In this course, Mr. Greger (DCAA) provides an overview of the pre-award accounting system design review process. You will learn:
- What occurs before the award of a cost-type contract.
- The contents of the SF 1408.
- What applicable DFARS regulations say about the requirements for an acceptable accounting system.
Mr. Greger also discusses total contract costs, including direct and indirect costs. He provides examples of typically seen indirect rates and discusses selecting a proper allocation base. You will learn about the FAR Part 31 clauses that cover allowability, allocability, and reasonableness as well as concepts such as Contract Terms, Accounting for Contract Costs, Labor System, Timekeeping, Unallowable Costs, Cost by Contract Line Item, Billings, Cost Accounting Information, and Management Reviews/Internal Audits. Finally, Mr. Greger discusses some common deficiencies to help you avoid making the same mistakes.
Target Audience: small business owners, CPAs/IPAs who support small businesses, individuals in the procurement community.