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Who should attend:

This course is designed for any contractor currently or expect to be subject to the Cost Accounting Standards Rules. The course is geared for both new or experienced professionals in the area of accounting, finance, compliance, program management and contract management.

What you will learn:

This program is a comprehensive course in contract requirements related to the CAS with key instruction by specialists in both accounting and law.

Coverage includes of developments and any prospective implications of the Pension Protection Act of 2006.

They were born out of frustration - out of the Government's smoldering irritation in dealing with contractors' differing accounting practices and high-dollar claims for price increases. Yet, like them or not, they are here to stay. Indeed, they may aptly be compared to the so-called "truth in negotiation" requirements which (whatever may be their weaknesses) will probably always be part of the procurement picture.

It all began in 1970, with the passage by Congress of the statute which created the Cost Accounting Standards Board and charged that Board with the duty of prescribing Standards for realization of "uniformity" and "consistency" in contractors' cost accounting practices. The resulting Standards have, predictably, had a major impact on the procurement process - an impact whose shock waves are still being felt.

So we all must accommodate to Cost Accounting Standards - we all, in plain words, must learn to live with them. It is for that reason that this special program has been developed.

Scope & Technique
Because the Cost Accounting Standards are complex - often hard to read, let alone understand - careful attention has been paid to the substantive content and instructional technique of this course. It starts with a finely crafted exposition of the system as a whole; follows this with consideration of the methods by which the Standards are administered and enforced; turns to an analysis of disclosure statements and of the Standards' relationship to recognized cost accounting practices-and, finally, swings into detailed study of the critical substantive Standards.

To assure understanding, maximum provision has been made for questioning by the audience. Toward that end instructors will (a) deliver information-packed lectures and (b) answer your questions-concentrating on particular aspects of their subjects which are of interest to you. Our purpose: To make certain that you learn the Standards' requirements and know what must be done to comply with them.

Dates and Locations
November 13-15, 2017
The Westin O'Hare - Chicago
Chicago, IL
$1350
REGISTER
DAILY SCHEDULE
Day 1
8:00 AM - 3:00 PM
La Jolla, Hilton Head and Las Vegas September Weeklong Conference Locations
9:00 AM - 4:00 PM
All Other Locations
 
Day 2
8:00 AM - 3:00 PM
La Jolla, Hilton Head and Las Vegas September Weeklong Conference Locations
9:00 AM - 4:00 PM
All Other Locations
 
Day 3
8:00 AM - 11:00 AM
La Jolla, Hilton Head and Las Vegas September Weeklong Conference Locations
9:00 AM - 12:00 PM
All Other Locations

The Course Curriculum & Faculty

Day One

9:00 The CAS System: Administration and Enforcement

Gregory A. Smith | Smith Pachter McWhorter PLC

The CAS System: A concentrated explanatory briefing on the scope, scheme, operating mechanisms, and general impact of the Cost Accounting Standards system. Applicability of Cost Accounting Standards and Disclosure Statement requirements to: (a) defense prime contracts and subcontracts, (b) non-defense prime contracts and subcontracts, (c) corporate divisions, (d) corporate subsidiaries. Relationship of Cost Accounting Standards to the allowability of costs. The contract clauses that implement the Standards — an analysis of their provisions, functions, and application.

Administration & Enforcement: Duties and rights of Government contractors and their subcontractors. Responsibility of the procuring agencies for administration and enforcement of the Standards. The critical cost impact of changes (required by the Standards in cost accounting prices). Adjustments in contract prices — upward and downward — resulting from the Standards. Procedures for negotiating price adjustments including coordinated negotiation. Current CAS problem areas.

1:00 Disclosure Statements; Cost Accounting Practices

Chris Pockney

Disclosure Statements: Their purpose, content, submission, review — a study of what’s required and what’s not.

Cost Accounting Practices: A survey of acceptable accounting systems, reasonable cost accounting practices, and the Accounting Standards relating to these areas.

