BridgePhase’s Post

Congrats to the United States Marine Corps for passing their full financial audit. This is the first time a military branch has passed their financial audit on the first attempt 🤯. How did they do it? Well… ✔️Leaders made it a priority and followed through on prioritizing financial accountability. Crazy concept right?!? ✔️They updated their software to meet todays needs. Turns out excel only takes you so far… ✔️ They worked with auditors to have enough time to do it right. So how does this apply to your small business’s books? 1️⃣ Make managing your books a priority. In other words: partner with a firm that will help you prioritize! 2️⃣ Use the right tool for the job! We use QuickBooks online because it meets the needs of our businesses. 3️⃣ Tax time is coming… if you need more time work with your financial partners to ensure you are set up for success. Need help prioritizing your books? Feel free to reach out for a free consultation today! #bookkeeping #quickbooksonline #taxtime https://lnkd.in/gwGTPTKp.

Discover the key updates in the recently published Federal Maritime Commission (FMC) budget for FY25. Learn about staffing, restructuring, case prioritization, and more. CLICK TO READ...https://bit.ly/3TrIw0q #fmc #beic #osra

"The March of Accounts: Commanding Financial Fates" "The March of Accounts: Commanding Financial Fates" is a compelling exploration into the orchestrated movements and strategic implementations within the financial sector, particularly highlighting the pivotal month of March. This poetry delves into the annual urgency of financial reconciliations, audits, and the finalization of accounts that occur as organizations and individuals prepare to close their fiscal year. Through a unique juxtaposition of military command and the meticulous nature of accounting, the poem draws parallels between the disciplined approach of an army commander and the rigorous precision required by accountants during this critical period. The narrative unfolds within the framework of command control operations, portraying accountants as strategists and executors who navigate through the complexities of financial statements, ensuring that every transaction is meticulously accounted for and placed within the correct segment of balance sheets. This period of financial closure is depicted not just as a task of numeric reconciliation but as a significant event that requires careful planning, execution, and leadership to steer organizations towards fiscal compliance and health. In essence, the poem underscores the relentless march toward financial accountability and transparency, emphasizing the strategic importance of this time in sustaining the economic foundation of businesses and societies alike. It celebrates the unsung heroes of the financial world, whose precision and dedication ensure the integrity of financial reporting and compliance, ultimately contributing to the broader economic stability and growth.

Did you know in 2023, the Defense Contract Audit Agency examined $351.8 billion in contract costs and issued 2,312 audit reports? Get ahead of an audit with Nue's DCAA-compliant budgeting solution: https://bit.ly/40Wy5Ul

Today, the DoD OIG releases “Understanding the Results of the Audit of the FY 2023 DoD Financial Statements.” As in prior years, the DoD could not provide us with sufficient evidence for our auditors to conclude whether the DoD fairly presented its financial statements in accordance with accounting guidance. This report explains and discusses the findings of our audits of the DoD financial statements, the progress made by the DoD, and the additional actions the DoD should take to address the overall audit findings. This report also focuses on material weaknesses that are scope-limiting, meaning they prevented our auditors from performing the necessary procedures to draw a conclusion on the financial statements, and the substantial collaborative effort needed from all DoD and non-DoD stakeholders to obtain an unmodified, or clean, audit opinion by FY 2028: https://lnkd.in/gFE5nnmf

At KDuncan and Company, our commitment to excellence in accounting for government contractors has made a significant impact across various industries. With over 100 satisfied clients nationwide, we take pride in delivering tailored solutions that address the unique challenges faced by government contractors. Our clients often share their experiences, highlighting the dedication and expertise that KDuncan and Company brings to the table. From streamlining financial processes to ensuring compliance with government regulations, we strive to empower our clients to focus on their core business operations. The trust placed in us is reflected in the long-lasting partnerships we’ve built, allowing us to contribute to the growth and success of businesses in sectors such as defense, construction, and IT. We understand that every client has distinct needs, which is why we take the time to listen and customize our services accordingly. The positive feedback we receive motivates us to continue refining our approach and expanding our knowledge in this specialized field. Explore more about our journey and what our clients have to say about us at https://lnkd.in/e_cwVu45. #KDuncanAndCompany #AccountingExcellence #GovernmentContractors #ClientSuccess #BusinessGrowth #FinancialSolutions #AccountingServices #ClientTestimonials

