2015 Essential Accounting Updates for Federal Contracts Class

Event Date: 3/20/2015

Federal accounting regulations change constantly. Are you keeping up with all the new DCAA, DCMA, DFARS compliance requirements and recent court rulings that affect your contracting business? Stricter controls for business and accounting systems, enforcement of penalties for unallowable costs, and changes in compensation limits are among new compliance factors putting contractors at greater risk for penalties, disbarment and loss of profits. Don’t wait for your next audit to find the gaps in your knowledge–NOW is the time to take a fresh look at your federal accounting practices.

The knowledge you’ll gain in this class, implemented through a solid accounting system, is a competitive advantage that supports your ability to:

  • Protect your profits and keep cash flowing
  • Accurately and profitably price proposals to win business
  • Demonstrate to potential customers that you understand the rules, have your house in order and will be an excellent business partner
  • Position your company to successfully pass a pre-award system audit
  • Navigate confidently through all types of compliance factors and audits

Regardless of your experience with federal accounting, this course will provide new and updated  information, and strategies and increase your understanding of government contract accounting.

Class instructors from Aronson LLC, a leading financial advisor to government contractors, will share expertise, advice and best practices to solve your federal accounting challenges and reduce your audit risk. You’ll gain valuable insight and competencies in:

  • Requirements and implementation of an Approved Accounting System
  • Types of contracts and the risks and rewards of each
  • Requirements of Cost Accounting Systems (CAS), including new FAR rules
  • Understanding FAR 31 distinctions, including direct vs indirect costs, unallowable costs, non-billable costs, incurred cost submission, provisional billing rates, and more
  • New changes in compensation limits affecting FAR 31.205-6(p), OFPP benchmarks for executives and contracts
  • Requirements for your written policies and procedures
  • What to expect in pre-award audits, financial audits, floor checks, and incurred cost audits
  • Metrics for key performance indicators to better track the health of your company
  • Current actions in the Federal Marketplace


Date: Friday, March 20, 2015
Time: 8:30am – 4:00pm
Credits: 7 CPEs, 0.7 CEUs
Location: bwtech@UMBC Research and Technology Park, Baltimore, MD 21228

For more information and to register click here

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