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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.

Materials include:

    • Course Manual

    • Federal Acquisition Regulation Desk Reference

    • Case Studies

Dates and Locations

This course will be scheduled soon. Please enter your information below to receive a notification when the class is scheduled.

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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

Workshop Curriculum

  1. 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
    Contract Types
    e. Data Requirements for Different Functional Areas
  2. 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
    • Fringe
    • Overhead
    • G&A
    • Material / Subcontractor Handling.
    e. Intermediate Cost Pools & Service Centers
  3. 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
  4. Cost Allowability and Allocability
    a. Understanding Unallowable Costs
    b. FAR Part 31
    c. Overview of Allocability
    d. Reasonable Tests
    e. Consistent Treatment of Costs
  5. ICS Schedule Analysis
    a. Schedules H, K & I – the Critical Schedules
    • Actual Incurred Costs by Contract
    • Hours Incurred by Labor Category for T&M Contracts
    • Billed Costs vs. Incurred Costs
    b. Schedules B, C & D – Final & Intermediate
    Cost Pools
    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
  6. 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
    Remaining Schedules
  7. Preparing & Submitting the ICS
    a. Step by Step Guide
    b. Schedule Analysis
  8. Preparing & Submitting the ICE
    a. Electronic Version
    b. User-Friendly Submission Package
    c. An Adequate Submission
  9. Relevant Historical Data
    a. When No Data Exists
    b. Contracting Officer Authority
    c. Penalties for Mischarging
  10. 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

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

Certificates of Completion are provided to all seminar participants who attend Federal Publications Seminars courses following the event, upon request.
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.
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:
This Program is eligible for: 13.0 (CPE) hours of credit
Program Level: Basic
Program Prerequisite: None
Advance Preparation: None
Method: Group-Live
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
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)
Register Now for:
A Practical Guide to the Incurred Cost Submission (ICS)
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