Contracting with the federal government can be expensive and burdensome. However, in 1995, Congress passed the Federal Acquisition Streamlining Act which simplified procedures and contract requirements for the procurement of commercial items. This exception to the Truth in Negotiations Act provides significant relief by reducing bureaucracy, oversight and administration by using commercial items. Unfortunately, over the past two decades, many agencies are leaning back to the onerous processes and oversight as hurdles are being created that block attempts to use commercial item acquisition and make the significant benefits harder to realize.
This virtual class will provide insight into the first step in the process for using commercial item acquisition – the creation of a commercial item determination – aka the “CID”. Our instructors will review current guidance and help set out expectations for preparing and evaluating CIDs. Whether you are buying or selling commercial items, this is your opportunity to learn practical approaches to maximize the use of commercial item acquisition procedures and bypass the burden associated with cost justified pricing administration.
The second step – Commercial Item Pricing & Challenges in the Current Environment – is presented on June 16th.
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Upon completion of this session the participant should know:
- Important requirements and advantages of commercial item (goods and services) contracting for the buyer and seller
- Market research and documentation strategies and tactics for commercial item determinations
- Key requirements for CIDs as outlined by procurement officials
- Recent trends and developments affecting commercial item acquisitions
Ki Capitano is a Consultant with Capitano Consulting providing consultation, advice, assistance, and training on Government contract financial and other regulatory compliance matters. Ki began his career in Government contracting in 1976, working as a contract auditor for the Defense Contract Audit Agency (DCAA). While with the DCAA, he performed a full range of contract audits of Government contractors and contract audit functions. He worked as an instructor at DCAA’s contract audit institute in Memphis, TN designing, developing, and delivering training courses to DCAA auditors and managers in both technical and managerial subjects, as well as supporting briefings to industry and other Government agencies, and worked at DCAA headquarters as program manager, responsible for a variety of audit initiatives. Ki also worked for KPMG Peat Marwick as a manager responsible for designing, developing, and delivering training courses and providing expert advice to clients regarding Government contract regulatory compliance issues in a wide variety of areas.
Bill Walter is a Partner with Dixon Hughes Goodman, LLP. He holds a BS degree in Accounting from Penn State University and has more than 25 years of experience in cost accounting and financial management systems. He has an extensive background in the application and interpretation of rules, regulations, and standards applicable to Government contractors, including the Federal Acquisition Regulation, individual agency supplements to the FAR, the Truth in Negotiations Act and the Cost Accounting Standards. He began his career as an auditor for the Defense Contract Audit Agency (DCAA), where he was responsible for implementing micro-computers and training his fellow auditors and administrative staff to use major application software packages. As a faculty member of the GWU Government Contracts Program, he has developed and taught courses on Cost Reimbursement Contracting, Accounting for Cost on Government Contracts, Defective Pricing –
Hazards and Defenses, Government Contract Audits, Contract Pricing, and Contract Performance Management Tools. A member of the Virginia Society of Certified Public Accountants, Walter also presents to groups on current issues in the Federal procurement arena.
Continuing Education Credits
1.5 CLE/ 0.15 CEU/ 1.5 CPE credit may be earned for this course. This course is recommended for 2.0 CLP credits.
This course has been approved for CLE in CA, PA, VA and TX. Because this activity has been approved in another CLE jurisdiction, you may also receive credit for participation in AK, AZ, AR, CO, FL, HI, IL, ME, MT, NJ, NY, ND, and WI (additional state requirements may apply). If you are seeking CLE credits for a jurisdiction other than the ones listed above, please contact us for additional information.
This course can be submitted to Project Management Institute (PMI) for PDU. Upon their approval, it may be worth 1.5 PDU credits.