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accounting, costs, finance & federal grants topics
accounting, finance, and costs issues in government contractor mergers and acquisitions
2 Days
A workshop for government contractors, banks, and financial institutions on the unique M&A accounting issues in the buying and selling of a government contractor.  The workshop features a detailed checklist of critical accounting issues from novation agreements to analyses of each and every type of contract in an organization’s portfolio of government contracts.  In addition, a comparative analysis between the treatment of revenue and costs in commercial businesses and government contractors is presented.  

This is a companion course to the Due Diligence in Government Contractor Mergers and Acquisitions seminar and they are mutually supportive educationally if scheduled together.  

adequacy and materiality in contract formation, administration, and performance
2 Days
This workshop is for Accounting, Costs, and Finance professionals, CFOs, Compliance Officers, and Program and Project Managers on Adequacy checklists, Adequacy Standards, and Materiality consideration in cost-related issues and reports throughout the contracting cycle.

Coverage includes the purposes and meaning of adequacy and the significance of materiality in the analysis of cost details and cost issues. The workshop includes the development of a new self-assessment methodology for determining adequacy and materiality indicators in compliance efforts and audits preparation. Workshop exercises include detailed analyses and the completion of adequacy checklists and how adequacy and materiality information and data can be useful in strategic, proactive efforts in overall organizational compliance efforts and procedures.  

2 Days
A workshop on the new OMB Guidance for agencies on uniform administrative requirements, cost principles, and audit requirements for federal awards.  The purpose of the workshop is to review the new OMB Guidance and the current OMB Circular requirements in preparation for – and the anticipation of – changes in the Circulars that will continue to be issued over time. Agencies must adopt the OMB Guidance in December, 2014.  The Guidance provides a framework for Grants Management that will be followed by detailed, additional efforts to strengthen program outcomes through the innovative and effective use of grantmaking models, performance metrics, and evaluation methods.  A continuous monitoring requirement will be included in the requirements.  

2015 will be a watershed year in the implementation of the Guidance.  The Guidance combines all eight (8) OMB Circulars into one (1) streamlined regulation.  This workshop is designed for grant recipients, accounting, costs, and financial managers, grants professionals and practitioners, business development specialists, and compliance officers.  Grant awards in 2010 were estimated to be over $600 Billion.  

should-cost reviews | cost analyses
2 Days
A workshop for contractors on Should-Cost team reviews.  A Should-Cost review is a special form of cost analysis of a contractor’s existing costs, structure, and systems. The primary objectives of Should-Cost reviews are twofold:  to improve the cost of contract performance and for contract negotiation purposes. There are two general types of reviews: Program Should-Cost reviews (direct costs) and Overhead Should-Cost reviews (indirect costs).  Program cost reviews should be considered when the government is contracting for, procuring, or conducting a major system acquisition.  In a Program Should-Cost review, the Contracting Officer decides which contractor operation has the most potential for cost savings.  If a Should-Cost review and analysis is conducted, a team report must be prepared by the evaluation team.  Certain precedential factors must be considered when contractor sites are selected for review.  

The results of an Overhead Should-Cost review can be used in FPRA (Forward Pricing Rate Agreement) negotiations with the contractor.  DCMA or the military department responsible for performing contract administration functions should consider performing an Overhead Should-Cost review on a contractor business unit when certain conditions are met.  This workshop will cover the review criteria for Should-Cost reviews, contractor consideration in negotiations preparations, and contractor rights and responsibilities.  

3 Days
A companion course to the Masters Institute in Government Contract Costs, this three-day workshop covers the treatment of accounting information and data throughout the contracting cycle.  The Masters Institute in Government Contract Costs is prescriptive in identifying the regulatory cost rules and proscriptive in delineating costs that are not allowable under the regulations.  

This course – the Masters Institute in Government Contract Accounting – examines the accounting principles and practices that are necessary in the advanced, substantive areas of contract-related issues. Its primary focus is on a strategic understanding of new and emerging rules impacting accounting – and managing/incorporating the requirements into your operations, reporting, and compliance practices.  Further, this workshop explains the business significance and meaning of financial data derived from the Business Systems reports and other organizational reports. 

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