Gain a comprehensive understanding of the pivotal role that consistent costing and cost accounting practices play within the federal contracting environment. This course delves into every phase of the contracting lifecycle-from bid preparation and cost recording to reporting and invoicing-highlighting the importance of accuracy, compliance and effective cost management.

Learn how to isolate and segregate costs within company records to ensure precise cost allocation, compliance with federal regulations and adherence to both full and modified cost accounting standards (CAS).

Discover key cost-related concepts, such as performance-based payments (PBP) and earned value analysis (EVA), which are critical for measuring performance and ensuring successful contract execution.

With a strong foundation rooted in authoritative resources, including the federal acquisition regulation (FAR), 48 CFR chapter 99 (FAR appendix), the contract pricing reference guides (CPRG) and defense contract audit agency (DCAA) guidelines, this course equips you with the knowledge and tools to achieve compliance when estimating, tracking and reporting contract costs.

This course is essential for professionals engaged in federal contracting who seek to enhance their cost accounting expertise, improve compliance practices and ensure the success of their contracts.

What You Will Learn:

• Cost and price analysis: Master the principles of federal cost accounting, including cost elements, cost allowability and techniques for cost and price analysis to achieve fair and reasonable pricing.
• Cost data collection and reporting: Understand the types of cost and pricing data required by the government, including certified cost or pricing data, and learn how to meet CAS compliance standards effectively.
• Requirements analysis: Develop the skills to analyze solicitations, identify contract requirements and create realistic project plans with accurate cost estimates and schedules.
• Contract performance measurement: Gain practical insights into post-award contract performance evaluation, learning techniques to analyze cost and schedule performance metrics in alignment with the federal acquisition system.

This is the last course in the three-course Federal Contract Management Certificate Program.

Earn 2.1 Continuing Education Units (CEUs).