A Guide to Foreign Concerns in USG Contract Accounting

Overview

Are you an overseas company currently doing business, or interested in doing business, with the U.S. Government?
Are you a US company with foreign subsidiaries either doing business or interested in having them perform under U.S. Government contracts?

If yes, then this is the course that will provide you the foundational understanding required to comply with the applicable U.S. Government contract accounting requirements for foreign concerns (the U.S. government’s “title” for such businesses) - from understanding which accounting requirements do and don’t apply (yes, there are some regulatory breaks given to this community – but not many!) to strategies on how to comply.

Foreign concerns are a unique breed of contractors, and even when the same regulation applies to both domestic and foreign concerns, international companies have unique challenges in the manner in which they can demonstrate compliance, including differences between US GAAP and local GAAP, non-traditional expenses such as social charges, unique fringe packages, and a host of other geographically influenced considerations.

This course gives foreign concerns an opportunity to gather together and share their experiences with peer companies operating with similar challenges in U.S. government contract accounting; and provides them an opportunity to ensure they understand their unique requirements and learn best practice methods from faculty who have worked with foreign concerns U.S. government contract accounting requirements in many different environments.

Learning Objectives:

Applicability of Key U.S. government Contract Accounting to foreign concerns:
- Federal Acquisition Regulation (FAR)
- Agency Supplements (DFARS, etc.)
- Cost Accounting Standards (CAS)
Contract-Type Requirements (Cost-Type vs. Time & Material vs. Fixed Price)
Key Regulatory Requirements:
- Cost Accounting Standards (CAS) 401/402
- FAR Part 31
- DFARS Accounting System Criteria
- Inter-company Transactions (FAR 31.205-26)
- Truthful Cost or Pricing (FAR Part 15)
Audit Expectations
Strategies for:
- Compliance
- Educating your broader company, including corporate office, on these unique risks
Open Forum:
- Real-world success stories and lessons learned

Dates/Locations

No upcoming dates/locations at this time

Agenda

8:00 AM - 3:00 PM

Las Vegas September Weeklong Conference

Experts

Ryan Koenitzer

CPA, President, RKI

Ryan Koenitzer, CPA, leads RKI, a U.S. Government Contracts practice and CPA firm dedicated to assisting U.S. Government contractors with their accounting and compliance needs. Mr. Koenitzer has over 14 years experience in government contract cost accounting, pricing, interpretation and application...

See Full Bio

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: 5.5 (CPE) hours of credit

Program Level: n/a

Program Prerequisite: n/a

Advance Preparation: n/a

Method: n/a

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: 5.5 (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: 5.5 (60 minutes), (50 minutes)

Travel

No travel information is available at this time

Level

100

Basic or fundamental subject matter is covered. Courses are geared to general knowledge or can be taken as a refresher.
200

Specific topics or issues within a topic area are covered. Students should be familiar with terms of art and general concepts concerning the course topic.
300

Workshops and class discussions cover specific subject matter in-depth, and participation is strongly encouraged. Attendees should have at least 2-3 years' experience in the area of study.
400

Courses build upon students' knowledge and experience, and cover complex issues within the subject matter. Should have 4-5 years' mastery of subject for in-depth analysis.
500

Masters-level programs designed for professionals with 5+ years' experience. Courses cover in-depth and technical analysis on specific subjects and updates on current issues.