Federal Contracts Training Center Wolters Kluwer Law & Business Navigant Consulting

Government Contract Cost Accounting

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Overview

This two day seminar provides a thorough understanding of contract and cost accounting, overhead rate development, and the contract cost principles contained in FAR Part 31—Contract Cost Principles and Procedures. Specific topics include government contract accounting regulatory requirements, labor timekeeping, cost distribution, and the applicability of Cost Accounting Standards.

Field(s) of Study: Accounting
Program Level: Basic
Delivery Method: Group-live
Program Prerequisites: None
Advance Preparation: No advance preparation required

Recommended CPE Credit: 14 credits

Program Registration Requirements
Registration fee $995, includes the price of course materials. Register online by selecting a date and clicking the "Register Now" button in the column to the right, call 1-888-300-8201, fax the completed Seminar Registration Form to 1-888-300-8201, or mail the completed Seminar Registration Form to Federal Contracts Training Center, 2700 Lake Cook Rd, Riverwoods, IL 60015.

Refund Policy
In the case that you cannot attend a seminar, FCTC permits attendee substitutions at any time prior to the start date of the seminar. We remind all participants to properly complete all Master’s Certification, CPE, and other credit documentation upon attending each seminar, including the post-seminar evaluation.

In Case of Cancellation
• If seminar registration is canceled or otherwise changed two weeks or more prior to the start date of the seminar, then FCTC will refund any tuition paid or apply it to a different seminar of the participant’s choice.
• If seminar registration is canceled or otherwise changed less than two weeks prior to the start date of the seminar, then FCTC will not refund any tuition paid; however, any tuition paid can be applied to a different seminar of the participant’s choice as long as he or she contacts FCTC prior to the start date of the seminar.

Complaint Resolution Policy
It is the goal of the FCTC to ensure 100% satisfaction with your seminar experience. If you believe that the seminar you attended did not meet or exceed the expectations of being relevant, well delivered, and professionally valuable, then please contact the FCTC with your concerns at 1-888-300-8201 or online at www.FCTCenter.com. Every reasonable effort will be made to resolve the issue in a timely manner.

CPE Accreditation

NASBA CPE Sponsor

CCH is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.
 

Agenda

Units
Seminar Agenda
Day 1
 
Course Introduction
9:00 – 9:15
I
Introduction to government contracting
9:15 – 10:00
 
Break
10:30 – 10:45
II
Basic principles of direct and indirect cost identification, accumulation, and distribution
10:45 – 12:00
 
Lunch
12:00 – 1:00
III
Basic principles (continued)
1:00 – 2:30
 
Break
2:30 – 2:45
III
Basic principles (continued)
2:45 – 5:00
 
 
Day 2
IV
FAR Part 31.2 Cost Principles
9:00 – 10:30
 
Break
10:30 – 10:45
IV
FAR Part 31.2 Cost Principles
10:45 – 12:00
 
Lunch
12:00 – 1:00
IV
FAR Part 31.2 Cost Principles (practical exercise)
1:00 – 2:30
 
Break
2:30 – 2:45
V
Applicability of Cost Accounting Standards
2:45 – 4:30
 
Course summary
4:30 – 5:00

Presenters

Frank J. Beatty, C.P.A.

Frank J. Beatty is a Director in the Government Contractor Services practice of Navigant Consulting, Inc., in the Vienna, Virginia office. He specializes in advising clients on matters involving government contract regulatory compliance; contract pricing; cost accounting; contractor compliance and ethics programs. Mr. Beatty has over 30 years of government contracting / audit experience gained from working in, and with, domestic and international companies in a variety of industries, including aerospace, defense, telecommunications, information technology, and healthcare.

Mr. Beatty consults with U.S. Federal Government contractors on complex cost allocability and allowability matters. He assists contractors interpret the Cost Accounting Standards (CAS) and the Federal Acquisition Regulation (FAR) cost principles, prepares CAS Board Disclosure Statements; performs internal control reviews on contractor systems; performs Truth in Negotiations Act (TINA) reviews (defective pricing) and assists contractors develop / restructure their indirect cost systems.

Mr. Beatty also consults with companies in connection with assessing the adequacy of internal processes, controls and self-governance programs. Recent engagements have included performing CAS and systems internal control self-assessments; evaluating the adequacy and effectiveness of compliance programs; Sarbanes-Oxley compliance reviews; assessing corporate ethics / hotline programs. Systems reviews include assessing labor charging practices; project cost accounting structures; indirect cost accounting practices; contract administration system; billing system, purchasing; and cost estimating systems.

Prior to joining Navigant Consulting, he directed the corporate compliance function in a Fortune 50 automotive / aerospace company and a U.K. Financial Times 20 automotive / aerospace company. He also served as the Director of Internal Audit at a Fortune 500 telecommunications provider. In these roles, he initiated audits of high-risk areas related to Government contracting and worked with both inside and outside counsel in reviews of contractual and compliance-related matters. He also served as the Chairman of the Business Ethics Committee at a Fortune 50 company. Earlier in his career, Mr. Beatty served in accounting and audit positions in the Board of Governors of the Federal Reserve System, the Defense Contract Audit Agency and the US Department of Defense Inspector General.

Mr. Beatty consults with contractors and their legal counsel on a variety of complex matters including alleged fraud, qui tam disclosures and other misconduct matters. He assists in determining the nature and extent of the damages and provides recommendations to improve internal controls. He works with contractors who have been proposed for debarment and are working under an Administrative Agreement with U.S. Departments of Justice and Defense officials.

Mr. Beatty assists clients in the preparation of cost proposals, re-designs cost allocation systems, and supports government audits and negotiations. He assists large commercial companies in preparing their accounting requirements necessary to obtain, or maintain Government contracts. He also works with clients in the development of their annual incurred cost proposals to be submitted to the Defense Contract Audit Agency. He also conducts Cost Accounting Standards compliance reviews and internal control assessments (self-audits) for contractors.

Mr. Beatty has worked with law firms in healthcare “qui tam” related matters and works with several Native Tribal American and Native Alaskan Tribal organizations in their regulatory and government audit matters - including Hurricane Katrina / FEMA audit issues. Mr. Beatty instructs training seminars on varied matters such as Basics of Government Contracting, Cost Accounting Standards, Federal Acquisition Regulation cost principles, labor charging and indirect cost accounting.

Mr. Beatty received his M.A. in Management from Central Michigan University and his B.S. in Business Administration and Accounting from George Mason University. He is a Certified Public Accountant in the Commonwealth of Virginia.
 

Registration Fee

$995

Dates and Locations
  • October 27, 2010 - October 28, 2010
  • 8000 Towers Crescent Drive, Suite 350
    Vienna, VA

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