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Overview

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.

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.

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

Learning Objectives:
Upon completion of the program you should be able to:

  • Prepare an Incurred Cost statement
  • Understand and apply the rules around allowability
  • Understand and apply the rules with allocability
  • Correctly identify data points to complete an ICS
  • Effectively use the Incurred Cost Electronic model correctly
Dates/Locations
November 17-18, 2021
The Westin San Diego
San Diego, CA, United States
Travel Info
Standard: $1,275.00
Enhanced: $1,670.00
Register
February 16-17, 2022
American Management Association
Arlington, VA, United States
Travel Info
Standard: $1,325.00
Enhanced: $1,720.00
Register
May 2-3, 2022
Hyatt Regency La Jolla at Aventine
La Jolla, CA
Travel Info
Standard: $1,475.00
Enhanced: $1,870.00
Register
September 12-13, 2022
The Flamingo Hotel
Las Vegas, NV
Travel Info
Standard: $1,475.00
Enhanced: $1,870.00
Register
Agenda
8:00 AM - 3:00 PM
La Jolla, Hilton Head and Las Vegas-September Weeklong Conference Locations
8:00 AM - 3:00 PM
TBA, FL
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
Experts
  • Chad Braley
    CEO and Founder, Capital Edge Consulting
    Chad Braley is the Chief Executive Officer and Founder of Capital Edge Consulting, Inc. Since its inception, Capital Edge has grown into the country’s leading firm, focusing solely on serving both foreign and domestic contractors who do business with the US Government.

    Chad’s ar...
  • Eric Hayman
    Senior Manager, Capital Edge Consulting
    Eric Hayman has over 10 years of experience providing professional support to government contractors and government agencies in the areas of compliance, accounting and training. He specializes in the Federal Acquisitions Regulations, Cost Accounting Standards, Government Audits and Contract’s...
  • Anthony Kim
    Partner, Capital Edge Consulting
    Anthony Kim has more than 20 years of experience in various cost accounting and compliance issues related to government contracts. Specifically, he is knowledgeable in the areas of government contract procurement regulations, Cost Accounting Standards, OMB Uniform Guidance, Generally Accepted Govern...
  • Michelle Massarini
    VP of Finance
    Michelle Massarini is the VP of Finance for Capital Edge Consulting, Inc. Her focus is on providing full contract lifecycle professional support to government contractors and government agencies in the areas of compliance, accounting, contracts, and training. Michelle’s areas of expertise incl...
Accreditation
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.
CPE: Continuing Professional Education
Field of Study: Specialized Knowledge
Delivery Method: Group-Live Classroom
Federal Publications Seminars is affiliated with West Professional Development and 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 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.nasbaregistry.org.
For more information regarding administrative policies such as refunds, cancellations and complaints, please contact Federal Publications Seminars at 888.494.3696.
CPE Hours
This program is eligible for: 13.0 (CPE) hours of credit
Program Level: Basic
Program Prerequisite: None
Advance Preparation: None
Method: Group-Live
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.
CLP Hours
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.
CLE Hours
This program is eligible for: 11.0 (60 minutes), 13.0 (50 minutes)
Travel
American Management Association
2345 Crystal Drive, Suite 200
Arlington, VA, 22202
5714812208
Hotel & Room Block Info

Federal Publications Seminars doesn’t have a room block for this location.  However, ECTC offers special hotel rates at two nearby hotels: Hyatt Regency Crystal City; and Renaissance Arlington Capital View Hotel.

Hyatt Regency Crystal City

Click here to reserve using the AMA preferred rate. For AMA’s preferred rate enter corporate code 00433. 

Reagan National Airport
2799 Jefferson Davis Highway
Arlington, VA 22202
AMA Reservation Number 1-703-418-1234

Renaissance Arlington Capital View Hotel

Click here to reserve using the AMA preferred rate.

2800 South Potomac Avenue
Arlington, VA 22202
AMA Reservation Number 1-703-413-1300

General Information

METRO RAIL LINE:

Yellow & Blue Line – METRO Stop – Crystal City
From the METRO - AMA is 2 blocks east and 4 blocks south on Crystal Drive

http://www.amaconferencecenter.org/washington-directions-maps.htm

FOOD AND BEVERAGE
Coffee (regular & decaf), tea and water will be served throughout the day with an afternoon snack (baked goods) break.  Breakfast and lunch are on your own.

Hyatt Regency La Jolla at Aventine
3777 La Jolla Village Drive
La Jolla, CA, 92122
8585521234
Hotel & Room Block Info

There is a room block for this location. Rate is $239/night plus taxes. To make your reservations, click here.

If the group rate is no longer available, prevailing rates may be offered for some or all of your dates. Reservations must be made by April 1, 2022 and rooms are subject to availability.

General Information

FOOD AND BEVERAGE
Continental breakfast, buffet lunch, and an afternoon snack will be served.

The Flamingo Hotel
3555 Las Vegas Blvd S
Las Vegas, NV, 89109
7027333111
Hotel & Room Block Info

There is a room block for this location for 2022 Las Vegas Government Contracts Week attendees. The rate is $94.00 + daily resort fee of $35.00 per room, per night. To make reservations, call 888-373-9855. Reservations must be made by August 9, 2022 and are subject to availability.

General Information

FOOD AND BEVERAGE
Continental breakfast and lunch will be served each day.

The Westin San Diego
400 West Broadway
San Diego, CA, 92101
6192394500
Hotel & Room Block Info
There is a room block for this location.  Click here to make a reservation for the group rate of $209 +tax/person.   

You must make your reservation by Friday, October 22, 2021 to get this rate.
General Information
Providing a safer environment for our guests and associates is a top priority. Consistent with the most recent CDC guidance, fully vaccinated guests are no longer required to wear face coverings or social distance in indoor or outdoor areas of the hotel, unless required by local law. We ask that unvaccinated guests continue to wear face coverings and practice social distancing when they are in public spaces inside the hotel.

Every guest room is thoroughly cleaned and disinfected prior to your arrival. During your stay, we will not provide housekeeping automatically every day. If you wish to receive daily housekeeping refresh service, please let our guest services team know. We will be happy to schedule service according to your preferences.
In-House
Bring Federal Publications Seminars to your location! If you would like to offer this course in-house, please contact us.
Schedule Training
Fill out this form and someone from FPS will contact you shortly. You can fill out as much or as little information as you would like. Prefer to talk to us? Call 888.865.9082.
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Level
  • 100
    Basic or fundamental subject matter is covered. Courses are geared to general knowledge or can be taken as a refresher.
  • 200
    Specific topics or issues within a topic area are covered. Students should be familiar with terms of art and general concepts concerning the course topic.
  • 300
    Workshops and class discussions cover specific subject matter in-depth, and participation is strongly encouraged. Attendees should have at least 2-3 years' experience in the area of study.
  • 400
    Courses build upon students' knowledge and experience, and cover complex issues within the subject matter. Should have 4-5 years' mastery of subject for in-depth analysis.
  • 500
    Masters-level programs designed for professionals with 5+ years' experience. Courses cover in-depth and technical analysis on specific subjects and updates on current issues.