This course is designed especially for non-financial managers, administrators, technical professionals, executives, legal counsel, and line and staff personnel who must understand the contract cost, accounting, and financial aspects of government contracting. Its purpose is to increase your overall effectiveness as a contract professional.

The course approach is both wide - focusing on the big picture and how the entire system works, and narrow - scrutinizing the day to day activities in finance and accounting contract issues. If you work with government contracts, you will benefit from clear, non-technical explanations in areas such as:

• Pre-award cost issues
• Cost Accounting Systems
• Direct and Indirect costs
• Cost pools
• Contract funding
• Progress payments
• Incurred costs
• Scope changes
• Audits
• Closeouts

Compressed to essence, much of this course is concerned with financial controls - what controls are generated and should be generated, what figures and reports mean, and what managerial responses are called for. It's a formidable package to teach - a package requiring a person with special knowledge, special experience, and - of prime importance - special instructional ability. And that summarizes the background and skills of our Course Director, Charles Wilkins of FTI Consulting in Washington, D.C.

1. Financial & Cost Rules/Guidance in Federal Procurement
   1. Public Law
   2. Federal Acquisition Regulation
   3. Agency Supplemental Regulations
   4. Cost Accounting Standards
   5. Generally Accepted Accounting Principles
   6. FAR Cost Principles (Part 31)
   7. Generally Accepted Auditing Standards

2. Pre-Award Cost Issues
   1. Cost Accounting Systems
   2. The Internal Cost Structure
      • Direct cost
      • Indirect cost
      • Cost pool structure
      • Other direct cost
      • Labor/Overhead rates
      • Capitalized expenditures
   3. Pre-Award Surveys
   4. Assessing Contractor Risks
   5. Solicitations and Invitations for Bid
   6. Understanding the Scope of Work
   7. Developing the Statement of Work
   8. Pricing Estimating strategies
   9. Bidding Rates (Labor & Overhead)
   10. Developing Cost/Schedule Proposals

3. Types of Contracts
   1. Fixed Price
   2. Cost Reimbursement
   3. Other
   4. Accounting Implications

4. Contract Funding
   1. Full Funding
   2. Incremental Funding
   3. Internal Funding
   4. Reserves and Contingencies
   5. Spending vs. Funding

5. Contract Financing
   1. Progress Payments
   2. Loss Contracts
   3. Ordinary and Alternate Liquidation Rates
   4. Contract Payments
   5. Interest Penalties

6. Incurred Costs
   1. Allowability
   2. Allocability
   3. Reasonableness
   4. Advance Agreements
   5. Billing Rates (Labor & Overhead)
   6. Limitation of Cost/Funds Clauses
   7. FAR Cost Principles - Part 31
   8. Truth in Negotiations Act
   9. Penalties for Claiming Unallowable Costs

7. Scope Changes and Contract Cost/Schedule
   1. Formal Change Orders
   2. Constructive Changes

8. Government Audits
   1. Entrance & Exit Conferences
   2. Pre-Award Audits
   3. Post-Award Audits
   4. Managing Audits

9. Contract Closeout
   1. Final Rates (Labor & Overhead)
   2. Incentive Price Provisions
   3. Contract Profitability
   4. Quick Closeout
   5. Normal Closeout

Charles L. Wilkins   is Senior Managing Director of FTI Consulting in Washington, D.C., where he is responsible for the firm's national public contract litigation and dispute management practice. He provides litigation and dispute resolution services on public contract and commercial matters in variety of industries, including, among others: aerospace; defense; health care; construction; energy; transportation; and environmental.

Mr. Wilkins has more than 35 years of experience involving public contracts. For nearly 20 years, he served as international auditor, controller, vice president and chief financial officer, and vice president of business operations in aerospace and defense organizations. In those positions he was involved in or was responsible for compliance issues involving federal statutes and regulations, mergers and acquisitions, organizational structuring, optimization of capital employed, litigation/dispute resolution, and other activities.

Mr. Wilkins is a certified public accountant who holds undergraduate degrees from LaSalle University and California State University. He completed the Executive Program (M.B.A) through the University of California. He holds active associate memberships in the public contract, general practice, and business law sections of the American Bar Association (ABA). He is a member of the ACIPA, the California Society of CPA's, and the National Contract Management Association. He is active in the health care, cost and pricing, and suspension/debarment committees of the public contract section of the ABA and is a frequent speaker at legal and industry forums including the ABA, FBA, NCMA, and others.