  • Standard 401 — Consistency in Estimating, Accumulating, and Reporting Costs
  • Standard 402 — Consistency in Allocating Costs Incurred for the Same Purpose
  • Standard 405 — Accounting for Unallowable Costs
  • Standard 406 — Cost Accounting Period

Day Two

9:00 Compensation of Personnel

Terry L. Albertson, Partner, Crowell & Moring, LLP

  • Standard 408 — Compensated Personal Absence
  • Standard 412 — Compensation and
  • Measurement of Pension Costs
  • Standard 413 — Adjustment and Allocation of
    Pension Costs
  • Standard 415 — Accounting for the Cost of
    Deferred Compensation



1:00 Tangible Assets and Capital

Louis I. Rosen, President of Potomac Partners R & M, LLC, Founder of Government Contract Services, Ernst & Young, LLP

  • Standard 404 — Capitalization of Tangible Assets
  • Standard 407 — Use of Standard Costs for Direct Material and Direct Labor
  • Standard 409 — Depreciation of Tangible Capital Assets
  • Standard 411 — Accounting for Acquisition Costs of Material
  • Standard 414 — Cost of Money as an Element of the Cost of Facilities Capital
  • Standard 416 — Accounting for Insurance Costs
  • Standard 417 — Cost of Money as an Element of Cost of Facilities Under Construction

Day Three

9:00 Home Office, G&A Expense, Overhead, and IR&D

Deborah Nixon, Crosshair Advisors LLC

  • Standard 403 — Allocation of Home Office Expense
    to Segments
  • Standard 410 — Allocation of G&A Expense
  • Standard 418 — Allocation of Direct and Indirect Costs
  • Standard 420 — Accounting for IR&D and B&P Costs

12:00 Noon Adjournment

Analyses of Specific Standards
The critical current Cost Accounting Standards have been grouped into four substance-related categories that will be covered in the following sessions. For each category, the assigned Faculty member will: (a) explain the requirements of the Standards; (b) analyze their features — the good, the bad, the unusual; (c) point out any gaps or loopholes in their coverage; (d) indicate any inconsistencies that exist between the Standards and (i) generally accepted accounting principles, (ii) the cost principles applicable to Government contracts, and (iii) accounting for tax purposes; and (e) cover the mechanics and problems of transition from previously acceptable procedures to the Standards.

Gregory A. Smith | Smith Pachter McWhorter PLC

Mr. Smith is a former Chair of the American Bar Association's Section of Public Contract Law and is the current Chair of the U.S. Court of Federal Claims Advisory Council. His practice focuses on federal procurement counseling, dispute resolution and litigation, claim analysis and preparation.

Mr. Smith has represented domestic and international clients in negotiations with government agencies, and he has counseled clients extensively on matters involving defective pricing, cost accounting and contract performance disputes - including terminations, audits and investigations. He has represented subcontractors and prime contractors in claims before the U.S. Court of Federal Claims, U.S. Court of Appeals for the Federal Circuit, the U.S. district courts and courts of appeals, and he has tried complex cases before boards of contract appeals involving shipbuilding and other major claims. In addition, he has litigated contract award disputes before the Government Accountability Office and the federal courts. His practice also involves counseling and litigation involving security clearance issues.

The respected publication Chambers USA: America's Leading Lawyers for Business cites Mr. Smith for his government contracts practice.

In 2009, Mr. Smith was named a "Top Washington Lawyer" by The Washingtonian magazine in government contracts law.


Chris Pockney
Formerly led the Washington office of Ernst & Young’s Government Contract Services group within the Advisory Services practice. He provides federal contract advisory services to a broad range of clients including defense contractors, commercial contractors, non-profits, educational institutions and regulated utilities.He has assisted clients in numerous manufacturing and service industries including aerospace, nuclear energy, electronics, software, healthcare, construction and insurance across the globe.
Before joining Ernst & Young, Chris held management positions in the aerospace and defense industry. He was involved in a variety of government contracting activities including the preparation and negotiation of indirect rate submissions for the purposes of forward pricing, contract billing, final indirect rate settlements and termination claims; maintenance and update of the Cost Accounting Standards Board Disclosure Statement; preparation and negotiation of advance agreementsfor specific items of cost; and preparation of contractor independent research and development (IR&D) proposals to the government’s tri-services negotiators.
Chris has a bachelor’s degree in law and economics from Cambridge University in England and a master’s degree from San Francisco University. He is an associate member of the American Bar Association, where he is an active member of the Public Contract Law Section’s Commercial Products and Cost and Pricing Committees. He speaks, teaches and writes frequently on government contract matters and has been admitted as an expert witness at the Armed Services Board of Contract Appeals, state courts and in various mediation and alternative dispute resolution settings.

Terry Albertson

Terry L. Albertson is a senior counsel in the Washington, D.C. office of Crowell & Moring. He focuses on government procurement law. He received a bachelor's degree from Georgetown University, magna cum laude, in 1968, a master's from Yale University in 1969, and a J.D. from Harvard Law School, cum laude, in 1974. He is a member of the bars of the State of Maryland and the District of Columbia. He served in the United States Army from 1969 to 1971 and was awarded a Bronze Star for his service in Vietnam.


