Are you a government contractor who wants to learn more about government contract accounting? If so, then this program is for you!

There is accounting, and there is government contract accounting. Government contractors are subject to a wide range of unique accounting regulations, entering into contracts for which negotiation, performance, termination, and more require following specific accounting principles and standards. And dealing with the Federal Government can be difficult and complex. It is a world apart from commercial business.

Accounting in Government contracting, then, has its own unique and specialized rules, regulations, standards, problems, and hurdles. A contractor must have a proper accounting system to avoid enormous difficulties, not the least of which is lost profits and contracts.
For Government contract administrators, executives, lawyers, managers, financial officers, internal auditors, and accountants who do not necessarily concentrate in this field, the subject is generally mystifying and often carries the intimidating sense of the unknown. So there is a significant need for this specially developed program.

Government Contract Accounting's detailed scope is outlined in the course curriculum below. Its coverage includes not only general accounting concepts related to government contracting but the specifics of cost principles, cost accounting standards, accounting for claims, unique accounting problems, and profit.

Learning Objectives

• By the conclusion of this program, attendees will have a solid, practical understanding of government contract accounting, including:
• Government forms and formats for pricing proposals.
• Direct and indirect cost rate submissions.
• Cost principles for allowability.
• Cost allocability and reasonableness under the FAR and CAS.
• Accounting systems requirements.
• The impact of the type of contract on the accounting requirements.
• Billing the Government for work accomplished.
• Dealing with Government auditors.
• and more.

You will be able to:

• Understand the characteristics of the federal marketplace, the acquisition lifecycle, and relevant statutes
• Understand key terms and definitions 
• Recognize contract types
• Accounting differences in acquisition contracts
• Identify fundamental commercial item differences
• Define Allowable, cost reasonableness, and credits
• Apply basic CAS principles
• Understand TINA, Cost & Price Data
• Determine basic indirect rates
• Recognize change orders and pricing methodologies
• Understand the audit process