FIND BY MONTH
FIND BY LOCATION
IN-HOUSE TRAINING
Bring any seminar or course directly to your staff through the Federal Publications’ In-House Presentations Program.
  Public     In-House

A comprehensive course in Government contract requirements with key instruction by specialists in accounting and law.

Now required for both Defense and Civilian agencies.

Includes coverage of new 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
February 7-9, 2012
L'Enfant Plaza Hotel
Washington , DC
$1125.00
April 3-5, 2012
L'Enfant Plaza Hotel
Washington, DC
$1125.00
August 8-10, 2012
L'Enfant Plaza Hotel
Washington, DC
$1125.00
October 2-4, 2012
L'Enfant Plaza Hotel
Washington, DC
$1125.00
November 27-29, 2012
Courtyard Marriott Long Beach Downtown
Long Beach, CA
$1125.00
Accreditation
This Program is eligible for:
13.75 (60 minute)
16.5 (50 minute)
This Program is eligible for:
16.0 (CPE) hours of credit
Program Level: Basic
Program Prerequisite: None
Advance Preparation: None
Method: Group-Live
This Program is eligible for:
14.0 (CLP) hours of credit
Related Downloads
Registration Form for fax-in registrations (PDF)
Daily Schedule
Day 1
9:00 AM - 4:00 PM
Day 2
9:00 AM - 4:00 PM
Day 3
9:00 AM - 12:00 PM

The Course Curriculum & Faculty

Day One

9:00 The CAS System: Administration and Enforcement

Gregory A. Smith, Partner, Cooley Godward Kronish LLP

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

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

Kevin C. Dwyer, Partner, Jenner & Block

  • 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 is a partner in the Government Contracts practice group and a member of the Cooley Godward Kronish Litigation department.  He joined the Firm in 2006 and is resident in the Reston, Virginia office.
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, and 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.
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.
In 2007, Mr. Smith was designated by the Washington Business Journal as one of the three "Top Washington Lawyers" in Government Contracts.
In 2005, Mr. Smith was named among Washington's Legal Elite by Washington SmartCEO magazine.
Mr. Smith served as law clerk to the Honorable Marion T. Bennett, U.S. Court of Claims (now the U.S. Court of Appeals for the Federal Circuit).  He has published numerous technical and legal articles on government contract issues in various professional journals.
Mr. Smith received his J.D. from the University of Virginia and his A.B. from Miami University.  He is a member of both the Virginia and the District of Columbia Bar Associations.

Terry L. Albertson is a partner in the Washington, D.C. law firm of Crowell & Moring LLP, specializing in Government procurement law. Mr. Albertson is active in a number of trade and professional organizations. For several years, he served as Chairman of the Committee on Accounting and Cost and Pricing of the Public Contract Law Section of the American Bar Association. A member of The Government Contractor Advisory Broad, he has written and lectured frequently on Government procurement issues, with special emphasis on cost allowability issues, multiple award Federal Supply Schedule contracts, and issues related to fraud, debarment, and suspension. He received a Bachelor's degree from Georgetown University, magna cum laude, and Master's degree from Yale University, and a law degree from Harvard Law School, cum laude,. He is a member of the Bars of State of Maryland and the District of Columbia

Christopher Pockney
 leads 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.

Kevin C. Dwyer

Louis I. Rosen
Dr. 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.

Dr. Rosen earned a B.S. in Accounting, an MBA in Management, and a D.B.A. in Accounting at the University of Maryland.  In addition, 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.

Accreditation
This Program is eligible for:
13.75 (60 minute)
16.5 (50 minute)
This Program is eligible for:
16.0 (CPE) hours of credit
Program Level: Basic
Program Prerequisite: None
Advance Preparation: None
Method: Group-Live
This Program is eligible for:
14.0 (CLP) hours of credit
Courtyard Marriott Long Beach Downtown
500 East First Stree
Long Beach, CA 90802
L'Enfant Plaza Hotel
480 L'Enfant Plaza SW
Washington , DC 20024
Register Now for:
Cost Accounting Standards
close window
Register Online
Date Location
February 7-9, 2012 Washington , DC
April 3-5, 2012 Washington, DC
August 8-10, 2012 Washington, DC
October 2-4, 2012 Washington, DC
November 27-29, 2012 Long Beach, CA
By Phone
Call (888) 494-3696