Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

C05 Accounting for Contract Managers: The True Love Language of Contracts!

251 views

Published on

Published in: Business
  • Be the first to comment

  • Be the first to like this

C05 Accounting for Contract Managers: The True Love Language of Contracts!

  1. 1. Accounting for Contract Managers: The True Love Language of Contracts Breakout Session # C05 Robert E. Jones, CFCM, CCCM Consultant & Speaker Left Brain Professionals Inc. Monday, November 3, 2014 3:45pm – 4:50pm 2
  2. 2. 3 Positive Share
  3. 3. 4 Safety Check
  4. 4. Why Are You Here? By the time accounting sees the contract, it's usually too late to make any changes! More of an emotional presentation than a factual one. 5
  5. 5. You ARE Here! The intersection of contracts & accounting. Where DCAA and DCMA meet to hold hands and sing kumbaya. 6
  6. 6. 7 A Love Language? Is it a love/hate relationship? Marital bliss? Head in the sand?
  7. 7. 8 My Story
  8. 8. Types of Transactions Time Materials Travel ODC Subcontractors Property 9
  9. 9. A Record of Transactions A contract is an agreement for a series of transactions. Contracts are the vehicle for communicating the accounting (cost and price data) information and requirements. 10
  10. 10. Understanding Transactions Do you need to understand contracts to better understand accounting? Do you need to understand accounting to better understand contracts? 11
  11. 11. Six Business Systems 1. Accounting and Billing Systems (DCAA, DFARS 252.242-7006) 1. Contractor Purchasing System Administration 12 (DCAA, DFARS 252.244-7001) 1. Cost Estimating System (DCAA, DFARS 252.215-7002)
  12. 12. Six Business Systems 4. Contractor Property Management System Administration (DCMA, DFARS 252.245-7003) 4. Material Management and Accounting System (DCAA, DFARS 252.242-7004) 4. Earned Value Management System 13 (DCMA, DFARS 252.234-7002)
  13. 13. Small vs Large Business Are there different requirements for different sizes of businesses? 14
  14. 14. Accounting & Contracts Together? Teamwork! 15
  15. 15. Where Do We Focus? I am a "when" not an "if" kind of guy. Start with the end in mind and prepare for the final exam. 16
  16. 16. Contract Types & Accounting FFP – simplest T&M - time collection Cost-type - time and cost collection 17
  17. 17. Setting Up Systems Software tools automate postings by type and perform rate calculations. 18
  18. 18. Resources DCAA http://www.dcaa.mil/ Checklists Information for Contractors Cost Accounting Standards DCMA http://www.dcma.mil/ FAR 31 http://www.acquisition.gov/ 19
  19. 19. 20 Thank You!
  20. 20. Contact Information Robert E. Jones robert@leftbrainpro.com (513) 728-1163 21

×