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Gross Mendelsohn Blog

A resource to help business owners, nonprofit executives and high net worth families preserve wealth, grow and thrive.

Billing Schemes: 3 Ways Fraudsters Can Cash In On Your Nonprofit

Despite what many of us would like to believe, fraud schemes continue to plague the nonprofit sector. Difficult to spot and even harder to catch, fraudsters are often employees with a degree of authority and can go years without detection, making fraud...
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Guidance for Protecting Your Overhead Rate from Overzealous Auditors

If your architecture, engineering or construction firm has been contracted to provide services to state or local governments, it’s imperative that you understand your firm’s indirect cost rate and how to navigate the FAR and AASHTO Audit Guide.
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Unallowable Expenses and the Art of Lost Revenue and Profits

It’s unfortunate when government contractors lose revenue and profits because they lack controls, policies and processes for submitting allowable cost claims. Adding 10% or more to your top line could be as simple as doing more training or more review...
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How Government Contractors Can Avoid Unallowable Costs

A few years ago we were hired by a government contractor to help them with a pretty big problem: their auditor disallowed over $100,000 in costs, and consequently, the business took a 5% hit to their indirect cost rate.
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Best Practices for Government Contracting Time Reporting and Time Keeping

A few missed policies here, a lack of training there, a few insufficient time entry explanations later, and it’s simple to get an overhead rate that’s going to hurt your pocketbook when you do business with the federal or state government. One of the...
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4 Steps to Better Inventory Management for Manufacturers and Distributors

For many manufacturers and wholesale distributors, inventory is one of the company’s largest and most valuable assets. But it can also be one of the most costly for manufacturing and distribution and companies.
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