Critical Government Contract Cost Accounting and Financial Compliance


In support of the health and safety of our students and university community, all Mason Professional Education courses are being delivered in virtual formats now through May 2021. We are fully operational and courses will begin on their scheduled start date. Register today!

We are with you! In light of the challenges many of you are facing due to the pandemic - we have lowered our tuition to help you access high quality, career advancing training in a time we know resources are tight. Institutional discounts are available, as well. A student enrolling in the course listed on this page (at full tuition price) will allow for multiple other employees from your organization (same email address domain name) to access this same, high quality course at significantly reduced rates. Please contact Frank Vollmer at 703-993-4838 if you would like corporate access with institutional discounting for this course.

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)

This course may also be eligible for the following credits through The Public Contracting Institute:

This series is also eligible for 12.00 CPEs (2 CPEs per session)

George Mason University Continuing and Professional Education 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, Nashville, TN, 37219-2417.


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
  • 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.

Thank you for your interest in this course. Unfortunately, the course you have selected is currently not open for enrollment. Please complete a Course Inquiry so that we may promptly notify you when enrollment opens.

Required fields are indicated by .