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Overview

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.

Learning Objectives: 

After completing this course, you will be able to:

  • Develop an understanding of the characteristics of the federal marketplace as it relates to CAS
  • Understand legal and regulatory reasons for CAS 
  • Recognize the difference between CAS and Modified CAS requirements
  • The application of CAS related to contracts
  • Identify the roles and responsibilities of auditors and enforcement
  • Recognize basic CAS Standards 
  • Apply basic CAS principles
Dates/Locations
July 28-30, 2021
The Westin Hilton Head Island
Hilton Head Island, SC
Travel Info
Standard: $1,450.00
Enhanced: $1,845.00
Register
September 15-17, 2021
The Flamingo Hotel
Las Vegas, NV
Travel Info
Standard: $1,450.00
Enhanced: $1,845.00
Register
October 18-20, 2021
Executive Conference & Training Center (ECTC)
Sterling, VA
Travel Info
Standard: $1,350.00
Enhanced: $1,745.00
Register
Agenda
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

Zachary D. Prince | 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

William Romenius

  • 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.

Experts
  • Stephen Knight
    Member, Smith Pachter McWhorter PLC
    Stephen D. Knight has practiced government contract law in excess of 40 years, counseling and litigating on behalf of clients in all aspects of that specialized practice. He has significant experience in claims and disputes, with special emphasis on costing and pricing issues involving cost allocabi...
  • Deborah Nixon
    Founder & Managing Officer, Crosshair Advisors
    Deborah Nixon, is a nationally recognized trainer, licensed Certified Public Accountant (CPA) and career dedicated Government contracts practitioner with over 30 years of experience. Deborah is the founder of Crosshair Advisors, and a retired Partner with Ernst & Young’s Government Contrac...
  • Chris Pockney
    Independent Consultant
    Chris Pockney has over 35 years of experience in Government contracts, primarily in the areas of contract pricing, accounting and administration. He provides advisory and training services to clients, primarily in the areas of contract pricing, cost accounting, contract administration and compliance...
  • Zachary D. Prince
    Member, Smith Pachter McWhorter
    Mr. Prince is a partner in the Government Contracts practice group. His practice encompasses all areas of government contract law. Mr. Prince counsels domestic and international clients on a wide range of issues, including compliance with federal and state regulations and statutes, bid protests, con...
  • Bill Romenius
    Independent Consultant
    Bill has significant Cost Accounting Standards (“CAS”) experience gained through positions held in both the public and private sectors, including being the industry representative to the CAS Board.

    Most recently, Bill was a CAS specialist with the Defense Contract Management Age...
Accreditation
See Individual Courses For Available Credits
Certificates of Completion are provided to all seminar participants who attend Federal Publications Seminars courses following the event, upon request.
CPE: Continuing Professional Education
Field of Study: Specialized Knowledge
Delivery Method: Group-Live Classroom
Federal Publications Seminars is affiliated with West Professional Development and is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
For more information regarding administrative policies such as refunds, cancellations and complaints, please contact Federal Publications Seminars at 888.494.3696.
CPE Hours
This program is eligible for: 16.5 (CPE) hours of credit
Program Level: Beginner
Program Prerequisite: None
Advance Preparation: None
Method: Group-Live
CLP: Continuous Learning Points
Approved for CLP by Defense Acquisition University
Defense Acquisition Workforce members must acquire 80 Continuous Learning Points (CLP) every two years from the date of entry into the acquisition workforce for as long as the member remains in an acquisition position per DoD Instruction 5000.66. We will provide you with documentation of points awarded for completing the event.
CLP Hours
This program is eligible for: 14.0 (CLP) hours of credit
CLE: Continuing Legal Education
States have widely varying regulations regarding MCLE credit. LegalEdcenter is an approved provider in AL, AK, AR, CA, GA, IL, ME, MO, MS, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, PA, RI, SC, TN, TX, UT, VA, VI, VT, WA, WI, and WV. Credit may be applied for in other jurisdictions on request and in accordance with state MCLE rules.
Please note that because some states are changing their policy on CLE reporting, you will need to fill out the request for credit from Federal Publications Seminars within 10 business days, or we may not be able to issue credits for the program.
CLE Hours
This program is eligible for: 13.75 (60 minutes), 16.5 (50 minutes)
Travel
Executive Conference & Training Center (ECTC)
22685 Holiday Park Drive
Sterling, VA, 20166
7037080808
General Information
There is not a room block for the ECTC location. However, ECTC offers special hotel rates at the Hampton Inn & Suites Dulles (located across the street from the venue). Call 703.537.7800 and reference Federal Publications. 
Food & Beverage
There will be all-day beverage service. Continental breakfast will be served, along with lunch and an afternoon dessert break.
The Flamingo Hotel
3555 Las Vegas Blvd S
Las Vegas, NV, 89109
7027333111
Hotel & Room Block Info

We have a room block secured at the Flamingo Hotel for Las Vegas Week.  Visit https://book.passkey.com/go/SFFPS1 to reserve your room. Group rate is $94 + taxes + daily resort fee of $35/room/night. You must make your reservation by Friday, August 10, 2021. Rooms are subject to availability.

General Information

Food & Beverage

Continental breakfast, lunch and afternoon coffee will be served.

The Westin Hilton Head Island
2 Grasslawn Avenue
Hilton Head Island, SC, 29928
8886278551
Hotel & Room Block Info

We have a room block secured for the Hilton Head weeklong event. For guest room reservations, click here. Group rate is $269 + taxes, plus a Resort Charge of $17/room/night (this is reduced from the normal $28/night). You must make your reservation by July 5, 2021. Rooms are subject to availability.

Government Per Diem

Please note that we have reserved a limited number of guest rooms at the government per diem. These rooms are limited to one attendee per qualifying company. You will be required to present a valid Government ID upon check-in to confirm use of the government rate. To make a reservation, click here.

General Information

Food & Beverage
During Hilton Head Week, we will be serving continental breakfast, lunch and an afternoon snack each day.

Level
  • 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
    Courses build upon students' knowledge and experience, and cover complex issues within the subject matter. Should have 4-5 years' mastery of subject for in-depth analysis.
  • 500
    Masters-level programs designed for professionals with 5+ years' experience. Courses cover in-depth and technical analysis on specific subjects and updates on current issues.