Calendar

May
22
Wed
FREE WEBINAR: Risk Mitigation Strategies for DCAA Audits of Gov’t Contractor Business Systems
May 22 @ 12:00 pm – 1:15 pm

Did you know the DCAA announced a strategy to significantly increase audits of Government contractor business systems? Contractors can take steps to prepare for the potential of business system audits with some due diligence.

Our compliance experts have outlined key strategies for critical risk mitigation measures to help enhance the likelihood that the government determining contractors’ business systems are adequate. These strategies can support organizational goals to reduce contractors’ related compliance risks and be prepared in case an audit happens.

Join our experts as they provide a state of audits, a future outlook and key strategies that will help assure compliance.

This webinar is sponsored by JAMIS Software Corporation.

Jun
6
Thu
FPS – Commercial Items – Procurement U Webinar
Jun 6 @ 2:00 pm – 3:30 pm
Jul
11
Thu
FPS – Overview of Cost Accounting Standards – Procurement U Webinar
Jul 11 @ 2:00 pm – 3:30 pm
Jul
24
Wed
FPS- A Practical Guide to the Incurred Cost Submission (ICS) – SC @ Executive Conference and Training Center
Jul 24 – Jul 25 all-day

Government contractors subject to an Allowable Cost and Payment contract clause must submit an adequate incurred cost proposal together with supporting data for each fiscal year within six months after the end of those fiscal years. To establish final indirect rates and direct contract costs consistent with these important procurement provisions, contractors must understand all components of an adequate incurred cost proposal and the costs that must be included within these submissions.

This course focuses on what contractors must know about the Incurred Cost Submission, ICS, including analysis of ICS Model Schedules, Contract Costs, and Rate Structures.

Our expert instructors will walk you through a step-by-step guide to the preparation and filing of the Incurred Cost Submission (ICS) for Government contractors.

This workshop is designed to show contractors how to identify and capture all allowable costs that may be claimed for reimbursement in the prescribed format consistent with FAR Part 42 requirements, and mitigate the risk of audit problems and issues.

The instructors will provide a detailed, step by step guide to the preparation and development of the Incurred Cost Submission ICS. It begins with an explanation of accounting requirements such as the rules for allowability and allocability required to facilitate the successful completion of an ICS. The workshop also analyzes the different types of indirect rate structures used by contractors and delineates how companies should develop and present indirect rate structures and claimed costs as a part of these submissions.

Through the use of a case study and exercise, workshop attendees will prepare and develop a company ICS. Students will learn critical data points, supporting documentation, and how to reduce audit risks when these submissions are reviewed. In addition, the workshop will cover the Incurred Cost Electronic model ICE, the electronic version of the model incurred cost proposal, and learn how it should be filed.

Whether you have been doing business with the Federal Government for many years or have just won your first contract award, you will be provided with the skills and tools that will help to ensure that your submission is accurate, adequate, and complete.

Jul
29
Mon
PCI – Hands-On Workshop: Preparing the ICS – Washington, D.C.
Jul 29 – Jul 30 all-day

Summary

Doing business with the US Government is always challenging and the many onerous accounting requirements only make it more difficult. The purpose of this class is to help add clarity to Incurred Cost Submission requirement, which is an annual requirement for any contractor with flexibly priced contracts. This course will provide government contractors with a step by step guide in developing their Incurred Cost Submission to ensure that all allowable costs are properly captured and claimed for reimbursement, while also minimizing audit risk. Before contractors can fully understand the mechanics of the submission they have to understand the detailed government contract accounting requirements governing allowability, allocability, and reasonableness. The course will provide attendees with a detailed review of the both the required and optional schedules of the submission. Additionally, through the use of a case study, attendees will walk through a sample submission and gain a thorough understanding of the critical data points, supporting documentation, and how to reduce DCAA audit risk. This course will provide attendees with the expertise needed to successfully complete the submission and prepare for the audit. In addition, we will provide the attendees with real life examples of existing incurred cost challenges, DCAA audit positions, and a detailed overview of the current DCAA audit environment and the challenges they present to contractors. Whether you are completing your incurred cost submission for the first time or learning that what you’ve been doing for the last 20 years is now in question, this course can provide you the answers.

