Sign Up For Our Weekly Emails
Get the latest updates on special offers, courses, events, webinars and books from Federal Publications Seminars.
Sign Up
Thank You
You'll soon be receiving updates about special offers, events, & more.
Get 10% Off Your Next Purchase
Sign Up For Our Emails
Sign Up
Thank You
You'll soon be receiving updates about special offers, events, & more.
Cart
Overview

This course is designed especially for non-financial managers, administrators, technical professionals, executives, legal counsel, and line and staff personnel who must understand the contract cost, accounting, and financial aspects of government contracting. Its purpose is to increase your overall effectiveness as a contract professional.

The course approach is both wide (focusing on the big picture and how the entire system works) and narrow (scrutinizing the day to day activities in finance and accounting contract issues). If you work with government contracts, you will benefit from clear, non-technical explanations in areas such as:

  • Pre-award cost issues
  • Cost Accounting Systems
  • Direct and Indirect costs
  • Cost pools
  • Contract funding
  • Progress payments
  • Incurred costs
  • Scope changes
  • Audits
  • Closeouts

Compressed to essence, much of this course is concerned with financial controls.  Such as what controls are generated and should be generated, what figures and reports mean, and what managerial responses are called for. It's a formidable package to teach.  A package requiring a person with special knowledge, special experience, and special instructional ability. 
 

Dates/Locations
No upcoming dates/locations at this time
Agenda
9:00 AM - 4:00 PM

Course Curriculum

  1. Financial & Cost Rules/Guidance in Federal Procurement
    1. Public Law
    2. Federal Acquisition Regulation
    3. Agency Supplemental Regulations
    4. Cost Accounting Standards
    5. Generally Accepted Accounting Principles
    6. FAR Cost Principles (Part 31)
    7. Generally Accepted Auditing Standards

     

  2. Pre-Award Cost Issues
    1. Cost Accounting Systems
    2. The Internal Cost Structure
      • Direct cost
      • Indirect cost
      • Cost pool structure
      • Other direct cost
      • Labor/Overhead rates
      • Capitalized expenditures
    3. Pre-Award Surveys
    4. Assessing Contractor Risks
    5. Solicitations and Invitations for Bid
    6. Understanding the Scope of Work
    7. Developing the Statement of Work
    8. Pricing Estimating strategies
    9. Bidding Rates (Labor & Overhead)
    10. Developing Cost/Schedule Proposals

     

  3. Types of Contracts
    1. Fixed Price
    2. Cost Reimbursement
    3. Other
    4. Accounting Implications

     

  4. Contract Funding
    1. Full Funding
    2. Incremental Funding
    3. Internal Funding
    4. Reserves and Contingencies
    5. Spending vs. Funding

     

  5. Contract Financing
    1. Progress Payments
    2. Loss Contracts
    3. Ordinary and Alternate Liquidation Rates
    4. Contract Payments
    5. Interest Penalties

     

  6. Incurred Costs
    1. Allowability
    2. Allocability
    3. Reasonableness
    4. Advance Agreements
    5. Billing Rates (Labor & Overhead)
    6. Limitation of Cost/Funds Clauses
    7. FAR Cost Principles - Part 31
    8. Truth in Negotiations Act
    9. Penalties for Claiming Unallowable Costs

     

  7. Scope Changes and Contract Cost/Schedule
    1. Formal Change Orders
    2. Constructive Changes

     

  8. Government Audits
    1. Entrance & Exit Conferences
    2. Pre-Award Audits
    3. Post-Award Audits
    4. Managing Audits

     

  9. Contract Closeout
    1. Final Rates (Labor & Overhead)
    2. Incentive Price Provisions
    3. Contract Profitability
    4. Quick Closeout
    5. Normal Closeout
Accreditation
See Individual Courses For Available Credits
Certificates of Completion are provided to all seminar participants who attend Federal Publications Seminars courses following the event, upon request.
CPE: Continuing Professional Education
Field of Study: Specialized Knowledge
Delivery Method: Group-Live Classroom
Federal Publications Seminars is affiliated with West Professional Development and is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
For more information regarding administrative policies such as refunds, cancellations and complaints, please contact Federal Publications Seminars at 888.494.3696.
CPE Hours
This program is eligible for: 13.0 (CPE) hours of credit
Program Level: Basic
Program Prerequisite: None
Advance Preparation: None
Method: Group-Live
CLP: Continuous Learning Points
Approved for CLP by Defense Acquisition University
Defense Acquisition Workforce members must acquire 80 Continuous Learning Points (CLP) every two years from the date of entry into the acquisition workforce for as long as the member remains in an acquisition position per DoD Instruction 5000.66. We will provide you with documentation of points awarded for completing the event.
CLP Hours
This program is eligible for: 11.0 (CLP) hours of credit
CLE: Continuing Legal Education
States have widely varying regulations regarding MCLE credit. LegalEdcenter is an approved provider in AL, AK, AR, CA, GA, IL, ME, MO, MS, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, PA, RI, SC, TN, TX, UT, VA, VI, VT, WA, WI, and WV. Credit may be applied for in other jurisdictions on request and in accordance with state MCLE rules.
Please note that because some states are changing their policy on CLE reporting, you will need to fill out the request for credit from Federal Publications Seminars within 10 business days, or we may not be able to issue credits for the program.
CLE Hours
This program is eligible for: 11.0 (60 minutes), 13.0 (50 minutes)
Travel
No travel information is available at this time