Virtual Event
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Critical Government Contract Cost Accounting and Financial Compliance: Cost Estimating Requirements
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. 2023 Sessions will run Wednesdays 2:00 – 3:30 pm (ET) February 8, 15, 22, March 1, 8, 15 Learning Objective Upon completion of this course, the participant should be familiar with key fundamental aspects of government contract accounting and estimating requirements and expectations.
Session 1 – The Basics (Recorded)
The nature and intent of acquisition regulations
The functions of key government personnel
Contract types
The flow of the acquisition process
Session 2 – Cost accounting requirements (Recorded)
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
Session 3 – Cost accounting requirements – cont’d
Indirect cost accumulation and distribution
Identification and segregation of unallowable costs
Session 4 – Cost estimating requirements
Truthful Cost or Pricing Data (aka TINA)
Forward pricing proposal requirements
Supporting a basis of estimate
Estimating system criteria
Session 5 – Cost Accounting Standards
Applicability
CAS disclosure statements
General requirements of each standard
Impact of changes and non-compliance
Session 6 – Cost billing requirements
Invoicing
Incurred cost submissions
Contract close-out
Instructor: Anthony Kim, Capital Edge
Fee: $600
