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CPE, CLE Accredited
This is session 1 of 2 in the Accounting Compliance for Government Contractors virtual course.

This virtual course covers accounting systems in the context of general cost accounting concepts and processes adapted to the specific requirements for contracting with the federal government. It's designed to explain the fundamentals of Government procurement regulatory requirements that affect a Government contractor’s accounting system, with an emphasis on cost accounting by contract. The instruction outlines the components of an acceptable contract cost accounting system in consonance with critical regulations governing those requirements, and discusses methods for adapting those regulatory requirements into a well-functioning compliant cost accounting system.

The course begins with a basic understanding of the government’s procurement approach, types of contracts, key procurement players, and other information necessary to understand the importance of a cost accounting system. More detailed discussion follows covering requirements for identifying direct costs, pooling and allocating indirect costs, capturing unallowable costs, documenting all processes, and project ledger requirements. Our instructors will outline the dangers and pitfalls of ineffective accounting practices through real-life experiences from working in the government procurement environment. This course will benefit contractors who may be new in adopting or developing their accounting systems for government contracting and also for experienced contractors who want to modify and update their existing systems and practices.

Learning Objectives:
Upon the completion you will be able to:
  • Demonstrate your knowledge of general cost accounting concepts
  • Develop acceptable accounting practices used by government contractors
  • Explain difference between GAAP and government contract accounting principles
  • Create and maintain compliant cost accounting practices
  • Adopt acceptable accounting system controls
  • Apply CAS and FAR regulations to accounting practices

This live virtual course is eligible for both CLE and CPE credit.
NOTE: CPE/CLE credit for attendees are subject to participation and approval by the governing boards.

NASBA CPE ACCREDITATION INFORMATION
Learning Level: Beginner
Prerequisites: None
Field of Study: Specialized Knowledge
Delivery Method: Group Internet Based

For more information regarding administrative policies such as refunds, cancellations and complaints, please contact Federal Publications Seminars at 888.494.3696.

West Professional Development 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.
About Our Experts
  • Jamie Brabston
    Senior Legal Consultant and Director, Redstone Government Consulting, Inc.
    Jamie Brabston is a Senior Legal Consultant and Director with Redstone Government Consulting, Inc. (Redstone GCI), specializing in Labor and Employment Law, with an emphasis on government contract law and compliance. Prior to joining Redstone GCI, Jamie was Senior Counsel with Lehr Middlebrooks Vreeland & Thompson, P.C., a boutique labor and employment law firm based in Birmingham, AL. Jamie assists employers with compliance, problem prevention, the analysis of complex employment law and contract related issues, and in conducting investigations to address employee complaints.

    In addition, Jamie advises federal government contractors with contract specific requirements such as affirmative action compliance, Service Contract Act issues, CoBEC, the Drug Free Workplace Act, record keeping, and in performing mock compliance assessments and other issues specific to employers working with the federal government. Jamie is a proficient trainer and speaker and is a primary instructor for Federal Publications Seminars course, “HR for Government Contractors.” Additionally, Jamie regularly conducts training and education for individual employers and their employees on non-discrimination and anti-harassment, as well as training sessions for executive and non-executive management on a wide variety of overall management leadership skills, and government contract specific topics. Jamie also specializes and advises clients on a wide range of employee benefits issues including ERISA welfare benefit plans, HIPAA, wellness plans, COBRA, the Affordable Care Act, and other federal and state laws, including related reporting requirements. In addition, Jamie works with employers in responding to complaints filed with external agencies such as the Equal Employment Opportunity Commission, the Department of Labor and the Department of Industrial Relations and provides litigation support as needed.
    Jamie received her undergraduate and law degrees from The University of Alabama. During law school, she served as editor of THE LAW & PSYCHOLOGY REVIEW and a member of the Order of the Barristers, the John A. Campbell Moot Court Board, and the Phillip C. Jessup International Moot Court Team, where her team received the Dillard Award for Best Brief in the world.
  • 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.
  • John C. Shire
    Director, Redstone Government Consulting, Inc.
    John is a Director with Redstone Government Consulting, Inc. providing government contract consulting services to our clients primarily related to the DFARS business systems, CAS Disclosure Statements, and DCAA/DCMA compliance preparation, advisory, and defense. Prior to joining Redstone Government Consulting, John served in a number of capacities with DCAA/DCMA for more than 30 years. Upon his retirement, he was based in Texas as an SES-level Corporate Audit Director for DCAA, managing a staff of 300 auditors at one of the largest DOD programs.
    John began his career in the late 80s working in the Clearwater, FL audit office and over the next three decades he progressed through a number of positions within both DCAA and DCMA with career highlights as DCAA Program Manager at Ft. Belvoir, Chief of Technical Programs Division, Deputy Assistant Director-Policy, Director of the DCMA Cost and Pricing Center, the SES-level Lockheed Martin Corporate Audit Director, and Director of Integrity and Quality Assurance.
    John’s three decades of experience in performing and leading DCAA auditors and DCMA reviewers provides a wealth of expertise to our clients. John’s role, not only in the performance of audits, but also in the development of audit policy affords him unique insights into the defense of audit findings and the linkage of audit program steps to the underlying regulatory framework. He is an expert in FAR, DFARS, and other agency acquisition regulation, as well as a subject matter expert in the Cost Accounting Standards having reviewed and provided audit feedback on many of the largest and most complex cost accounting practices during his tenure with the DCAA.

    John’s tenure with DCAA and DCMA came at a critical time during each agency’s history where a number of changes were occurring such as the response to the ICS backlog, development of audit approaches to the DFARS Business Systems and implementation of new audit initiatives as a result of Congressional oversight through the NDAA process. John’s leadership at the DCMA Cost & Pricing center saw oversight of all major DOD pricing actions, leadership of should cost review teams, the Commercial Pricing group and many other areas of strategic value to our clients. His involvement in these and other Agency initiatives is of great value to our clients due to his in depth understanding of DCAA and DCMA’s internal policy directives.
    John holds a Master of Business Administration and a B.A. in Accounting from the University of South Florida.
    Certifications
    Certified Information Systems Auditor
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