Accounting Systems for Government Contractors (111151-12)
Description
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
