Accounting System Requirements
The presentation will provide an overview of the pre-award accounting system review process. Participants will learn what occurs prior to the award of a cost-type contract, what is contained in the SF 1408, and what the applicable DFARS regulations say with regard to what comprises an acceptable accounting system. Total contract costs, including direct costs and indirect costs will be discussed.
Examples of typically seen indirect rates will be provided as well as a discussion of selecting a proper allocation base will also be provided.
Participants 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 along with the applicable DFARS clauses.
Finally, some common deficiencies will be discussed.
Public Vouchers
The presentation will provide an overview of Public Vouchers. Contractor responsibilities for voucher preparation will be discussed along with the criteria for an adequate billing system. Participants will learn about the Department of Defense’s Wide Area Workflow (WAWF) electronic payment system and resources that are available to assist with utilizing the system. Additionally, common deficiencies found during DCAA voucher reviews will be discussed.
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Guest Speaker:
Jeremy D. Scott is a DCAA Financial Liaison Advisor located at the U.S. Army Contracting Command, Redstone Arsenal, AL. In this capacity, he serves as an advisor to Command senior management and program officials on contract and financial issues. Mr. Scott is responsible for facilitating and coordinating audit services between DCAA field audit offices and the Command. As a Financial Liaison Advisor, he is routinely involved with delivering specialized training to Contracting Officials on accounting, auditing
and financial matters in areas of DCAA responsibility.
