Understanding the Incurred Cost Submission Model and Mitigating Audit Issues Webinar

Overview

This FREE webinar will offer attendees an overview of the Incurred Cost Submission (ICS), provide specific information to avoid common issues, and highlight the importance of schedules. If you have the Allowable Cost and Payment Clause (FAR 52.216-7) within your contracts, you are required to complete an Incurred Cost Submission within six (6) months of your fiscal year-end. This session will help you understand your Incurred Cost Submission obligations and compliance requirements and mitigate potential audit issues.

Learning Objectives

At the completion of this one-hour webinar, participants will be able to:

• Understand why the Incurred Cost Submission is important
• Understand the important schedules
• Apply a few best practices for completion
• Understand the adequacy checklist
• Avoid potential audit issues

Program Content

During the webinar, our faculty will discuss the following topics:

• Initial Set-up the Incurred Cost Submission Model
• Final Indirect Rate Pools
• Intermediate Indirect Rate Pools
• Allocation Base Components
• General and Administrative Costs
• Overhead Costs
• Identify Direct Costs by Contract
• Over-Billing and Under-Billing

About Redstone GCI

RGCI enables contractors doing business with the U.S. government to comply with the complex and challenging procurement regulatory provisions and contract requirements by providing superior cost, pricing, accounting, and contracts administration consulting expertise to clients expeditiously, efficiently, and within customer expectations. Our consulting expertise and experience is unparalleled in understanding unique challenges of government contractors, our operating procedures are crafted and monitored to ensure rock-solid compliance, and our company’s charter and implementing policies are designed to continuously meet needs of clients while fostering a long-term partnership with each client through pro-active communication with our clients.