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Accounting and Auditing for Government Contracts

Overview

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!

Doing business with the federal government can be extremely challenging. Layering the extensive accounting requirements, internal controls, and system expectations that come with federal government contracts, it can become downright frightening. This course is designed to help contractors navigate the details of these requirements so that they can successfully recover all allowable and allocable contract costs incurred in support of their contracts. This course will also prepare contractors for the accounting requirements of government contracts and strategies in preparing for audits. Instructors provide real life examples of the challenges associated with the existing accounting and audit environment. Whether your company is new to government contracting or has been in the business for years, this course will be valuable to ensuring that you are up to speed with these ever-changing requirements and are prepared for the audit.

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

  • 13 CLEs
  • 13 CLPs

Features

  • Identify basic accounting terms and procedures required for government contracts.
  • Identify and discuss Federal Acquisition Regulations related to the determination of the allowability, allocability, and reasonableness of costs.
  • Identify contract types and different interim financing methods.
  • Identify revenue recognition methods unique to government contracts.
  • Identify special reporting requirements.
  • Distinguish competitive vs. non-competitive procurements.
  • Government contractor system expectations– accounting, estimating, timekeeping, and purchasing.
  • Determine the current audit environment through an overview of DCAA.
  • Examine the incurred cost submission and audit approach including penalties for unallowable costs.

This course is eligible for 15.6 CPEs 

George Mason University Continuing and Professional Education (formerly George Mason University Executive 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.

Requirements

100% attendance and participation are expected from participants.

Designed For

This course is designed for early to mid-career government contractors seeking to enhance their professional knowledge and skills. For seasoned contractors, this course also serves as a refresher on current industry best practices.

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in

Section Title
CFG 0425 - Accounting and Auditing for Government Contracts
Type
Online, fixed date
Days
W, Th, F
Time
10:00AM to 2:30PM
Dates
Mar 10, 2021 to Mar 12, 2021
Schedule and Location
Contact Hours
13.0
Location
  • Online
Delivery Options
Course Fee(s)
Course Fee non-credit $755.00
Section Title
CFG 0425 - Accounting and Auditing for Government Contracts
Type
Online, fixed date
Days
T, W, Th
Time
10:00AM to 2:30PM
Dates
Oct 12, 2021 to Oct 14, 2021
Schedule and Location
Contact Hours
13.0
Location
  • Online
Delivery Options
Course Fee(s)
Course Fee non-credit $755.00
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