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Microsoft dynamics 365 for finance3/29/2024 To achieve this, the DCAA provides recommendations and guidance based on Federal Acquisition Regulations (FAR), Cost Accounting Standards (CAS), and the Generally Accepted Government Audit Standards (GAGAS). The agency verifies that contractors are financially capable of delivering products and services, and that they are accurate in the costs they bill to the government. The Defense Contract Audit Agency (DCAA) oversees the auditing of contractors who do business with the Department of Defense, and other government agencies often recruit them to provide audit consultations. Microsoft Dynamics 365 helps contractors achieve this. In terms of financial practices and transparency, many government contractors find themselves struggling to consistently maintain compliance with the Defense Contract Audit Agency (DCAA).Ī key part of DCAA compliance is utilizing robust financial software that enables transparency regarding the costs of government contracts. Nearly all enterprises face the challenge of complying with government regulations, but those that do business with the government directly face an additional layer scrutiny.
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