Bring any seminar or course directly to your staff through the Federal Publications’ In-House Presentations Program.
Who should attend:
CFOs, Directors, Managers in functional areas of Contract Administration, Accounting, Finance, Compliance and Consulting. Any organization who are required to submit their incurred costs to the Federal Government
What you will learn:
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.
Dates and Locations
July 18-19, 2016
The Westin Hilton Head Island
Hilton Head Island, SC
August 15-16, 2016
MicroTek - Washington DC
8:00 AM - 3:00 PM
Schedule for La Jolla, CA and Hilton Head, SC
9:00 AM - 4:00 PM
Schedule for All Other Locations
- Introduction and Overview: the Incurred Cost Submission (ICS)
a. Purpose of the ICS
b. When it is Required
c. ICS Schedule Overview
d. Understanding the Requirements of Different
e. Data Requirements for Different Functional Areas
- Understanding & Establishing an Indirect Rate Structure
a. Direct & Indirect Costs
b. Indirect Cost Pools & Allocation Bases
c. Causal / Beneficial Relationships
d. Examples / Indirect Cost Pools
e. Intermediate Cost Pools & Service Centers
- Material / Subcontractor Handling.
- Managing Indirect Rates
a. Budgeting / Estimating for Growth
b. Rate Monitoring and Management
c. Modifying Provisional Rates
d. Common Pitfalls to Avoid
e. Changing your Rate Structure
- Cost Allowability and Allocability
a. Understanding Unallowable Costs
b. FAR Part 31
c. Overview of Allocability
d. Reasonable Tests
e. Consistent Treatment of Costs
- ICS Schedule Analysis
a. Schedules H, K & I – the Critical Schedules
b. Schedules B, C & D – Final & Intermediate
- Actual Incurred Costs by Contract
- Hours Incurred by Labor Category for T&M Contracts
- Billed Costs vs. Incurred Costs
c. Schedule E – Establishing the Allocation Bases
d. Schedule F – Facilities Capital Cost of Money
e. Schedule J – Finalizing Subcontractor Cost Data
f. Schedule L – Validating Labor
g. Schedule O – Contract Closeouts
h. Schedule T – Executive Compensation
i. Additional / Supplemental Schedules
- The ICS Case Study
a. Reviewing Incurred Costs by Contract
b. Data from your Accounting System
c. Additional Job Cost Records
d. Establishing Cost Pools and Bases
e. Excluding Unallowable Costs
f. Setting Up Schedules H&K
g. Schedule I
h. Review of Additional Data Points to Support all
- Preparing & Submitting the ICS
a. Step by Step Guide
b. Schedule Analysis
- Preparing & Submitting the ICE
a. Electronic Version
b. User-Friendly Submission Package
c. An Adequate Submission
- Relevant Historical Data
a. When No Data Exists
b. Contracting Officer Authority
c. Penalties for Mischarging
- ICS Audits
a. Audit Evaluation
b. Contract Costs
c. Direct Costs
d. Indirect Costs
e. Overhead Costs
f. G&A Expenses
g. Facilities Capital Cost of Money
Chad Braley is the CEO and Managing Director of Capital Edge Consulting, Inc. in Reston, VA.
His areas of expertise include cost accounting and indirect rates, proposal development, contracts management and administration, DCAA audit and non-compliance expertise, ERP implementation support, training, Federal Acquisition Regulations (FAR) and Cost Accounting Standards (CAS) compliance support.
Mr. Braley's experience also includes providing full contract lifecycle support, from acquisition phase identification and proposal development, to contract closeout assistance. While in industry, Chad managed a wide array of contract types, including cost plus fixed fee (CPFF), cost plus award fee (CPAF), firm fixed price (FFP), and time and material (T&M), both at a prime and subcontract level. In addition to managing these contracts, he was responsible for developing proposals, negotiating contracts, and overseeing the invoicing of all contracts.
Mr. Braley teaches numerous training courses for Federal Publication Seminars, including A Practical Guide to the Incurred Cost Submission and A Manager's Guide to EVMS. Mr. Braley has lectured at NCMA's World Congress and performs compliance webinars for multiple software companies.
