Fundamentals of Federal Contract Cost Accounting

In this course you will learn about the fundamental cost accounting principles imposed by the Federal Acquisition Regulation and review the requirements of an acceptable accounting system. The course will demonstrate these concepts by following an example of how a DCAA compliant accounting system should be configured.

This course is designed to:

  1. Present the requirements necessary for a Government Contractor to pass a DCAA Accounting System Review.
  2. Provide an understanding of the compliance environment in which Government Contractors operate.

Course Content includes:

  • Checklist used by DCAA in conducting Accounting System Reviews
  • Allowability, Reasonableness, and Allocability of Costs
  • Accounting for Direct and Indirect Costs
  • Indirect Cost Pools and Allocation Bases
  • Indirect Rate Computations
  • Timekeeping System and Labor Distribution Requirements
  • Unallowable Costs
  • Contract Cost Reporting
  • Future Pricing
  • Accounting Policy Templates

View Course Outline, including video subjects and course materials.




The course will be available on this site for thirty (30) days from the time of purchase.

Technical Requirements:

  • This course includes PDF files which require a compatible PDF reader. You can get Adobe's Reader from
  • The following are the minimum browser versions required to view the videos
    Browser Version
    Chrome 4
    Firefox 3.5
    Edge 14
    Internet Explorer 9
    Safari 10