Learning Objectives

  • Applying & Establishing an Indirect Rate Structure
  • Managing Indirect Rates
  • Identifying Unallowable Costs & FAR Part 31
  • Ensuring Consistent Treatment of Costs
  • Determine when the Incurred Cost Submission is required and its purpose
  • ICS schedule analysis and differentiation
  • Apply the Incurred Cost Submission
Aug
1
Thu
FPS – Cost Accounting Standards Administration and Disclosure Statements – Procurement U Webinar
Aug 1 @ 2:00 pm – 3:30 pm
Sep
5
Thu
FPS – Indirect Costs – Procurement U Webinar
Sep 5 @ 2:00 pm – 3:30 pm
Sep
16
Mon
PCI – Preparing the Incurred Cost Submission – Washington, DC
Sep 16 – Sep 17 all-day

Doing business with the US Government is always challenging and the many onerous accounting requirements only make it more difficult. The purpose of this class is to help add clarity to Incurred Cost Submission requirement, which is an annual requirement for any contractor with flexibly priced contracts. This course will provide government contractors with a step by step guide in developing their Incurred Cost Submission to ensure that all allowable costs are properly captured and claimed for reimbursement, while also minimizing audit risk. Before contractors can fully understand the mechanics of the submission they have to understand the detailed government contract accounting requirements governing allowability, allocability, and reasonableness. The course will provide attendees with a detailed review of the both the required and optional schedules of the submission. Additionally, through the use of a case study, attendees will walk through a sample submission and gain a thorough understanding of the critical data points, supporting documentation, and how to reduce DCAA audit risk. This course will provide attendees with the expertise needed to successfully complete the submission and prepare for the audit. In addition, we will provide the attendees with real life examples of existing incurred cost challenges, DCAA audit positions, and a detailed overview of the current DCAA audit environment and the challenges they present to contractors. Whether you are completing your incurred cost submission for the first time or learning that what you’ve been doing for the last 20 years is now in question, this course can provide you the answers

FPS- A Practical Guide to the Incurred Cost Submission (ICS) – NV @ Executive Conference and Training Center
Sep 16 – Sep 17 all-day

Government contractors subject to an Allowable Cost and Payment contract clause must submit an adequate incurred cost proposal together with supporting data for each fiscal year within six months after the end of those fiscal years. To establish final indirect rates and direct contract costs consistent with these important procurement provisions, contractors must understand all components of an adequate incurred cost proposal and the costs that must be included within these submissions.

This course focuses on what contractors must know about the Incurred Cost Submission, ICS, including analysis of ICS Model Schedules, Contract Costs, and Rate Structures.

Our expert instructors will walk you through a step-by-step guide to the preparation and filing of the Incurred Cost Submission (ICS) for Government contractors.

This workshop is designed to show contractors how to identify and capture all allowable costs that may be claimed for reimbursement in the prescribed format consistent with FAR Part 42 requirements, and mitigate the risk of audit problems and issues.

The instructors will provide a detailed, step by step guide to the preparation and development of the Incurred Cost Submission ICS. It begins with an explanation of accounting requirements such as the rules for allowability and allocability required to facilitate the successful completion of an ICS. The workshop also analyzes the different types of indirect rate structures used by contractors and delineates how companies should develop and present indirect rate structures and claimed costs as a part of these submissions.

Through the use of a case study and exercise, workshop attendees will prepare and develop a company ICS. Students will learn critical data points, supporting documentation, and how to reduce audit risks when these submissions are reviewed. In addition, the workshop will cover the Incurred Cost Electronic model ICE, the electronic version of the model incurred cost proposal, and learn how it should be filed.

Whether you have been doing business with the Federal Government for many years or have just won your first contract award, you will be provided with the skills and tools that will help to ensure that your submission is accurate, adequate, and complete.

Oct
3
Thu
FPS – Accounting System Requirements – Procurement U Webinar
Oct 3 @ 2:00 pm – 3:30 pm