biden Administration released its fiscal year 2022 proposed Budget accompanied by the “Greenbook” which outlined the proposed changes to federal tax laws and the […]
September 17, 2021