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:
The Course Curriculum & Faculty
Day One The CAS System: Administration and Enforcement Matthew Haws, Jenner & Block
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. Disclosure Statements; Cost Accounting Practices Deboarh Nixon, Crosshair Advisors LLC
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.
Day Two
Home Office, G&A Expense, Overhead, and IR&D Deborah Nixon, Crosshair Advisors LLC
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.
Tangible Assets and Capital Deborah Nixon, Crosshair Advisors LLC
Day Three
Compensation of Personnel William Romenius
Hyatt Regency Crystal City Click here to reserve using the AMA preferred rate. For AMA’s preferred rate enter corporate code 00433. Reagan National Airport 2799 Jefferson Davis Highway Arlington, VA 22202 AMA Reservation Number 1-703-418-1234 Renaissance Arlington Capital View Hotel Click here to reserve using the AMA preferred rate. 2800 South Potomac Avenue Arlington, VA 22202 AMA Reservation Number 1-703-413-1300 METRO RAIL LINE: Yellow & Blue Line – METRO Stop – Crystal City From the METRO - AMA is 2 blocks east and 4 blocks south on Crystal Drive http://www.amaconferencecenter.org/washington-directions-maps.htm
There is a room block for this location. The rate is $244/night plus taxes. To reserve your room, click here. Reservations under this room block must be made by April 7, 2024.
If you need additional assistance, please get in touch with the Hyatt at 877.803.7534.
There is a government per diem rate for this location. The rate is $194/night plus taxes. To make your reservations, please click here. Reservations under this room block must be made by April 7, 2024.
Cancellation Policy 11:59pm Hotel Time 2 Days Before Arrival Or Pay 1 Night Fee.
FOOD AND BEVERAGE Continental breakfast, buffet lunch, and an afternoon snack will be served.
There is a room block for this location. The rate is $99/night plus taxes. To reserve your room, click here. Reservations must be made by August 6, 2024.
Please note that upon booking your reservation, your credit card will be charged a deposit equal to the first night's room and tax. To avoid forfeiture of deposit, please ensure all changes and cancellations are made at least 72 hours prior to the scheduled arrival date.
Food & Beverage Continental breakfast and lunch will be served.
There is a room block for this location, the rate is $394/night + taxes and fees. To make your reservations, please click here. Reservations under this room block must be made by June 21, 2024.
Government Per Diem rates are now sold out.