In this one-hour virtual session, participants will gain insights into emerging trends and recent legislative changes reshaping the federal contracting and subcontracting landscape. We will explore the relevance of DOGE, break down the implications of the FoRGED Act, and highlight key updates to federal compliance standards. Finally, participants will learn proven strategies for streamlining acquisition processes and staying ahead of evolving requirements. This course will equip you with the knowledge and identify tools to help you navigate this new era of federal procurement.

Contracts and Accounting often operate independently within contract management, leading to inefficiencies and labor-intensive data gathering for project reporting, Incurred Cost Submission preparation, and contract closeouts. In this session, we will identify common inefficiencies and discuss streamlined processes to provide accurate data without manual intervention. We will explore:  The impact of FAR clauses on both Contracts and Accounting  The use and maintenance of contract briefs to keep data current  The effect of new revenue recognition requirements on project reporting  The benefits of using contract budgets for the entire company  The necessary data for preparing accurate Incurred Cost Submissions and ensuring thorough contract closeouts Through examples of inefficiencies and manual processes, we'll provide recommendations for improvements. We encourage attendees to share their experiences with gaps in their current processes and discuss strategies they have implemented to improve efficiency. This interactive session aims to foster a collaborative environment where you can learn from industry peers and experts.