The Magic Circle....and More

A Practical Concept for Understanding Government Contract Cost Accounting Applied in the Contract Management Process

by Charles L. Wilkins

The Magic Circle....and More
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The Magic Circle....and More

A Practical Concept for Understanding Government Contract Cost Accounting Applied in the Contract Management Process

by Charles L. Wilkins

Published Sep 25, 2015
461 Pages
Genre: BUSINESS & ECONOMICS / Accounting / Governmental



 

Book Details

The Magic Circle© (August 2007) presents the accounting structure of a typical government contracting business organization and certain parameters for using such structure. This book will expand that presentation and discuss the methodology behind putting the magic in the circle to provide the reader with practical applications that might be encountered in real-world business situations and opportunities. The purpose of this book is not only to provide the reader with a clear, easy to understand, practical approach to comprehending the cost elements relative to the production of goods and supplies and the performance of services and their relationships in a typical government contract organization, but also to discuss the key drivers that cause the cost elements to exist, and to demonstrate how to convert these cost elements into practical pricing applications to value goods, supplies, and services. Once these elements and relationships are clearly understood, the reader will quickly understand the magic of the magic circle and will be ready to apply this knowledge in many areas of managing the business, including proposal decision making, budgeting, pricing, and more. To aid in the understanding of this overall process, a model will be given of two typical government contract organizations’ cost accounting systems: a manufacturer of products and a services provider. The individual models will present the elements of the magic circle for each of these two types of business.

 

About the Author

Charles L. Wilkins

Charles L. Wilkins is an independent litigation support consultant, and former Executive Director Government Contract Compliance at KPMG LLP. Before his compliance role at KPMG LLP he was a Forensic Services partner at KPMG, a partner at Peterson Consulting Limited Partnership and a Principal at Ernst and Young LLP and he held a senior consulting role at Ernst & Whinney in their government contractor services practice. Prior to his consulting career Mr. Wilkins held positions within the aerospace and defense industry as international corporate auditor, controller and chief financial officer. Mr. Wilkins has more than 45 years of experience involving public contracts from his aerospace and defense industry and litigation support services careers. He has been engaged to provide consultation and his professional opinion in criminal and commercial litigation matters and in arbitration and mediation matters as well. During his professional consulting career, Mr. Wilkins has assisted most of the larger defense contractors in the United States, and other large and small commercial and government contract clients in a wide array of services including litigation and dispute resolution, industry advisory and expression of his professional opinions, and on compliance and profit maximization matters. Mr. Wilkins holds a B.A. from California State University, completed the LaSalle University Extension program in accounting, and the Executive Program in Management from the University of California. He is a Certified Public Accountant in California, and prior to his retirement from KPMG LLP was a licensed CPA in Virginia and the District of Columbia. He is a member of the AICPA, National Contract Management Association, California Society of CPAs, and an associate member of the American Bar Association, active in the ABA Public Contract Law section, and a former member of the Business Law, and General Practice sections of the ABA.

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