Course Description:

The US federal government is the largest buyer of goods and services across the world. They make purchases through the federal procurement process, which is through government contracts. The federal government has a pool of about $400 billion set aside specifically for federal contracts. However, a company cannot just bid on a contract without being prepared. There are several sets of acquisition regulations, laws, and rules related to government contracts that must be adhered to when doing business with the government. Most of these regulations, laws, and rules relate to the financial aspect.

Total costs associated with contracts are the sum of indirect and direct costs allocable to the contract or those incurred. In order to determine if a company’s costs are allowable, allocable, and reasonable, there has to be a review of the company’s internal control environment as a whole. The accounting system is the largest system in the internal control system. The government’s goal is to protect taxpayer dollars when it comes to government contracts. Therefore, they must verify a company’s costs are derived from a compliant and adequate internal control system. There are also several steps companies must take from start to before and after winning a contract. You need to know how to properly register your company as a government contractor, what types of certifications you need, how to market to the government, and more.

In this two day workshop, participants will learn all the steps involved in preparing your company to do business with the government. They will learn how to develop and maintain compliant systems and pricing, which are the determining factors in whether you win a contract or not. Additional takeaways from the seminar will include:

  • Understanding what DCAA looks for when they come to perform audits and how to prepare for the audits.
  • Understanding how to develop a good government sales team to help your company successfully market, locate opportunities, and bid on proposals.
  • Examples of how to develop adequate pricing and a chart of accounts for government contracting will be provided.

Learning Objectives:

Upon completing this course, participants will:

  • Understand what government contracting is and how it can help companies grow
  • Understand how to register as a contractor with the government
  • Understand how to identify the correct industry codes for your company
  • Understand how to determine your business size and what set-asides are available
  • Have an understanding of different federal regulations for contracting (i.e. FAR, CAS, DFARS)
  • Know how to determine if your accounting system is adequate for government contracting
  • Know how to determine if your internal control system as a whole is adequate for government contracting
  • Develop adequate pricing for proposals
  • Understand what DCAA looks for in an audit
  • How to prepare for a DCAA audit
  • How to maintain compliance after winning a contract and throughout the performance period of the contract

Who Will Benefit:

  • Small businesses
  • Medium/large businesses
  • Contract management personnel
  • Compliance professionals
  • Business development personnel
  • Accountants/accounting personnel
  • Bid and proposal personnel
  • Nonprofit organizations
  • Colleges and universities procurement staff
  • Internal auditors
  • Executives
  • Business consultants, coaches, and trainers
  • Military veterans

Topic Background:

Companies planning to do business with the government should be prepared to be audited by the Defense Contract Audit Agency (DCAA). DCAA performs all needed contract audits for the Department of Defense (DoD). DCAA also provides other accounting and financial advisory services to DoD sections that are in charge of contract administration and procurement. DCAA also provides contract audit services to other federal agencies as needed. DCAA’s job in performing audits and other services is to confirm that taxpayer dollars are being spent on fair and reasonable contract prices. The audits are done to ensure that companies have adequate and compliant internal control and accounting systems, business systems, written policies and procedures, pricing, and records. They also ensure compliance with Federal Acquisition Regulations (FAR), Defense Federal Acquisition Regulations Supplement (DFARS), Cost Accounting Standards (CAS), Truth In Negotiations Act (TINA), and other federal acquisition rules and laws.

Day One (8:30 AM – 4:30 PM) Day Two (8:30 AM – 4:30 PM)

Registration Process: 8:30 AM – 9:00 AM

Session Start Time: 9:00 AM

  1. Government Contracting Introduction
    1. What is it?
    2. Annual Contracting Goals
    3. Contract Set-Asides
    4. Prime Contracts vs. Subcontracts
  2. Registering as a Contractor
  3. Identifying the Correct Industry Codes
    1. North American Industry Classification System (NAICS)
    2. Cage
    3. Standard Industrial Classification (SIC)
  4. How the Government Buys
    1. Solicitation Types
    2. Contract Methods
    3. Contract Types
  5. How to Market to the Government
    1. How to Locate Opportunities
      1. Bid Matching Services
      2. Vendor Lists
    2. Contract Vehicles
      1. GSA Schedules
      2. Government Wide Acquisitions
    3. Developing a Good Capability Statement
    4. Developing a Good Sales Team
    5. Teaming Arrangements
    6. Networking with Government Agencies

  1. What Are Contract Regulations?
    1. Federal Acquisition Regulations (FAR)
    2. Cost Accounting Standards (CAS)
    3. Defense Federal Acquisition Regulation Supplement (DFARS)
    4. Other Regulations
  2. Internal Control System Overview
  3. Adequate Accounting System Requirements
  4. Developing a Compliant Chart of Accounts
  5. Developing Adequate Pricing
    1. Direct Costs
    2. Indirect Costs
    3. Cost Pools and Allocation Bases
    4. Indirect Rate Calculation
  6. What DCAA Looks For in an Audit
  7. What Happens During a DCAA Audit
  8. Developing Adequate Written Policies and Procedures
  9. Maintaining Compliant Labor and Timekeeping Records
  10. Maintaining Compliance after Contract Award
  11. Tips For Preparing Proposals

Meet Your Instructor

JeFreda Brown
CEO of Goshen Business Group, LLC

Financial and business compliance coach, JeFreda Brown, helps maximize the business potential of small and medium sized businesses, nonprofits, government agencies, colleges, organizations, agencies, and self-employed individuals.

As CEO of Goshen Business Group, LLC (formerly Brown Accounting Solutions, LLC), Ms. Brown can provide a unique suite of specialized services that are customized for an organization’s particular needs. Some of her areas of expertise include tax planning, budget preparation, DCAA audit consulting, government contract accounting system and internal controls compliance consulting, pricing proposal development, financial management, payroll compliance, business development/management consulting, professional development training, train the trainer services, business planning, grant writing, 501(c)(3) preparation, and more.

With over 16 years of business experience in areas such as accounting, finance, real estate, taxes, federal auditing (DoD), low income housing tax credits, project and compliance management, contract administration, human resources, and teaching, Ms. Brown is one of America’s premiere financial and business compliance coaches. She earned her BS degree in math from Mississippi State University with a minor in Spanish. She also has an MBA in finance from Mississippi College.

In November 2010, Ms. Brown was chosen as the winner of the Black Enterprise Magazine and Porsche Cars’ Intelligent Performers contest out of over 300 entries across the country. She has been featured in numerous print and online articles for various industry websites, blogs, and magazines including US News, YFS Magazine, DailyWorth, and Intuit Small Business Blog. She has also been interviewed on Bloomberg Radio and The Ambitious Entrepreneur Show. She is the author of the eBook, 12 Reasons You Need an Accountant for Your Small Business available on Amazon. Ms. Brown is also featured in the forthcoming book, How To be #HLIC Head Lady in Charge as well as the Head Ladies in Charge movie. She is also an adjunct professor in the accounting and finance department of the Collat Business School at the University of Alabama in Birmingham (UAB).

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