Cost Accounting for Contractors

Code : FA013
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Why Attend This Training Course?

Public/private Contractors face unique regulatory compliance challenges. To convey confidence and minimize risk of non-compliance, you and your team must have practical knowledge of relevant Federal Regulations and accounting methods. This course examines the cost accounting environment within which Government Contractors must comply, report, and operate.

What Is The Training Course Methodology?
ACAD Corp’s methodology depends on enabling participants to interact and exchange experiences, explore their competencies and achieve their career aspirations, using forward-thinking training arts, such as Theoretical Lectures, Workshops, Open discussion to exchange opinions and experiences, Scenarios, innovative thinking brainstorming and teamwork, Role-play and simulation, and Audiovisual tools and materials. Participants will receive an agenda including training material as a reference, in addition to some extra notes and booklets. Training material will be presented in English and Arabic.

Who Should Attend This Training Course?

The training course is designed for different works management officials in organizations, subsidiary organizations of contracting officials, planning, executives' engineers, cost accountants at companies and contracting sectors and departments.

What Are The Training Course Objectives?
  • Explain the latest variables that effect cost accounting and its reflexes on cost accounting structure systems
  • 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 International Sandard Form
  • Applying scientific principles of contracting cost accounting in order to calculate the actual implemented works of each item of the contracting items, compare them with the estimated costs, measure deviations and analyze its causes
  • Provide examples of how the contractor's accounting system satisfies the auditor based on the audit program

What Is The Training Course Curriculum?

Preliminary Works Prior Contacting Works
  • Contracting work planning and its applications
  • GANAT CHARTS method
  • C.P.M. critical path method
  • Case study (I)
Preparation of Contracting work Measurements, according to Cost Estimation
  • Cost estimation
  • Cost control
  • Deviation measurement
  • Analysis and handle
  • Case study (II)
Actual Accounting of the Contracting Costs
  • The designing steps of the contracting cost accounting systems
  • The index of the contracting cost elements
  • Accounting for human work cost
  • Accounting for commodity accessories cost
  • Accounting for automatic work cost
  • Accounting for subcontracting cost
  • Accounting for other indirect elements costs
Methods of Measuring Profitability in Contracting
  • The complete contract method
  • The completion proportion method
  • Determining Costs Charged to Contracts
  • Allowability of Costs Charged to Contracts
Applied Examples of Some Contracting Types
  • Buildings construction contracting
  • Roads contracting
  • What are Provisional Billing Rates
  • Establishing Billing Rates
  • Submitting the Proposal
  • Billing and Monitoring Rates

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Course Details
Personal Details
ACAD Professional Certificate - APC
ACAD Training & Consulting uses the power of its network to bring about positive, tangible change. We champion the training courses profession and the interests of individuals, engaged in that profession, for the benefit of all. ACAD Professional Certificates are designed for those who are enthusiastic to challenge themselves to reach the extra mile. Participants who fully attend an APC course and successfully pass the exam on the last training day, will receive an ACAD Professional Certificate (APC). APC are regionally recognized and can be esteemed when applying for more senior roles in Egypt and MENA region.

Exam Details:

Duration: 1 hour | Multiple Choice | Closed book | Pass mark: 65%

Course Schedule

23 Apr - 04 May
10:00 AM To 3:00 PM
Cairo, Egypt
12 Sessions
09 - 20 Jul
10:00 AM To 3:00 PM
Dubai, UAE
12 Sessions
01 - 12 Oct
10:00 AM To 3:00 PM
Cairo, Egypt
12 Sessions

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