Unraveling the Mystery of DCAA Compliance for Government Contractors
In government contracting, accounting is as important as the contract itself. In fact, the contract type dictates certain accounting requirements including invoice formats and status reports. If you’re performing work on a government contract, you must follow certain rules and may be required to have an approved accounting system. Government contractors must comply with accounting regulations in addition to GAAP. The intricacies of FAR 31 compliance, Cost Accounting Standards, and Defense Contract Audit Agency (DCAA) audits often elude even the most experienced accountants.
This session is a must if your organization or clients perform work on government contracts. Learn about indirect rates, cost pools, allocation methods, unallowable costs, SF 1408 system surveys, and the infamous Incurred Cost Proposal. Bring pen and paper—there is a lot of information to share.
After the session, attendees will be able to:
1. Describe DCAA’s Information for Contractors—basic accounting system requirements including cost pools, allocation methods, and timekeeping.
2. Identify FAR 31 Cost Principles—guiding principles for the treatment of costs including the allowability of certain costs.
3. Recognize Cost Accounting Standards—standards promulgated to standardize accounting across all government contractors.
4. Distinguish Common DCAA Audits—review a list of common audits including pre-award and post-award audits, floor checks (timekeeping audits), and SF 1408 system surveys.
- IMA - ACE 2019
June 19, 2019
9:50 am - 11:05 am
Venue Phone: (619) 291-2900