Navigating U.S. Government Contracts: Cost Accounting, Compliance & DCAA
Thursday, December 21, 2017
U.S. Government contracting is a niche industry that involves unique regulatory requirements in the accounting field. The two most common areas that every government contractor that has cost reimbursable contracts is the requirement to prepare an annual Incurred Cost Submission (ICS) and preparing cost or price proposals that include projected indirect rates. Lastly, this all-day session will be round out with an overview of the Cost Accounting Standards (CAS) and a presentation on hot topics including issues with the Defense Contract Audit Agency (DCAA) who typically audit government contractors.
*Develop the skill of preparing an Incurred Cost Submission (ICS) using DCAA's ICE template.
*Learn how to prepare a cost or price proposal based on FAR Part 15 requirements.
*Understand how estimating systems, cost or price proposal preparation and the potential for defective pricing are interrelated.
*Explain what is "defective pricing" and how it can increase the risk of non-compliance.
*Learn about an adequate estimating system.
*Discuss hot topics and DCAA matters.
*Obtain a greater understanding of the Cost Accounting Standards (CAS).
*DCAA current initiatives
*Hot topics such as the 2018 NDAA permitting commercial firms to perform incurred cost audits
*Cost Accounting Standards
* Preparing the annual Incurred Cost Submission using the DCAA ICE template
* Preparing cost or pricing proposals
* DFARS compliant estimating systems