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Overview
This 5 day immersion program is designed to cover the most important aspects of government contract accounting. Instructors use a combination of lecture and case studies to build practical and useful skills to immediately make an impact in your organization.  

This 5-day immersion program is designed to cover the most important aspects in government contract accounting.  The program is a combination of lecture and case studies to build practical and useful skills to immediately make an impact in your organization.  It will cover:
  • Unique Accounting Terminology and Definitions
  • FAR Clauses
  • Cost Accounting Standards (and Modified CAS)
  • Cost and Pricing Data
  • Overhead
  • Allowable and Unallowable Costs
  • Contract Pricing
  • Auditing
  • Financial Systems
  • Compliance
  • Defective Pricing
At the end of the week, you can be confident in your knowledge and gain valuable skills to be immediately effective in your day to day work.  Everyone will be awarded a certificate of attendance.  Those seeking Legal or Accounting Accreditation will be awarded up to 5.5 hours of credit per day, if applicable. 

Who Should Attend:
  • Accounting/Finance Professionals with limited experience in government contract accounting, or need a refresher on government contract accounting
  • Directors, Managers and Administrators in government contract roles
  • Small/Medium size business owners
  • Legal and compliance professionals
Learning Objectives:
Upon successful completion of the course you will:
  • Retain and understand Government Contract Accounting Terminology
  • Apply and Recognize the FAR clauses related to the practices
  • Apply and understand CAS and modified CAS situations
  • Develop basic cost and price analysis
  • Understand principles of overhead costs
  • Determine the difference between allowable and unallowable costs
  • Properly document and retain information for audits
  • Determine situations when there is a potential issues related to pricing
Dates/Locations
No upcoming dates/locations at this time
Agenda
DAY 1 – GOVERNMENT CONTRACTING BASICS
  • Characteristics of the Federal Marketplace
  • Acquisition Process & Contract Types
  • Regulatory Environment
  • Business System Requirements by Contract Type
  • Roles & Responsibilities of the Government
DAY 2 – Indirect Rates & FAR Part 31 Cost Principles
  • Understanding & Establishing an Indirect Rate Structure
  • Managing Indirect Rates
  • Far Part 31 Review
  • Cost Principles
  • Selected Costs
  • Unallowable vs. Expressly Unallowable Costs
  • Case Study
DAY 3 – Indirect Rates, Cost Estimating, & CAS
  • Indirect Rate Life Cycle
  • Cost Estimating – Responding to the RFP
  • Truthful Cost or Pricing Data and Defective Pricing Pitfalls
  • Introduction to Cost Accounting Standards (CAS)
  • Case Study
DAY 4 – The Financial Systems
  • Financial Systems – Upgrades, Data Conversion, System Implementation Considerations
  • Supporting the Audit – Record Retention Requirements and Access to Records
  • Business System Internal Control Requirements
DAY 5 – Regulatory Developments & Strategic Planning
  • Final & Proposed FAR and DFARS Rules
  • Recent Case Law
  • Government Contracting Hot Topics
  • National Defense Authorization Acts (NDAAs)
  • Section 809 Panel
  • DCAA Updates
  • Strategic and Tactical Planning – What you Should Be Doing
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 Cerifi LegalEdge 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: (CPE) hours of credit
Program Level:
Program Prerequisite:
Advance Preparation:
Method:
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: (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: (60 minutes), (50 minutes)
Travel
No travel information is available at this time