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Understanding Government Contract Cost Accounting Workshop

What you need to know to establish an auditable accounting system for a government grant or contract

Accounting for the government and governmental contracts can be different than bookkeeping for a traditional business, especially if you have not done so before. Grant recipients and contractors (new and experienced), are often challenged and overwhelmed by the accounting regulations, standards, and requirements required by the government and the Defense Contract Auditing Agency (DCAA). If you are contemplating applying for or have been awarded an SBIR, STTR or another government grant, or are interested with contracting with the government to provide any service or product, these are some of the questions and knowledge you should have answers to. (Curriculum Outline - Details)

• Understanding the operating policies and procedures of the DCAA
• Types of contracts
• What auditors look for–contract audit objectives
• How to insure that labor timekeeping deficiencies do not exist which will cause the government to question the reliability of your labor charges
• Allowable costs
• Unallocable costs
• Allowable timekeeping procedures
• How accounting systems should be set up
• How to determine and justify overhead and G&A
• Types of audits
• How audits are conducted–effectively preparing for and conducting yourself during the audit and responding to the results
• Contractor rights and remedies–working through and resolving audit issues
• How to identify overruns
• How to ask for equitable adjustments and contract modifications
• And more...