2015 Essential Accounting Updates for Federal Contracts

Take a fresh look at your federal accounting practices.  Increased competition, cuts in overall spending, and changes in compliance requirements have made it essential to be at the top of your game. Regardless of your experience with federal accounting, this class will provide new and updated information and strategies to increase your understanding of government contract accounting. You will gain the knowledge to implement a solid accounting system earning your company a competitive advantage. In this class you will learn to:

• Protect your profits and keep cash flowing
• Accurately and profitably price proposals to win business
• Demonstrate to potential customers that you:
  • understand the rules
  • have your house in order
  • will be an excellent business partner
• Position your company to successfully pass a pre-award system audit
• Navigate confidently through all types of compliance factors and audits

Class trainers from Aronson LLC, a leading financial advisor to government contractors, will share expertise, advice, and best practices to solve your federal accounting challenges and reduce your audit risk. You’ll gain valuable insight and competencies in:

• Requirements and implementation of an Approved Accounting System
• Types of contracts and the risks and rewards of each
• Requirements of Cost Accounting Standards (CAS) that affect all sized businesses
• Understanding FAR 31 distinctions, including direct vs indirect costs, unallowable costs, non-billable costs, requirements for incurred cost submissions, provisional billing rates, and more
• Indirect Rate Calculations – a detailed review
• Requirements for your written policies and procedures
• What to expect in pre-award audits, financial audits, floor checks, and incurred cost audits
• Metrics for key performance indicators to better track the health of your company
• Current actions in the Federal Marketplace

Credits: 7 CPEs, 0.7 CEUs, NCMA-certified and accepted by other organizations.

Who Should Attend

Business Owners, Accountants, CPAs, Financial and Company Management Officials, and Accounting Personnel who want to increase their knowledge and confidence in managing financial obligations and profitability with the federal government.