Watkins Academy Curriculum is designed specifically for your firm to teach you what you need to know - courses with real-world application that impact your bottom line. Our focused in-person classes can be tailored to meet your schedule and your current knowledge level.
On-site learning is more cost-effective than traditional offsite training; you save on travel costs, employee overtime and expenses, and you can learn in the comfort of your own office.
Basics of Contracting
- Agencies & Acquisition Language
- FAR & Other Regulations
- Contract Types & Vehicles
- Indirect Rates
In these courses, we will introduce the structure and application of the FAR as well as other agency regulations. In addition, students will be introduced to the agencies and offices that are responsible for regulating cost, labor reporting, and other contractual requirements such as ethics policies and conflicts of interest. Perhaps most importantly, Watkins instructors will present an overview of commonly-used language, terminology, and acronyms.
- Policies & Procedures
- Labor & Timekeeping
- Reporting & Revenue Recognition
- Cost Principles
Accounting courses will address how government contracting regulations and requirements influence financial reporting, including: recognizing revenue as it relates to types of contacts, contract terms, and incentives; capturing of direct, indirect, and unallowable costs; understanding indirect cost allocations and various approaches to allocating costs; complying with GAAP; common areas of misstatement and misunderstanding; approaches to monitoring compliance; and financial statement disclosures.
- Policies and Procedures - Other Systems
- Audit Readiness
- Internal Controls & Risk Assessment
- Oversight - DCAA/DCMA
Business Systems courses focus on the federal government’s current initiatives to ensure that government contractors implement and maintain adequate systems of internal controls. We will prepare your staff for a business systems audit; how you should collaborate with the auditors during the audit engagement; and how to respond to any adverse findings.
- Pricing to Win
- Ethics & Conflicts of Interest
For the staff who have mastered the basics, these courses expand on Federal contract pricing and cost, including: Estimating, Truth in Negotiation Act, Cost Principles, Compensation, Travel, Leases, and Organizational vs. Accounting Changes. In addition, subcontracting and purchasing system requirements are discussed, including recommended filing systems (electronic or paper) and retention requirements. Pricing to Win includes marketing, selecting which projects to go after, proposal preparation, and winning pricing strategies.