This advanced virtual course explains the regulatory requirements and provides hands on exercises and scenario analysis to identify, define and measure changes to cost accounting practices.  

The virtual course begins by summarizing the regulatory framework for CAS and cost accounting practices included in both CAS and FAR, followed by a brief review of cost accounting practices and what constitutes a practice change. After establishing the framework, we will delve into the four different types of cost impacts and the selection of the appropriate technique for notification and settlement of the cost impact. 

Shifting to measurement of the cost impact, we tackle the challenges of establishing a comparative baseline for measurement; discusses covered and affected contracts for inclusion in the cost impact; describes agency and contract type disclosure; treatment of contract types and offsets and netting between contract types and types of changes including:

• Required changes
• Desirable changes
• Unilateral changes 
• Non compliances

Rounding out the lecture, practical issues with cost impacts will be discussed emphasizing precedent setting case law that shapes the identification and measurement process used for computing cost impacts.

Course Objectives:
Upon successful completion of the course you will be able to:

• Demonstrate knowledge on cost movement
• Develop tactics around changes and cost impacts
• Identify process used for computing cost impacts
• Effectively understand and present cost impact analysis to others