Mr. Braley graduated from the Williams School of Commerce at Washington and Lee University with a Bachelor of Science in Commerce, with a Business Administration major
MEET YOUR CONTINUING EDUCATION CREDIT REQUIREMENTS
SEE INDIVIDUAL COURSES FOR AVAILABLE CREDITS
Certificates of Completion are provided to all seminar participants who attend Federal Publications Seminars courses following the event, upon request.
NCMA: CONTRACT MANAGER CERTIFICATION
All Federal Publications Seminars courses meet the course requirements of the National Contract Management Association’s certification programs. We are a proud Education Partner of the NCMA.
CPE: CONTINUING PROFESSIONAL EDUCATION
Federal Publications Seminars is part of West Professional Development, which is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org
This Program is eligible for: 13.0 (CPE) hours of credit
Program Level: Basic
Program Prerequisite: None
Advance Preparation: None
CLP: CONTINUOUS LEARNING POINTS
APPROVED FOR CLP BY
DEFENSE ACQUISITION UNIVERSITY
Defense Acquisition Workforce members must acquire 80 Continuous Learning Points (CLP) every two years from the date of entry into the acquisition workforce for as long as the member remains in an acquisition position per DoD Instruction 5000.66. We will provide you with documentation of points awarded for completing the event.
This Program is eligible for: 11.0 (CLP) hours of credit
CLE: CONTINUING LEGAL EDUCATION
States have widely varying regulations regarding MCLE credit. LegalEdcenter is an approved provider in AL, AK, AR, CA, GA, IL, ME, MO, MS, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, PA, RI, SC, TN, TX, UT, VA, VI, VT, WA, WI, and WV. Credit may be applied for in other jurisdictions on request and in accordance with state MCLE rules.
** Please note that because some states are changing their policy on CLE reporting, you will need to fill out the request for credit from Federal Publications Seminars within 10 business days, or we may not be able to issue credits for the program.
This Program is eligible for:
11.0 (60 minutes), 13.0 (50 minutes)
MicroTek - Washington DC
1110 Vermont Ave NW
Washington, DC 20005
There is not a room block for this location. Nearby hotels include:
Residence Inn Washington, DC Downtown
1199 Vermont Avenue NW
Washington, DC 20005
Food & Beverages Served:
A light breakfast will be served; also morning and afternoon snack. Assorted beverages will also be served.
The Westin Hilton Head Island
2 Grasslawn Avenue
Hilton Head Island, SC 29928
RESERVATIONS AT GROUP RATE
The FPS room block at the Westin is sold out for the 2016 Hilton Head Government Contracts Conference. There are still rooms available at the Westin’s published rate. You will need to reserve your room directly through the hotel at http://www.westinhiltonheadisland.com/ or by calling 866-716-8108.
Here is a list of suggested hotels that you may want to consider:
The Hampton Inn – Closest to the Westin Resort but limited service and not on the beach
1.5 miles from the westin
1 Dillon Road
The Main Street Inn – Very cute bed and breakfast type, again not on the beach
3 miles from the Westin
2200 Main Street
The Marriott Beach and Golf Resort – Most like the Westin, resort on the beach
4 miles from the Westin
1 Hotel Circle, Palmetto Dunes Plantation
The Omni Hilton Ocean Front Resort – resort on the beach
4.5 miles from the Westin
23 Ocean Lane, Palmetto Dunes Plantation
1 Plaza Dr,
Hilton Head Island, SC 29926
Hilton Garden Inn Hilton Head
1575 Fording Island SC, 29926
The Crowne Plaza Resort – resort on the beach
6 miles from the Westin
130 Shipyard Drive, Shipyard Plantation
RESERVATIONS AT GOVERNMENT PER DIEM
The government room block rate is sold out.
Register Now for:
|July 18-19, 2016
||Hilton Head Island, SC
|August 15-16, 2016
Call (888) 494-3696