An accelerated, comprehensive two day course on the practical, legal, accounting, and management systems implications in the use of various contract types.

This course is designed for both new and experienced contract professionals. For new employees, it explains the different contract types and their uses. For experienced employees, it is a refresher and an update examining the various contract types and the new, innovative types of contracts in use. It includes an analysis of the risks inherent in contracting and the role of risk management in both fixed-price and cost-reimbursement contracting. In fact, risk considerations are the primary drivers behind renewed Congressional interest in moving toward fixed-price contracts.

This course is different from others in that it does more than explain the differences between and among the various types of contracts. Its purpose is to outline the practical, legal, accounting, and management systems implications in the use of each type of contract. Its end objective is to provide both new and experienced employees with a greater understanding of contract implications so that they may better administer and manage their own contracts.

An exceptional faculty with extensive teaching, legal, accounting, and management experience will facilitate the course.

The Course Curriculum

1. Procurement Methods
   1. Simplified Acquisition Procedures
   2. Sealed Bidding
   3. Contracting by Negotiation
   4. Acquisition of Commercial Items
   5. Performance-Based Contracts
   6. Special Contracting Methods

2. Contract Types - (Description, application, management burdens, limitations and clauses)
   1. Selecting Contract Types
      • Assessing contract risk
      • Sharing contract risk
   2. Fixed-Price Contracts
      • Firm-fixed-price contracts
      • Fixed-price contracts with economic price adjustment
      • Fixed-price incentive contracts
      • Fixed-price contracts with award fees
      • Fixed-price contracts with prospective price re-determination
      • Fixed-price contracts with retroactive price re-determination
      • Firm-fixed-price, level-of-effort term contracts
   3. Cost-Reimbursement Contracts
      • Cost contracts
      • Cost-sharing contracts
      • Cost plus-incentive-fee contracts
      • Cost-plus-award-fee contracts
      • Cost-plus-fixed-fee contracts
   4. Indefinite-Delivery Contracts
      • Definite-quantity contracts
      • Requirements contracts
      • Indefinite-quantity contracts
      • Ordering
   5. Other Contracts Types
      • Time-and-Materials contracts
      • Labor-hour contracts
      • Letter contracts
   6. Agreements
      • Basic agreements
      • Basic ordering agreements

3. Financial and Accounting Considerations for Different Contract Types
   1. Pricing and Cost Estimating
      • Truth in Negotiations Act
      • Submission of cost or pricing data
      • Defective Pricing
   2. Indirect Rates
      • Forward pricing rates
      • Provisional billing rates
      • Revenue booking rates
      • Actual rates
      • Quick close-out rates
   3. Billing Methods and Revenue Recognition
      • Milestone billings
      • End item billings
      • Cost vouchers
      • Progress payments
      • Advance payments
      • Liquidation issues
      • Percentage of completion, cost-to-cost method
      • Commercial payment schedule
   4. Government Audit Rights
      • Pre-award audits
      • Post award audits
      • Incurred cost submissions
      • System reviews

4. Contract Close-out Issues
   1. Quick Close-Out Procedures
   2. Contract Retentions and Holdbacks
   3. Final Billing and Payment
   4. Document/Records Retention

Course Faculty

Mark K. Roberts  is a Director with PricewaterhouseCoopers, Government Contracts Practice, in Washington, DC. Mr. Roberts has over twenty-three years in experience in government contracts having worked in private industry, public accounting and at a law firm serving as a consultant and litigation specialist. For the past nineteen years he has served as a consultant and expert witness with major public accounting firms working primarily in the aerospace, defense, health care and construction industries.

Mr. Roberts assists companies in resolving complex financial and accounting issues relating to pricing, costing, and the administration of government contracts. He reviews and evaluates contractor's accounting, estimating, contract administration and procurement systems for compliance with applicable federal procurement regulations. Mr. Roberts has extensive experience in designing cost accumulation and allocation systems to ensure that costs are accumulated and allocated in a uniform, consistent and accurate manner. He has evaluated and/or designed cost accounting systems for ship builders, aircraft manufacturers, construction contractors, munitions manufacturers, insurance companies, U.S. airlines, engineering companies, and others.

Mr. Roberts consults with companies on matters concerning compliance with the Cost Accounting Standards ("CAS") including: applicability of CAS and disclosure statement filing; preparation of disclosure statements; and accounting for cost accounting practice changes. Mr. Roberts assists companies in preparing requests for equitable adjustments under contracts and in preparing contract claims. Mr. Roberts has a Bachelor of Arts degree in Economics from Harvard University.

Brian A. Darst  is Of Counsel with the firm of Odin, Feldman & Pittleman in Fairfax, Virginia, specializing in legal matters involving government and commercial contract law. He has extensive experience in the areas of bid protests, claims preparation and litigation, internal investigations, voluntary disclosures, procurement fraud investigations, various contract formation and administration issues, suspension and debarment proceedings, matters related to the Small Business Administration, and other issues involving the award and administration of federal and state government contracts. Mr. Darst's practice also includes assisting clients with matters related to the sale and acquisition of firms involved in government contracting, software licensing issues, and other corporate governance matters.

Mr. Darst has successfully represented numerous corporate clients before the United States Government Accountability Office, various Boards of Contract Appeals, the Small Business Administration, the Federal Aviation Administration, District Courts and the United States Court of Federal Claims.

Mr. Darst is admitted to practice in the District of Columbia, Virginia and West Virginia. He is admitted to practice before the United States Supreme Court, the United States Court of Federal Claims, the Court of Appeals for the Fourth Circuit, and the United States District Courts for the Eastern District of Virginia and the Southern District of West Virginia.

Mr. Darst earned his B.A. from Marshall University and his J.D. from West Virginia University. After graduating from Law school, Mr. Darst worked as an attorney with the United States Navy's Office of General Counsel and represented the Navy in matters involving the acquisition and administration of service and supply contracts for the Naval Sea Systems Command