Many federal SBIR/STTR Agencies require proof that you have an acceptable accounting system established before they will award a Phase II contract or grant that is determined by an audit of the accounting system. In addition, many agencies will perform an audit of your cumulative award costs at the conclusion of the research project. The complete GAP system is set up to follow Federal Acquisition Regulations (FAR) and all accounting principles required for government accounting. With proper implementation, GAP ensures that your Accounting System will be acceptable and keep you compliant for Government Audits.
This 2 hour class is designed to take a high level review of the accounting process and how to use GAP. A good pre-requisite to Using GAP is the Accounting, Budgeting, and Contracting class available on DVD.
