Accounting Cost Allowability: Critical Issues for Government Contractors

This event qualifies for .3 CEUs

This event qualifies for 3 CLPs

Did you know that many businesses with federal government have to follow special cost accounting and allowability rules? Not adhering to the rules could result in cost disallowance—even years after being recorded and the accounting records have been closed.

On February 11, the Government Contracting Institute presents “Accounting Cost Allowability: Critical Issues for Government Contractors.” This course is taught by Norman Lorch, CPA, an executive consultant with over thirty-five years of experience in the field of financial management and the administration of government contracts. In “Accounting Cost Allowability: Critical Issues for Government Contractors,” Mr. Lorch will engage with attendees as they participate in a discussion of key elements of allowable and unallowable direct and indirect costs. He will also cover several topics including:

Key elements of allowable and unallowable direct and indirect costs.
“High-risk” areas that can result in cost disallowances.
Applicable penalties and adverse government actions.

After the course, attendees will not only have an increased understanding of accounting cost allowability, but they will be able to implement adequate systems and know how to properly adhere to the U.S. Code.

Accounting Cost Allowability is part two of a two-part series by Mr. Lorch for the Government Contracting Institute. The first course, “Accounting Regulations and Business Systems: Key Updates for Government Contractors” will be presented on January 14, 2016. Those who sign up for both courses will save $75.

Speaker and Presenter Information

Norman J. Lorch, CPA – Executive Consultant has over thirty-five years’ experience in the field of financial management and administration of government contracts. Mr. Lorch is the principal of Norman J. Lorch, Chartered, a CPA firm that specializes in assisting clients and their accountants in the areas unique to Government contracts. He is a former division accounting manager with a major defense contractor and a former Supervisory Auditor with the Defense Contract Audit Agency (DCAA). Mr. Lorch has prepared and evaluated claims, successfully defended contractors from allegations by the DCAA on such matters as Defective Pricing and time-keeping policies and practices. In addition, he has been the interface and liaison with DCAA and has negotiated contracts and agreements with contracting officers, customers, and the DCAA.