Course ID: ASGC

Expired – Business Systems Rule and the Accounting System: Passing the Government’s System Review

This course will give you an understanding of the unique system requirements for government contractors accounting systems and the minimum levels of internal controls that must be implemented as part of an acceptable system. Learn what software systems are available or can be uniquely designed for use by contractors. You will also evaluate a hypothetical system and then correct perceived deficiencies and shortcomings.


LEARNING OBJECTIVES
  • Provide participants with an understanding of the unique systems requirements for government contractor’s accounting systems
  • Discuss software systems available that are or can be designed for use by government contractors
  • Provide participants with an understanding of the minimum levels of internal controls that must be implemented as part of an acceptable system
  • Allow participants to evaluate a hypothetical system to correct perceived deficiencies and shortcomings

MAJOR TOPICS
  • The need for a unique system
  • Direct and Indirect costs
  • Treatment of unallowable costs, both direct and indirect
  • Accounting for labor
  • Simple vs. complex systems
  • Comparison of various “canned” government contractor accounting software, from the simple to the complex
  • Expense treatments for tax vs. government contract accounting
  • Case Study
  • Looking for minimum requirements and redesigning a system

DESIGNED FOR
Accountants and other contract professionals in industry, public accounting or government who would benefit from understanding government contractor's accounting systems; Accountants performing rate certifications/audits for clients having consulting agreements with various state Departments of Transportation or clients having contracts with the Port Authority or Transit Authority

FIELD OF STUDY
Accounting (Gvmt)

PREREQUISITES
None

COURSE PRODUCER
Business Learning Institute

CPE CREDITS
8.0

LEVEL
Basic

This course is available for your group as:

Group Live
 

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