Mr. Albertson's practice focuses particularly on issues related to government contract cost, accounting, pricing, and termination issues. He represents contractors regularly at the various Boards of Contract Appeals and the Court of Federal Claims. He has tried a number of important cases concerning defective pricing, the Cost Accounting Standards, the allowability of costs, multiple award contracts, and terminations. He counsels contractors and participates in internal reviews and litigation about allegations of fraud, and has been involved in planning significant corporate mergers, divestitures, and reorganizations.

Deborah Tully

Deb is a Consulting Actuary and Partner in Pine Cliff Consulting, Inc. with over 22 years of experience in the employee benefits field.   Prior to joining Pine Cliff in 2016, she was the Senior Director of Compensation & Benefits Finance for Raytheon Company.  In her role at Raytheon, she was responsible for the financial management, government reimbursement, compliance and strategic analysis for all of Raytheon’s benefits programs.  Before joining Raytheon, Deb was a Consulting Actuary with Mercer, Aon and Buck Consultants.  Deb is a Fellow of the Society of Actuaries, a Fellow of the Conference of Consulting Actuaries, an Enrolled Actuary under ERISA and a member of the American Academy of Actuaries.  She received a Bachelor of Arts in mathematics and economics from Bucknell University in 1995.

Deb is an appointed member of the ERISA Advisory Council to the Department of Labor for 2015 through 2017 and  has testified before the House Ways and Means Committee on private sector employer pension plan issues.  She has also participated in various pension and benefits committees including the Financial Executives International Committee on Benefits Finance (previous Committee Chairperson), the American Academy of Actuaries Pension Committee, the Society of Actuaries Pension Section Council and the American Benefits Council Board of Directors and has presented to a variety of industry groups on employee benefits topics including Cost Accounting Standards related to pension plans.

Deb’s areas of expertise include:

Strategic evaluation of pension financial management options 

Government / legislative affairs related to benefits topics 

Pension considerations related to mergers and acquisitions

Financial forecasting of pension and benefits costs 

Actuarial assumption review and demographic experience analysis

SEC financial reporting (10-K, 10-Q, Proxy and 11-K filings), external auditor relations, and SEC issue resolution 

ERISA compliance and government filing requirements

Investor Relations communications related to pensions

Control environment evaluation and development under Sarbanes-Oxley 404


Certain specialized areas of focus relate to pension issues specific to employers performing work for the U.S. Government, including:

Cost Accounting Standards (CAS) and Federal Acquisition Regulation (FAR) expertise

Government contractor forward pricing and incurred cost submissions

Government Agency (DCMA / DCAA) interface and relations

Litigation support and testimony


Louis I. Rosen

Louis I. Rosen is the President of Potomac Partners R & M, LLC and the founder and former National Director of Ernst & Young’s Government Contract Services.

He is a leading advisor to companies doing business with the Government.  His services include interpretation, evaluation, and application of Government regulations to specific contract situations; preparation and review of contract-related systems; assistance and support in contract negotiation; training; claims preparation; resolution of disputes; compliance reviews; and litigation support and expert witness services.

Prior to joining Ernst & Young, Dr. Rosen served as Associate Director of the Cost Accounting Standards Board.  In this role, he contributed significantly to Cost Accounting Standard 410, “Allocation of Business Unit General and Administrative Expenses to Final Cost Objectives,” Cost Accounting Standard 418, “Allocation of Direct and Indirect Costs”, and the definitions of “Cost Accounting Practice” and “Change to a Cost Accounting Practice.”

Dr. Rosen has worked closely with Government procurement and audit agencies, industry associations, the accounting profession, and legal counsel.  He has advised on cost accounting issues involving virtually all Government procurement and audit agencies.  He has worked with non-profits, companies selling commercial products to the Government, as well as businesses using Federal Supply Schedules.  He has frequently testified as an expert witness on accounting matters.

Dr. Rosen served as chairman of the Government Contractors Guide Special Committee formed to revise the AICPA’s industry audit and accounting guide, “Audits of Federal Government Contractors,” and served as an advisor to the AICPA Defense Contractors Committee.  He has served as a member of the Association of Government Accountants’ National Research Board and Financial Management Standards Board and the Board of Advisors for the National Contract Management Association.  Dr. Rosen has served as a member of Department of Defense, General Accounting Office, and Office of Technology, U.S. Congress panels.

A frequent speaker on Government contract issues in forums across the country, Dr. Rosen is co-author of a widely used handbook, Government Contract Accounting.

Dr. Rosen is a member of the faculty of the University of Maryland’s Robert H. Smith School of Business.

