Financial Management Of Government Contracts

This web-based training course on Financial Management Of Government Contracts functionality, administration and development, is available online to all individuals, institutions, corporates and enterprises in India (New Delhi NCR, Bangalore, Chennai, Kolkatta), US, UK, Canada, Australia, Singapore, United Arab Emirates (UAE), China and South Africa. No matter where you are located, you can enroll for any training with us - because all our training sessions are delivered online by live instructors using interactive, intensive learning methods.


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Course Details

This course helps trainees to understand the contract cost, accounting and financial aspects of government contracts. With this training program trainees will learn financial analysis, risk management, procurement and acquisition, cost accounting standards, understanding accepted accounting principles, understanding the scope of work, developing the statement of work, understanding bidding rates, cost reimbursement and accounting implications. This training program educates trainees to learn contract funding, full funding, incremental funding, ordinary and alternate liquidation rates and understanding billing rates. Furthermore trainees will learn, formal change orders, constructive changes, understanding normal closeout, pre award audits and past award audits. There are no prerequisites for this course. This course is beneficial for both fresher and professionals to enhance their learning and skills.


Introduction

  • Various Types of contracts
  • Explaining Procurement and acquisition
  • Describing Financial analysis
  • Explaining Risk management
  • Payment policies and practice

Financial & Cost Rules

  • Explaining Federal Acquisition Regulation
  • Describing Agency Supplemental Regulations
  • Calculating Cost Accounting Standards
  • Understanding Accepted Accounting Principles
  • Generally Accepted Auditing Standards

Pre-Award Cost Issues

  • Explaining Cost Accounting Systems
  • Internal Cost Structure
  • Define Direct cost
  • Define Indirect cost
  • Explaining Cost pool structure
  • Describing Capitalized expenditures
  • Various Pre-Award Surveys
  • To assess Contractor Risks
  • Understanding the Scope of Work
  • Developing the Statement of Work
  • Various Pricing Estimating strategies
  • Understanding Bidding Rates
  • Developing Cost

Types Of Contracts

  • Explaining Fixed Price
  • Describing Cost Reimbursement
  • Accounting Implications

Contract Funding

  • Explaining Full Funding
  • Define Incremental Funding
  • Internal Funding
  • Explaining Reserves and Contingencies
  • Differentiate Spending vs. Funding

Contract Financing

  • Explaining Progress Payments
  • Loss Contracts
  • Understanding Ordinary and Alternate Liquidation Rates
  • Contract Payments
  • Interest Penalties

Incurred Costs

  • Reasonableness
  • Explaining Advance Agreements
  • Understanding Billing Rates (Labor & Overhead)
  • Understanding Truth in Negotiations Act
  • Penalties for Claiming Unallowable Costs

Scope Changes And Contract Cost

  • Explaining Formal Change Orders
  • Various Constructive Changes

Government Audits

  • Understanding Entrance & Exit Conferences
  • Explaining Pre-Award Audits
  • Post-Award Audits
  • How to Manage Audits?

Contract Closeout

  • Explaining Final Rates
  • Incentive Price Provisions
  • Understanding Contract Profitability
  • To explain Quick Closeout
  • Understanding Normal Closeout
Live Instructor-led & Interactive Online Sessions


Regular Course

Duration : 40 Hours


Capsule Course

Duration : 4-8 Hours

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Training Options

OPTION 1

Weekdays- Cloud Based Training

Mon - Fri 07:00 AM - 09:00 AM(Mon, Wed, Fri)

Weekdays Online Lab

Mon - Fri 07:00 AM - 09:00 AM(Tue, Thur)


OPTION 2

Weekend- Cloud Based Training

Sat-Sun 09:00 AM - 11:00 AM (IST)

Weekend Online Lab

Sat-Sun 11:00 AM - 01:00 PM


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