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Critical Government Contract Cost Accounting and Financial Compliance

October 29, 2020 @ 12:00 pm - 1:40 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.

Sessions will run Thursdays, Oct 29, Nov 5, 12, 19, Dec 10, 17, 12:00 – 1:40 pm (ET)


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

  • 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

  • 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 and other considerations

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


  • CLE: 1.5 per session; 10 for the series
  • CLP: 2 per session; 12 for the series
  • CPE: 2 per session; 12 for the series
  • PDU 1.66 per session; 10 for the series

Designed For

CFOs, Directors, Managers in functional areas of Contract Administration, Accounting, Finance, and Compliance. Any organization with a requirement to support overall regulatory and business systems compliance under federal government contracts.




Delivery Method