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A two-day program covering accounting systems in the context of general cost accounting concepts and processes adapted to the specific requirements for contracting with the Federal Government. Contracting professionals, finance, accounting, and management teams will benefit by attending this course together. A team discount is available.

This course is designed to explain the fundamentals of Government procurement regulatory requirements that affect a Government contractor’s accounting system, with an emphasis on cost accounting by contract. The instruction outlines the components of an acceptable contract cost accounting system in consonance with critical regulations governing those requirements. The instruction also discusses methods for adapting those regulatory requirements into a well-functioning compliant cost accounting system.

The course begins with a basic understanding of the Government’s procurement approach, types of contracts, key procurement players, and other information necessary to understand the importance of a cost accounting system. More detailed discussion follows covering requirements for identifying direct costs, pooling and allocating indirect costs, capturing unallowable costs, documenting all processes, and project ledger requirements. Our instructors will outline the dangers and pitfalls of ineffective accounting practices through real-life experiences from working in the government procurement environment. This course will benefit contractors who may be new in adopting or developing their accounting systems for government contracting and also for experienced contractors who want to modify and update their existing systems and practices.

One of the unique features of the course is the use of a practical case study which reinforces the application of compliant cost accounting system practices through a hypothetical Government contractor scenario. This case study will highlight cost objective identification features consistent with Government contract accounting requirements and illustrate sound practices in the design and implementation of a functioning cost accounting system. The case study and real-life experiences the instructors will share with you will help you apply what you’ve learned in the lecture. This learning methodology also facilitates discussion, questions, and answers.

We look forward to your participation.
Dates and Locations
February 22-23, 2012
Four Points by Sheration Huntsvilled Airport
Huntsville, AL
$1025.00
April 11-12, 2012
Crowne Plaza Orllando Airport
Orlando, FL
$1025.00
August 6-7, 2012
L'Enfant Plaza Hotel
Washington, DC
$1025.00
October 22-23, 2012
L'Enfant Plaza Hotel
Washington, DC
$1025.00
December 5-6, 2012
Platinum Hotel
Las Vegas , NV
$1025.00
Accreditation
This Program is eligible for:
11.0 (60 minute)
13.2 (50 minute)
This Program is eligible for:
13.0 (CPE) hours of credit
Program Level: Basic
Program Prerequisite: None
Advance Preparation: None
Method: Group-Live
This Program is eligible for:
11 (CLP) hours of credit
Related Downloads
Registration Form for fax-in registrations (PDF)
Daily Schedule
9:00 AM - 4:00 PM

1. Introduction to the Regulatory Environment

                a. Overview of the Federal Marketplace

                                1. Acquisition Cycle

                                2. The Regulatory Environment

                                3. Bid Proposals and Contract Award

                                4. Contract Performance and Closeout

                                5. Foundation Expectations of Government in Accounting Systems

                b. Main Players in Acquisition Process

                                1. Procuring Contracting Officer (PCO)

                                2. Administrative Contracting Officer (ACO)

                                3. Defense Contract Audit Agency (DCAA)

                                4. Inspector General (IG)

                c. Key Regulations Affecting Cost Accounting Systems

                                1. FAR Part 9 Contractor Qualifications

                                2. FAR Part 15 Contracting by Negotiations

                                3. FAR Part 16 Contract Types

                                4. FAR Part 31 Cost Principles

                                5. FAR Part 32 Contract Financing

                                6. Cost Accounting Standards (CAS)

                                7. Truth-in-Negotiations Act (TINA)

 

2. Establishing an Adequate Cost Accounting System

                a. Foundation Requirements

                                1. General Ledger Controls & Requirements

                                2. Financial Tracking and Profitability Evaluation

                                3. Subsidiary Systems Expectations

                                4. Chart of Accounts

                                5. Reconciliation Processes

                b. Basic Job Cost Accounting Expectations

                                1. Cost Segregation by Contract

                                2. Project Cost Ledger System

                                3. Tracking Unallowable Costs

                                4. Transaction Traceability to Subsidiary Ledgers

                                5. Requirements of SF 1408

                c. Specific Cost Accounting Provisions

                                1. Direct vs. Indirect Costs

                                                a. Understanding Direct Costs & Allocation Techniques

                                                b. Indirect Costs

                                                                (1.) Pooling Logical Cost Groupings

                                                                (2.) Selecting Appropriate Allocation Bases

                                                                (3.) Overhead vs. G&A

                                                                (4.) Intermediate Cost or Service Centers

                                                c. Consistency in Allocating Costs—CAS 402

                                2. Accounting for Unallowable Costs

                                3. Documentation Expectations

                                4. Timekeeping and Labor Charging

                                5. Billing System

                                                a. Relationship to Accounting System

                                                b. Billing Indirect Costs

                                                c. Monitoring Invoiced Amounts to Contract Ceilings

                                                d. Allowable Cost and Payment Contract Clause

                                6. Relationship of EVMS to Accounting System

 

3. Expanded Discussion of Selected FAR Part 31 Provisions

                a. Contracts Covered by FAR Part 31

                b. Selected Costs

                                1. Public Relations/Advertising

                                2. Bad Debts

                                3. Compensation

                                4. Contributions

                                5. Cost of Money

                                6. Employee Morale, Health & Welfare

                                7. Entertainment

                                8. Fines & Penalties

                                9. IR&D/B&P

                                10. Interest

                                11. Lobbying

                                12. Organization

                                13. Professional & Consultant Costs

                                14. Relocation

                                15. Rental

                                16. Selling & Marketing

                                17. Trade, Business Technical & Professional

                                18. Employee Travel

 

