Director Pete McDonald of Navigant’s Government Contractor Services practice addresses what Government contractors need to know about IFRS in the Government Contract Costs, Pricing & Accounting Report. The convergence to IFRS will impact Government contractors as much as any other businesses. A decade ago, many regarded IFRS as something that would likely happen in the future. Now that the future is here, this article focuses on accounting matters for those with the greatest need to understand cost and pricing issues. Still, non-accountants working under Government contracts, particularly those with managerial responsibilities, should also have familiarity with the subject matter.