Government Accounting Requirements and Preparing for Contract Audits (WA)

These courses are designed to cover two separate but complementary topics. They are designed to be taken together but can be taken separately.

Day 1: Federal Government Contract Accounting

Contracting with the U.S. Government can be challenging, but when you consider the unique accounting requirements, internal controls and system expectations, and government regulations, it can become overwhelming. This course is designed to help contractors navigate these requirements to successfully recover all allowable costs incurred in support of their contracts. Whether your company is new to government contracting or has years of experience, this course will help ensure you are up to speed on these changing accounting requirements.
 

Day 2: Preparing for a Federal Government Contract Audit

The course is designed to help government contractors develop strategies for mitigating contract cost audit risk and vulnerability by discussing the processes used by contract auditors.  This course provides an overview of the government contract audit process, auditor expectations regarding the adequacy of accounting systems, labor timekeeping and distribution, cost representations for forward pricing, billing, and incurred costs. By knowing the factors and processes that influence contract audit risk, contractors will be in a better position to develop strategies to handle issues that arise during contract audits. This course is recommended for those individuals responsible for contract audit related issues and preparing cost input or information for audit review.