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Home
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Accounting Compliance - Training Academy Session V...
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On-Demand Session
Accounting Compliance - Training Academy Session Virtual - August 2022 - Session 2
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Topics
Accounting, Costs and Pricing
Advanced Topics
Artificial Intelligence
Business Development
Compliance
Construction Contracting
Cybersecurity
FAR
Government Contracting
Grants
Intellectual Property
International Contracting
Personal Development
Small & Medium Businesses
Subcontracting
Dates
November 2024
December 2024
January 2025
February 2025
March 2025
April 2025
May 2025
June 2025
July 2025
August 2025
September 2025
October 2025
Roles
Director of Contracts
New to Government Contracting
Accountant
Sales and Business Development
Contract Administrator
Counsel
Auditor
Subcontract Administrator
Contract Manager
Procurement Officer
CFO
Grants Administrator
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Train My Team
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3 hours
This is part 2 of a 2-part Training Academy Session focused on Accounting Compliance.
This Accounting Compliance Training Academy Session is part of a larger Training Academy series on Government Contract Compliance. Attending all 4 Training Academy Sessions will give participants a complete view of contract compliance issues, challenges and effective programs to proactively reduce compliance related situations. See more information on the Training Academy Government Contract Compliance Series - Virtual, below.
What you will learn in this Training Academy Session:
This foundational introduction into the requirements of federal government accounting will guide both contractors and agencies through the steps necessary to ensure that their contracts are supported by proper accounting systems. You will:
Gain insights and knowledge on accounting compliance
Develop an understanding of regulatory efforts
Understand compliance in Cost Accounting
AGENDA -
Introduction to Regulatory Environment
Acquisition Cycle
The Regulatory Environment
Bid Proposals and Contract Award
Contract Performance and Closeout
Foundation Expectations of Government in Accounting Systems
Main Players in Acquisition Process
Procuring Contracting Officer (PCO)
Administrative Contracting Officer (ACO)
Defense Contract Audit Agency (DCAA)
Inspector General (IG)
Key Regulations Affecting Cost Accounting Systems
FAR Part 9 Contractor Qualifications
FAR Part 15 Contracting by Negotiations
FAR Part 16 Contract Types
FAR Part 31 Cost Principles
FAR Part 32 Contract Financing
Cost Accounting Standards (CAS)
Truth-in-Negotiations Act (TINA)
SF1408 (Standard Form 1408)
Establishing an Adequate Cost Accounting System
General Ledger Controls & Requirements
Subsidiary Systems Expectations
Chart of Accounts
Reconciliation Processes
Financial Monitoring including Profitability Evaluation
Basic Job Cost Accounting Expectations
Cost Segregation by Contract
Project Cost Ledger System
Tracking Unallowable Costs
Transaction Traceability to Subsidiary Ledgers
Requirements of SF 1408
Specific Cost Accounting Provisions
Direct vs. Indirect Costs
Accounting for Unallowable Costs
This 2-part Training Academy Sessions covers the following topics:
The Regulatory Environment
Key Regulations Affecting Cost Accounting Systems
FAR Part 9 Contractor Qualifications
FAR Part 31 Cost Principles
Cost Accounting Standards (CAS)
Truth-in-Negotiations Act (TINA)
Establishing an Adequate Cost Accounting System
TRAINING ACADEMY - Government Contract Compliance - Virtual
This Accounting Compliance Training Academy Session is part of a larger Training Academy series on Government Contract Compliance. It consists of this 2-part session along with three other Training Academy Sessions including Contract Compliance, Procurement Ethics and Contract Performance, and Building an Effective Compliance Program. To sign up for the entire TRAINING ACADEMY - Government Contract Compliance, go to
fedpubseminars.com/fpsevents
.
NOTE: On-Demand Virtual Course sessions are not eligible for CLE/CPE credits.
About Our Experts
Courtney Edmonson
CPA, CEO, Redstone Government Consulting
Courtney has extensive experience with Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS) compliance, evaluation and preparation of Cost Presentations, cost accounting systems setup and reviews, and policy and procedure preparation. Prior to joining Redstone Government Consulting, Courtney served as a financial statement auditor for large and mid-tier government contractors.
Courtney works with small and large contractors in pro-actively preparing contractors for government contracts challenges as well as resolving complex DCAA and government procurement issues. Courtney’s expertise includes establishing and/or evaluating job cost accounting structures; management and preparation of complex incurred cost and forward pricing rate proposals; evaluation of internal controls most often evaluated by DCAA to include billing and estimating systems; preparation/evaluation of policies and procedures; development of cost allowability evaluation programs, and; preparation of corrective action plans for overcoming DCAA audit findings.
Courtney is a lead instructor for the Federal Publication Seminars course, “Government Contractor Accounting System Compliance”, and provides class instruction for other compliance courses and webinars such as “Preparation of Incurred Cost Submissions”, “Cost Accounting Standards”, and “Cost and Price Analysis”.
Ms. Edmonson earned a Bachelor of Science Degree from Jacksonville State University and obtained her Master of Accountancy Degree from the University of Alabama in Huntsville, Alabama.
David Fix
Director, Redstone Government Consulting
David (Dave) Fix is a Director with Redstone Government Consulting, Inc. He provides Government Contract Consulting services to our Government contractors primarily related to compliance with Federal Acquisition Regulations and Cost Accounting Standards, equitable adjustment claims, and business systems. Prior to joining Redstone Government Consulting, Dave served in a number of capacities with DCAA for over 35 years. Upon his retirement, Dave was a Regional Audit Manager with DCAA.
Dave began his DCAA career in 1986 as an auditor-trainee with the General Electric Suboffice in Pittsfield, Massachusetts. He progressed from auditor to DCAA management ranks serving in DCAA offices in Upstate New York, Columbus, Ohio and Greensboro, North Carolina in audits of major and non-major contractors. Dave served DCAA in three overseas tours, all as Branch Manager, in Kuwait/Iraq (2007), Afghanistan (2010-2012) and Kuwait (2014). Dave was promoted to Regional Special Programs Manager (RSPM) in 2015 before ultimately becoming a Regional Audit Manager (RAM) in October 2019. While a RSPM, Dave worked with DCAA’s other three RSPMs with updating the Agency-wide audit planning process including assigning priorities and determining funded/unfunded audits that is currently being used by DCAA. While a RAM, Dave had overall management responsibility for audits performed by approximately 140 employees including one of DCAA’s largest shipyards. During his career, he served as guest instructor at DCAA’s Defense Contract Audit Institute (DCAI) bringing field perspective to “Advance Auditing Issues” and “Supervisors’ Course” as well as served as a DCAI adjunct instructor over DCAA auditors’ initial two-week training course prior to his retirement.
Dave served 36 years in the Air Force Reserve/Air National Guard in both enlisted and officer positions retiring at the rank of Lieutenant Colonel. His last duty station was Air Force Reserve Command (AFRC) Headquarters, Robins Air Force Base, Inspector General Office serving as the Chief, Contracting Inspections leading inspections of AFRC’s 10 contracting offices as well as assisting in inspections of AFRC
finance offices.
Dave currently specializes in preparing clients for more complex DCAA audits, providing advice on FAR cost principles and contracts regulatory provisions and in assisting clients in anticipating and addressing audit.
Dave earned a Bachelor of Science degree in Accounting from the State University of New York at Buffalo and a Master of Science degree in accounting from Western New England College (now University). He is also a graduate of the Department of Defense’s Executive Leadership Development Program.
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