11:00 AM - 12:30 PM (EASTERN TIME)
When it comes to compliance for government contractors, there’s a lot you need to know. The rules and regulations for business systems set out by the Defense Contract Audit Agency (DCAA) and those established by the Defense Contract Management Agency (DCMA) for physical assets can be dense, to say the least. As intricate as the regulations may be, any system can be compliant.
So what exactly do these two agencies look for? For DCAA, being compliant means adhering to the three major standards and guidelines: Cost Accounting Standards (CAS), Federal Acquisition Regulations (FAR), the Generally Accepted Government Accounting Standards (GAGAS). These standards outline how government contractors need to set up their system and contracts for accounting and cost reporting (pre- and post-award). Altogether, the regulations set by DCAA are intended to ensure that government contractors are financially stable enough to deliver appropriate services and complete contracts.
- What is DCAA and DCMA Compliance?
- What Compliance looks like as it pertains to accounting system compliance
- Understand Chart of Accounts that clearly segments Direct Cost from Indirect Cost, Allowable Cost from Unallowable cost
|CPE(NASBA Category)||Finance||Reviewer||Wade Tetsuka, CPA|
|CAE (Field of Study)||Administration – Financial Management||CPE/CAE Credits||1.5|
|Prerequisites and advance preparation needed||None. No advance preparation required.||Cost||$0.00|
U.S Transactions Corp. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org