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0-60 Accounting and Auditing in a Capsule
June 14 @ 12:00 pm - 2:00 pm$199
This virtual class is an introduction and overview to two separate but complementary topics. Contracting with the U.S. Government can be challenging with the unique accounting requirements and contract audit expectations. This class is designed to provide an introduction to such Government accounting concepts as direct versus indirect costs; indirect cost allocations; cost allowability; and accounting for unallowable costs. The class will provide an overview of the contract auditing process and auditor expectations regarding the adequacy of contractor accounting systems, timekeeping systems and cost representations. Participants will also be provided an introduction to audits of incurred costs and the impact of penalties for unallowable costs.
This overview will provide contractors with an understanding of the requirements of Government contract accounting and to prepare for the issues that arise from the contract audit process.
The Public Contracting Institute 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.