Navigating U.S. Government Contracts: Cost Accounting, Compliance & DCAA (Webinar)

Code: WA938706

Date Wednesday, April 3, 2019
Time 9:00 AM - 5:00 PM
Central Time
Location Online
CPE credits CPE 8.0
Field(s)
of study
Accounting (Governmental) - Technical (8.0)
Fees
Standard member fee $195.00
checkmarkStandard nonmember fee $195.00

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Description

U.S. Government contracting is a niche industry that involves unique regulatory requirements in the accounting field. The two most common areas that every government contractor that has cost reimbursable contracts is the requirement to prepare an annual Incurred Cost Submission (ICS) and preparing cost or price proposals that include projected indirect rates. Lastly, this all-day session will be round out with an overview of the Cost Accounting Standards (CAS) and a presentation on hot topics including issues with the Defense Contract Audit Agency (DCAA) who typically audit government contractors.

Who should take this program?

Accountants at all levels that work for a government contractor to include contract administrators, pricing and project personnel; government personnel working for defense or civilian agencies in audit, inspector general, contracts, pricing and programs; and public accounting firms that are involved in financial statement audits and prepare taxes for government contractors as well as in consulting, or sole practitioners involved in consulting.

Major subjects

  • DCAA current initiatives
  • Hot topics such as the 2018 NDAA permitting commercial firms to perform incurred cost audits
  • Cost Accounting Standards
  • Preparing the annual Incurred Cost Submission using the DCAA ICE template
  • Preparing cost or pricing proposals
  • DFARS compliant estimating systems
  • Defective Pricing

Learning objective(s)

  • Develop the skill of preparing an Incurred Cost Submission (ICS) using DCAA's ICE template.
  • Learn how to prepare a cost or price proposal based on FAR Part 15 requirements.
  • Understand how estimating systems, cost or price proposal preparation and the potential for defective pricing are interrelated.
  • Explain what is "defective pricing" and how it can increase the risk of non-compliance.
  • Learn about an adequate estimating system.
  • Discuss hot topics and DCAA matters.
  • Obtain a greater understanding of the Cost Accounting Standards (CAS).

Notes:

Course code Code WA938706
Sponsor Business Professionals' Network, Inc.
NASBA ID#: 107810
Level Basic
Format Group Internet Based
Prerequisites Prereq. None
Advance
prep
None