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Why Generally Accepted Accounting Principles (GAAP) Are Insufficient for Government Contract Cost Accounting

By Darrell Oyer The cost accounting regulations for contracting with the Federal government consist of many pages 1 of detailed principles, practices, rules and regulations, despite the fact that existing cost principles exist in the U.S. Generally Accepted Accounting Principles (GAAP) as well as in...

Why Generally Accepted Accounting Principles (GAAP) Are Insufficient for Government Contract Cost Accounting

By Darrell Oyer The cost accounting regulations for contracting with the Federal government consist of many pages 1 of detailed principles, practices, rules and regulations, despite the fact that existing cost principles exist in the U.S. Generally Accepted Accounting Principles (GAAP) as well as...