Understanding Cost Accounting For Government Contracts and Audits

This dynamic two-day program provides a comprehensive and practical overview of the regulatory requirements for effective accounting systems for government contracts and compliance with Cost Accounting Standards (CAS).  

The focus is on understanding the FAR Cost Principles and accounting for allowable and unallowable costs with an emphasis on internal controls and managing DCAA audits. 

In addition, the program discusses certified cost and pricing data, overhead claims, claims processes and fraud issues.  Attendees will learn how to manage and account for allowable and unallowable costs, comply with CAS and avoid false claims exposure and penalties for unallowable costs. There will also be a review of the recent proposed acquisition rules and policies including  the DoD efficiency initiative.

Program Syllabus:

1. FAR Cost Principles
2. Allowable and Unallowable Costs
3. Accounting Systems for Reporting Costs
4. Cost Accounting Standards (CAS)
5. Preparation of Overhead Claims
6. Accounting Internal Controls
7. Managing DCAA Audits
8. Defective Pricing and False Claims

Who will Benefit:

Business Owners, Financial Officers; Directors of Contracts, Accounting, Compliance, Proposals; Program Managers and Staff.

Credits:

1. 12 Professional Development Units (PDU), Project Management Institute (PMI)
2. 12 Continuing Professional Education Units (CPE), NCMA
3. 1.2 Continuing Education Units (CEU), International Association of Continuing Education and Training (IACET)