4. Overview of Government Contract Audits Linked to Cost

Accounting Systems

                a. Bid Proposals

                b. Accounting System Audits

                c. Provisional Indirect Billing Rates

                d. Incurred Cost Proposals

                e. CAS Compliance

                f. Estimating Systems

                g. Timekeeping & Labor Charging

                h. Billing Systems

                i. Financial Capability

                j. Purchasing System

                k. Defective Pricing

 

5. Case Study on SAMPLECO Contractor

                a. Designing Compliant Chart of Accounts

                b. Segregation & Tracking of Unallowable Costs

                c. Direct vs. Indirect Cost Identification

                                1. Identifying Direct Costs

                                2. Charging Indirect Costs to Appropriate Cost Center

                d. Indirect Cost Centers

                                1. Overhead

                                2. General & Administrative

                                3. Intermediate/Service Centers

                                4. Assigning Appropriate Allocation Bases

                e. Calculating and Tracking Actual Indirect Rates

                f. Job Cost Reports

                                1. Grouping Direct Costs by Job/Contract

                                2. Using Provisional Indirect Rates

                g. Billing System Considerations

                                1. Billing from Job Cost Summaries

                                2. Adjusting Provisional to Actual Indirect Rates

                h. Charging & Tracking Costs for Four Typical Types of Contracts

Government Contract Accounting Systems Compliance Course Curriculum

Michael E. Steen, CPA, is a Senior Managing Consultant in Beason & Nalley’s Government Contract Consulting Group. Prior to joining Beason & Nalley in 2007, Mr. Steen was employed with DCAA as a senior executive. Mr. Steen was responsible for the management of audits of approximately $25B annually and management of agency resources approximating 800 employees. He was also involved in conducting or managing a variety of compliance audits, to include cost proposals, internal controls and related systems, Cost Accounting Standards, claims, defective pricing, and special programs. He was also actively involved in contract disputes and litigation, and has prepared and presented various lectures and seminars to DCAA staff and business community leaders. Mr. Steen  also served as a member of the Executive Steering Committee for DCAA during his tenure as a Regional Director.

Cynthia Dunn is a Senior Managing Consultant for Beason & Nalley, Inc., resident in the company’s Reston, VA office. Ms. Dunn has over 20 years experience in the government contracting industry and public accounting/consulting. Ms. Dunn assists clients with establishing indirect cost rate structures, DCAA issues, incurred cost submissions, developing budgets and forecasts, policies and procedures, Service Contract Act and Davis-Bacon Act issues. She assists in the restructuring of a purchasing system and the policies and procedures to pass a DCMA CPSR. She has also reviewed business processes and assisted management with strategic planning and contract management issues. Prior to joining Beason & Nalley, Inc., Ms. Dunn has been a Division Vice President/Controller for large Government contractors, where she was responsible for managing the accounting (G/L, A/R, A/P, payroll and financial reporting), contracts, human resources and compliance functions (DCAA and Sarbanes-Oxley). Ms. Dunn also spent four years as the manager of Internal Audit for a large government contractor and six years as an auditor in public accounting. Her areas of expertise include financial accounting, internal controls, cost accounting and indirect rates, government compliance (DCAA, FAR and CAS) and internal audit.

Courtney Edmonson, CPA, is a Managing Government Contracts Consultant with Beason & Nalley, Inc. and provides consulting services for our government contractors. Ms. Edmonson has been a Consultant with Beason & Nalley for seven years. Ms. Edmonson has over four (4) years audit experience along with experience with Federal Acquisition Regulation (FAR) compliance and Cost Accounting Standards (CAS), evaluation and preparation of Cost Presentations, cost accounting systems setup reviews, and policy and procedure preparation. Ms. Edmonson’s specific experience includes revenue recognition issues, contract review, indirect rate calculation and analysis, incurred cost proposal preparation, CASB Disclosure Statements preparation and review, accounting system policy and procedure preparation and review, invoicing and overall financial presentation from a GAAP (Generally Accepted Accounting Principle), small company risk assessment and government regulatory aspect.

Accreditation
This Program is eligible for:
11.0 (60 minute)
13.2 (50 minute)
This Program is eligible for:
13.0 (CPE) hours of credit
Program Level: Basic
Program Prerequisite: None
Advance Preparation: None
Method: Group-Live
This Program is eligible for:
11 (CLP) hours of credit
Crowne Plaza Orllando Airport
5555 Hazeltine National Dr
Orlando, FL 32812
Four Points by Sheration Huntsvilled Airport
1000 Glenn Hearn Blvd SW
Huntsville, AL 35824
L'Enfant Plaza Hotel
480 L'Enfant Plaza SW
Washington, DC 20024
Platinum Hotel
211 E. Flamingo Rd
Las Vegas , NV 89169
Register Now for:
Accounting Compliance for Government Contractors
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Date Location
February 22-23, 2012 Huntsville, AL
April 11-12, 2012 Orlando, FL
August 6-7, 2012 Washington, DC
October 22-23, 2012 Washington, DC
December 5-6, 2012 Las Vegas , NV
By Phone
Call (888) 494-3696
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