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Critical Government Contract Cost Accounting and Financial Compliance

April 8, 2021 @ 11:00 am - 12:40 pm


This course is a fast-paced interactive 6-part webinar that examines the key fundamental aspects and requirements on contract financial matters as it applies to Federal acquisition. Designed for new professionals in both government and industry, as well as those who want to build familiarity with, or update themselves on, the Federal Government’s requirements regarding costs proposed or incurred under US Government contracts. The course includes a review of accounting and estimating related topics, and best practices for implementing and maintaining compliance with a plethora of applicable requirements and expectations.

April 8 – The Basics

  • The nature and intent of acquisition regulations
  • The functions of key government personnel
  • Contract types
  • The flow of the acquisition process

April 15 – Cost accounting requirements

  • Accounting system criteria
  • Segregation of direct and indirect costs
  • Identification of direct costs by contract/line item
  • Labor timekeeping, cost accumulation, and cost distribution
  • Materials and other direct costs
  • Purchasing system criteria
  • Material Management and Accounting system criteria

April 22 – Cost accounting requirements – cont’d

  • Indirect cost accumulation and distribution
  • Identification and segregation of unallowable costs

April 29 – Cost estimating requirements

  • Truthful Cost or Pricing Data (aka TINA)
  • Forward pricing proposal requirements
  • Supporting a basis of estimate
  • Estimating system criteria

May 6 – Cost Accounting Standards

  • Applicability
  • CAS disclosure statements
  • General requirements of each standard
  • Impact of changes and non-compliance

May 13 – Cost billing requirements and other considerations

  • Invoicing,
  • Incurred cost submissions
  • Contract close-out


April 8, 2021
11:00 am - 12:40 pm
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