Course Description This workshop takes an analytical approach to Disclosure Statements, cost accounting practices, and cost impact proposals through definitions, rules, requirements, responsibilities, and implications in the management and administration of CAS-covered government contracts.
It starts with the basics: • CAS-Covered Contracts and Awards • Thresholds • Exemptions • Disclosure Statement Criteria • Revisions • Reviews • Adequacy of Disclosure • Timing of Submission • Compliance • Accounting Requirements • Implementation • Effects of Filing • Changes to a Cost Accounting Practice • Cost Impact Proposals • Calculation Methods and Techniques • FAR Provisions
The Workshop continues with examples, principles and practices from Disclosure Statement content and criteria to: • a self-audit checklist for compliance with the requirements • what triggers a change and how to recognize a change to a cost accounting practice • how to prepare a cost impact proposal, conduct an analysis, and calculate the impact
The workshop concludes with insights and illustrations, and an opportunity for discussion. And although coverage may not include every foreseeable cost activity, we are confident that the resources and guidance you receive will strengthen your analytical abilities in this area. Learning Objectives:
Agenda
Disclosure Statement Forms 1. Contents a. General Instructions b. Cover Sheet and Certification c. Part I General Information d. Part II Direct Costs e. Part III Direct vs. Indirect Costs f. Part IV Indirect Costs g. Part V Depreciation & Capitalization Practices h. Part VI Other Costs and Credits i. Part VII Deferred Compensation and Insurance Cost j. Part VIII Home Office Expenses and Preparation
2. Effects of Filing a Disclosure Statement
Planning Considerations – Audit Checklist Guidance 1. Adequacy of a Disclosure Statement a. Determine the Need b. Determine Allocated Costs Consistency c. Quality of Information d. Effect in Other Audit Areas e. Materiality Consideration f. Adequacy Before Compliance g. Risk Indicators h. System Deficiencies i. Internal Control Structure j. Risk Assessment k. Internal Consistency l. Potential Inadequacies m. Disclosed Practices v. Established Practices n. Prepare for Compliance Audit
2. Compliance Preparation Checklist a. Organizational Form b. Prior Audits c. Balance Sheet Integrity d. Materiality e. Risk Indicators f. Business Systems g. Systems Materials h. Internal Control Structure
3. Filing Considerations a. Thresholds b. Company vs. Divisions c. CAS-Covered Awards d. Time for Filing e. Prior Year Awards f. Next Cost Accounting Period
4. Implementation Practices
Cost Accounting Standards 1. CAS 401 Consistency in Estimating, Accumulating, and Reporting Costs a. Purpose/Definitions b. Accumulating Costs c. Actual Cost d. Estimating Costs e. Indirect Cost Pool f. Pricing g. Proposal h. Reporting Costs i. Fundamental Requirements j. Techniques for Application k. Illustrations l. Interpretations
2. CAS 402 Consistency In Allocating Costs Incurred For the Same Purpose a. Purpose/Definitions b. Cost Objective c. Direct Cost d. Final Cost Objective e. Indirect Cost f. Indirect Cost Pool g. Overcharging h. Double Counting i. Fundamental Requirement j. Techniques for Application k. Illustrations and Examples l. Interpretation
3. CAS 405 Accounting For Unallowable Costs a. Purpose and Guidelines b. Definitions c. Directly Associated Cost d. Expressly Unallowable Cost e. Indirect Cost f. Unallowable Cost g. Fundamental Requirements h. Techniques for Application i. Illustrations and Examples j. Interpretation
4. CAS 406 Cost Accounting Period a. Purpose/Definitions b. Allocate c. Cost Objective d. Fiscal Year e. Indirect Cost Pool f. Fundamental Requirements g. Techniques for Application h. Illustrations and Examples i. Interpretation
Changes to a Cost Accounting Practice 1. Definitions 2. Disclosed Accounting Methods 3. Established Accounting Methods 4. Alteration or Change 5. Meeting the Definition 6. Change in Method or Technique
Cost Impact Proposals 1. Cost Impact Analysis and Measurement 2. Preparation and Input 3. Data Elements 4. Calculation Methods and Techniques 5. Examples 6. Impact on Contract Types 7. Isolating Impacts 8. General Dollar Magnitude
Tying It All Together
Federal Publications Seminars doesn’t have a room block for this location. AMA does not arrange hotel accommodation. However, AMA has negotiated preferred rates at the following hotels based upon availability. Be sure to mention that you are an AMA conference attendee to secure your reservation and preferred rates. Contact the hotels below directly. Note: that we recommend that reservations be made early, as the number of rooms at preferred rates is limited.
Hyatt Regency Crystal City Click here to reserve using the AMA preferred rate. For AMA’s preferred rate enter corporate code 00433. Reagan National Airport 2799 Jefferson Davis Highway Arlington, VA 22202 AMA Reservation Number 1-703-418-1234 Renaissance Arlington Capital View Hotel Click here to reserve using the AMA preferred rate by entering corporate code A10 2800 South Potomac Avenue Arlington, VA 22202 AMA Reservation Number 1-703-413-1300
Hilton Arlington National Landing
Click here to reserve using the AMA preferred rate by entering corporate code N3433483.
2399 Richmond Hwy
Arlington, VA 22202
AMA Reservation Number 1-703-418-6800
METRO RAIL LINE: Yellow & Blue Line – METRO Stop – Crystal City From the METRO - AMA is 2 blocks east and 4 blocks south on Crystal Drive http://www.amaconferencecenter.org/washington-directions-maps.htm
COST AND COMPLIANCE WEEK Breakfast and lunch are on your own. Coffee (regular & decaf), tea and water will be served throughout the day with an afternoon snack (baked goods) break.
