Darrell Hineman and Stefania Rafeedie will present:
Myths and Truths of Accounting for Government Contract Types
• Explore some of the myths and challenges around reporting Government cost accounting practices versus reporting for financial accounting purpose.
• Given the numerous compensation methods under Government Contract (i.e. FAR Part 16), we will examine how the contract type influences Contractor’s decision makers when planning, proposing and reporting financial results. Dealing with the risks and uncertainty is the rule, not the exception. The contract type may be cost reimbursable or fixed price with numerous variations in-between.
• Other issues in managing and administering accounting for terminations, change orders and modifications.
Time: Doors open at 7:00 AM, Speaker starts at 8:00 AM, done by 9:30 AM.
Location: Tower Club, 8000 Towers Crescent Drive, Suite 1700, Tysons, VA 22182. Please check the 17th Floor receptionist to find our room, and get your parking validated. http://www.clubcorp.com/Clubs/The-Tower-Club-Tysons-Corner
Sponsor: Access National Bank is a Gold Sponsor of the IMA Government Contractor Breakfasts, allowing us to host the events at the Tower Club for a reasonable price.
Registration & Price: $30 prepaid or $35 cash or check at the door. Either way, please preregister. Your advance registration helps us to ensure that the room size is adequate.
Benefits: 1 hour of CPE, along with a breakfast buffet.
IMA Government Contractor Breakfast Yahoo Group: https://groups.yahoo.com/neo/groups/ima_ncc_govt/info - Read all about us here!
Darrell M. Hineman, CPA, CFE, is a director with CohnReznick’s Government Contracting Industry Practice, located in the Washington, D.C. area. He has spent his career in accounting and Federal Government contracting arena, assisting clients in navigating through government contracting regulations, especially in researching and interpreting the Federal Acquisition Regulations (FAR) cost principles, Cost Accounting Standards (CAS) and various other regulatory supplements. He has worked with many branches of the U.S. Government, such as the Department of Defense (DOD), the Department of Energy (DOE) and the Department of Health and Human Services (HHS) to name a few.
Darrell has worked both in the industry, as a government contractor, and as a government auditor for the Defense Contract Audit Agency (DCAA). Prior to joining the Government Contract Industry Practice, he managed CAS disclosure statement and 45 indirect cost pools for large IT contractor; prepared detailed cost impact proposals; and wrote numerous policies and procedures that covered such areas as procurement, compensation and labor. Early in his career, he served as an auditor with DCAA, where he led multiple engagements. His experience includes cost proposals, terminations, equitable adjustments, progress payments, CAS compliance, defective pricing claims and other government dealings.
Stefania Rafeedie, is a Manager with CohnReznick’s Government Contracting Industry Practice, located in the Washington, D.C. area. Stefania has over seven years of consulting and industry experience, including indirect cost allocation, process improvement, internal controls, and proposal support. She also has assisted clients with designing and implementing systems to adequately address the financial accounting, project management, and compliance issues facing Government award recipients.
Stefania has provided consultations to management teams in both regulatory interpretations and in assisting organizations identify opportunities to streamline existing processes. In this capacity, she works with management teams to ensure adequate internal controls, compliance, and synergies are implemented across the organization. She also has assisted in forensic accounting reviews and developed analyses with detailed findings and recommendations. In addition, she has assisted organizations develop policies and procedures to address identified risks.