At KDuncan and Company, our commitment to excellence in accounting for government contractors has made a significant impact across various industries. With over 100 satisfied clients nationwide, we take pride in delivering tailored solutions that address the unique challenges faced by government contractors. Our clients often share their experiences, highlighting the dedication and expertise that KDuncan and Company brings to the table. From streamlining financial processes to ensuring compliance with government regulations, we strive to empower our clients to focus on their core business operations. The trust placed in us is reflected in the long-lasting partnerships we’ve built, allowing us to contribute to the growth and success of businesses in sectors such as defense, construction, and IT. We understand that every client has distinct needs, which is why we take the time to listen and customize our services accordingly. The positive feedback we receive motivates us to continue refining our approach and expanding our knowledge in this specialized field. Explore more about our journey and what our clients have to say about us at https://lnkd.in/eP8aGi4v. #KDuncanAndCompany #AccountingExcellence #GovernmentContractors #ClientSuccess #BusinessGrowth #FinancialSolutions #AccountingServices #ClientTestimonials

Capital Edge Consulting's Quarterly Newsletter has arrived! JOIN HERE to receive the Q1 newsletter: https://lnkd.in/eRMWeyWT Take a deep dive into the Fiscal Year 2024 National Defense Authorization Act (NDAA) and its path through the federal rulemaking process. Learn about the evolution of the Cost Accounting Standards Board (CASB) and its efforts to modernize practices, aligning with Generally Accepted Accounting Principles (GAAP) and addressing contemporary challenges in government contracting. Analyze the Government’s attempts to address and ease inflationary pressures on contractors through changes proposed in Title VIII of the FY2024 NDAA impact the Federal Acquisition Regulation (FAR) and Defense Federal Acquisition Regulation Supplement (DFARS). Discover how changes in regulations affect contractors and agencies alike, and stay informed about the latest developments in federal procurement. Q1 2024 Edition Articles include.... 📰 Cost Accounting Standards Board—Historical Context and Modern-Day Expectations 📰 The FY2024 NDAA and its Nexus to the FAR and DFARS 📰 Authorization and Appropriation of Funds and Inflation Relief under Fixed-Price Contracts Stay tuned for the Q2 Newsletter! #govcon #newsletter #regulatoryupdates #compliance #CAS

NAF Chief Hasan Abubakar stresses the importance of financial accountability in enhancing the Air Force's readiness and operational success. The 2024 Finance Seminar aims to equip officers with the skills needed to manage resources more prudently. Read more for details on this key address. #NAF #FinancialAccountability https://lnkd.in/dxChQ_YH

❗️ The process of forming supervisory boards for two state agencies responsible for defense procurement is ongoing. The supervisory board of the Defense Procurement Agency will consist of five members — three independent and two state representatives. Independent members will be selected from among 12 candidates from six countries. Among the candidates: four from Ukraine, two each from the USA, the United Kingdom, and Poland, and one each from Germany and France. The supervisory board will approve strategies, financial plans, monitor the director's activities, approve deputy candidates, and develop anti-corruption policies👇 Similarly to the Defense Procurement Agency, the supervisory board of the State Logistics Operator (SLO) will consist of three independent members and two state representatives. Among the nine candidates for independent members: three from Ukraine, and one each from the United Kingdom, Denmark, Lithuania, Norway, Turkey, and the Czech Republic. The Independent Anti-Corruption Commission (NAKO) welcomes such initiatives, says the organization's executive director Олена Трегуб. The need for supervisory boards has been evident for a long time, but they are being created only now, in the third year since the start of the full-scale invasion. This means that governance reforms are not stopping but are actually accelerating during the war👆 "NAKO” was the first civil society organization to start working on advocating for the implementation of corporate governance standards in the defense sector. “NAKO” very successful experience was that we managed to achieve the creation of a supervisory board in Ukroboronprom during Petro Poroshenko's presidency. Therefore, we certainly saw that alongside the creation of one or two procurement bodies under the Ministry of Defense, corresponding supervisory boards should be established," – Tregub states.