ICAT Systems Online Training ICAT Systems Online Training ICAT Systems Online Training ICAT Systems Online Training

ICAT Systems Launches CPE Certificate Program in Government Contract Cost Accounting

New online QAS Self Study course on the fundamentals of Federal Contract Cost Accounting delivers comprehensive on-demand training eligible for 12 CPE credits

By Robert Smith, CPA
CEO of ICAT Systems

June 6, 2019

Government Contractors face unique regulatory compliance challenges. In my 30+ years as a certified public accountant in this industry, I’ve seen a clear and consistent need for professionals who can provide guidance on how to navigate the Government’s oversight of the Contractor’s cost accounting and billing of contract costs.

Today, ICAT Systems is excited to announce the first on-demand CPE certificate program in Government Contract Cost Accounting. This comprehensive course is designed to help Government Contractors and their accounting professionals master the day-to-day accounting methods and compliance requirements for three core competencies:

  • Accounting System Compliance
  • Provisional Billing Rates
  • Final Indirect Cost Rate Proposals

CPE Eligible

This 100% online, self-paced training is approved for the award of 12 CPE as a QAS Self Study program upon successful completion of the course and final exam. After a thorough review by NASBA (National Association of State Boards of Accountancy) to ensure compliance with The Statement on Standards for Continuing Professional Education (CPE) Programs, ICAT Systems has been approved for the QAS Self Study delivery method on the National Registry of CPE Sponsors. ICAT Systems also maintains registration for Group Live training programs.

What You Will Learn

With over 31 video lessons, along with interactive quizzes and activities, source materials, and an exclusive companion eBook, you will gain the knowledge and tools to:

  • Identify the compliance requirements that arise from the award of certain contract types.
  • Differentiate types of costs and associated methods used for cost accounting in Government contracts.
  • Relate the configuration of a contractor's accounting system to the criteria in Standard Form 1408.
  • Provide examples of how the contractor's accounting system satisfies the auditor based on the audit program.
  • Recognize the requirements for establishing and monitoring provisional billing rates pursuant to FAR Subpart 42.7.
  • Evaluate the adequacy of each schedule included in a contractor's Final Indirect Cost Rate Proposal, pursuant to FAR Clause 52.216-7.
  • Identify relevant source regulations and guidance pertaining to accounting system compliance, provisional billing rates, and final indirect cost rate proposals.

Training On Your Schedule

Since 2004, I have taught seminars and workshops to accountants and business executives in a classroom setting. These days schedules, travel expenses, and time away from billable hours make live training hard to prioritize.

Building on our popular live courses, we’ve developed this comprehensive e-learning program using a modern cloud-hosted learning management system. No flight delays. No time away from family. And your clients won’t get an out of office message when they really need you. It’s training for you and your staff on your schedule, on your device, wherever you are.

This is the business in which you make your living. With online training, we’re making it easier for you to build the expertise to successfully manage contracts and grow your business.

For full course details and registration information visit  www.ICATSystems.com/OnlineTraining

NASBA - National Association of the State Boards of Accountancy
ICAT Systems is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.