NCMA: Accounting for Government Contracts

Cost: $55 members/ $69 non-members

Government contracting is rich and complex, full of intricacies and quirks. Commercial accounting practices are inadequate to meet government contracts’ advanced reporting requirements. Factors such as contract type affect your reporting and billing requirements. From the chart of accounts to timekeeping, job costing, and proposal pricing, you need to rethink many of your accounting practices.

During this 90-minute virtual training, SN’s Robert E. Jones, CPA, CPCM, will highlight the differences between commercial and government contract accounting and offer tips for success. We’ll also cover the accounting system requirements in SF 1408, referencing the FAR, DFARS, and DCAA guidance. If you’re new to government contracts or growing this part of your business, this webinar is for you!

Learning Objectives:

• List the differences between commercial and government contract accounting
• Explain the impact of contract type on accounting
• Identify the need for an adequate accounting system

NCMA’s Contract Management Body of Knowledge (CMBOK) defines the professional standard for the contracting workforce, encompassing the knowledge and skillsets required to work in contract management in seven core competencies: leadership, management, guiding principles, pre-award, award, post-award, and learn.

Learn more about this course, NCMA, or CMBOK, at ncmahq.org.