Education

He received a JD from that University’s School of Law. A CPA in the State of Maryland, he is also a member of the Bar of the State of Maryland.  Other professional memberships include the American Institute of Certified Public Accountants, Maryland Association of Certified Public Accountants, National Contract Management Association, Association of Government Accountants, and American Bar Association

Deborah Nixon

In a career that has spanned four decades, there is little that Deborah Nixon has not seen. As a nationally recognized expert advising on strategic positioning and risk mitigation, she enables executives and their attorneys’ decision-making to achieve Government contracting objectives. As a consultant, executive, teacher and mentor, she has honed her skills and applied an exceptional depth and breadth of knowledge of the statutes, regulations and business practices governing organizations contracting with the Federal Government. Her experience, insight and passion have made her a sought-after speaker and advisor for those charged with navigating complex Government contracting challenges. With over 30,000 hours consulting with more than 500 clients – Deborah is committed to helping Government contractors thrive in this heavily regulated market space. 

Deborah’s professional services extend to Cost Accounting Standards; Contractor business systems and related internal controls; Contract pricing including commercial pricing and Federal Supply Schedule (FSS) contracts; Indirect cost rates throughout the contract lifecycle; External and internal restructurings including merger, acquisition and integration activities; Requests for equitable adjustments and contract claims including termination settlement proposals; Regulatory reserve analysis and Litigation support including providing expert witness testimony and preparing cost analysis before Government administrative boards, court of claims and arbitration proceedings in addition to internal investigations and disclosure efforts.

Prior to founding Crosshair Advisors, a national woman-owned boutique consultancy dedicated to helping companies and attorneys navigate complex US Government contracting regulations, Deborah was a Partner with Ernst & Young’s Government Contract Services practice where she retired after almost 25 years of service. Before becoming a consultant, she held management positions with both large and emerging growth Government contractors.

Presenting for industry and client forums in the U.S. and abroad for organizations including Federal Publications Seminars, American Conference Institute and Marcus Evans Group, Deborah is a thought leader shaping industry perspective in publications and sharing keen insights through her blog, website and other forums. She has appeared on television shows such as Government Contracting Weekly and the Washington Business Report discussing Government contracting issues.

Deborah is a licensed CPA in the District of Columbia and Virginia. She earned her B.S. in Finance and Economics and completed graduate accounting course work. She is a past chapter president of the Institute of Management Accountants and a member of the American Bar Association, National Contract Management Association, American Institute of CPAs and Greater Washington Society of CPAs where she has chaired the Government Contracting Council and was a member of the Board of Governors.

Armani Vadiee | Smith Pachter McWhorter PLC

Armani Vadiee is a partner at the law firm of Smith Pachter McWhorter PLC.  Mr. Vadiee's practice focus is government and commercial contracts. Mr. Vadiee provides counsel to domestic and international clients on a wide range of contracting issues including contract negotiation, contract terms and conditions, bid protests, contract changes and claim preparation, internal investigations, contract termination settlements, regulatory compliance and contract litigation. Mr. Vadiee has developed large-scale compliance programs for government contractors focused on contract compliance including accounting, export controls, data rights, subcontracting, and mandatory reporting requirements.

Mr. Vadiee has experience litigating contract disputes in federal and state courts and  administrative bodies including before the Civilian Board of Contract Appeals, the Armed Services Board of Contract Appeals, the United States Government Accountability Office, the United States Court of Federal Claims and the United States Court of Appeals for the Federal Circuit. 

Prior to law school, Mr. Vadiee was a contracting officer for a U.S. Department of Energy research laboratory and during law school clerked at the U.S. Government Accountability Office.

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This Program is eligible for: 16.5 (CPE) hours of credit
Program Level: Basic
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Method: Group-Live
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The Westin O'Hare - Chicago
6100 N River Road
Chicago, IL 60018
8476982089
RESERVATIONS AT GROUP RATE

Coffee, tea and water will be served throughout the day with an afternoon cookie break.  Breakfast and lunch are on your own.

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TRAVEL INFORMATION

Coffee, tea and water will be served throughout the day with an afternoon cookie break.  Breakfast and lunch are on your own.

Room Block Information

Get a 15% discount off the best available rate at the time of booking for this location. Click here.
100
Basic or fundamental subject matter is covered. Courses are geared to general knowledge or can be taken as a refresher.
200
Specific topics or issues within a topic area are covered. Students should be familiar with terms of art and general concepts concerning the course topic.
300
Workshops and class discussions cover specific subject matter in-depth, and participation is strongly encouraged. Attendees should have at least 2-3 years' experience in the area of study.
400
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500
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Cost Accounting Standards
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November 13-15, 2017 Chicago, IL
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