Government contractors subject to the Allowable Cost and Payment contract clause (FAR 52.216-7) must submit an adequate incurred cost proposal (ICP) within six months after the end of the fiscal year. A completed ICP provides the contractor with their claimed rates which, when approved, become final indirect rates for the period in question. In order to provide an adequate submission to the government, contractors must be knowledgeable of all the components of the incurred cost proposal and have an understanding of the proper treatment of costs to accurately calculate indirect rates. During our two-part webinar we will provide step-by-step guidance of each schedule and the required and recommended supporting documentation. We'll make sure you know how to properly present adjustments to general ledger amounts and how to document your working papers in preparation for an audit.
Part I focused on general and job cost ledger related schedules. Part II of this two-part series will be focusing on other schedules, special issues and templates.
- Recognize the goal of completing the general ledger schedules.
- Identify the supporting documents necessary to complete the ICP.
- Recognize the purpose of the job-related schedules.
- Discover five Excel tips and functions to aid in success.
- Basic understanding of governmental contract accounting.
Who Should Attend
Accounting and financial professionals (and their CPAs) who work or bid on government contracts.
Basic understanding of Government Contracts and the Incurred Cost Proposal
- Government Contracts and & Accounting Expert
- Left Brain Professionals
Award-winning speaker Robert E. Jones shows audiences how to navigate the constantly changing legal and regulatory landscape of government contracts. In his engaging and highly rated presentations, he shares insider secrets drawn from 15 years of DoD contract and accounting experience. His proactive, decisive approach to finding opportunities and solving problems is based on experience in managing more than $400 million in federal contracts.
Mr. Jones has experience with a wide variety of speaking engagements including emcee/moderator, seminars, training, chapter meetings, and conference presentations. He engages audiences with innovative approaches to contract profitability, accounting, compliance and related topics.
The Wes... Read more
Encoursa 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: NASBAregistry.org.
Date & Time
Tuesday, April 20, 2021
1:00 PM EDT (see additional timezones)
Webinars: CPE certificates will be accessible through your dashboard 1 hour after a webinar concludes.
Self-Study: CPE certificates will be accessible through your dashboard immediately after passing the qualified assessment.
For specific instructions on accessing your CPE, please see our FAQ section on our support page.
- Multiple Attendees on Webinars: Each attendee should register separately for the webinar. If more than 1 attendee participated from the same device, please contact us after the event to let us know. For group signups for paid events, please contact us.