Overview

This FREE webinar will offer attendees an overview of the Incurred Cost Submission (ICS) and provide specific information to avoid common issues as well as the importance of specific schedules. If you have the Allowable Cost and Payment Clause (FAR 52.216-7) within your contracts, you are required to complete an ICS within 6 months of your fiscal year-end. This presentation by Mrs. Basden will assist you in understanding your ICS obligations, compliance requirements, and mitigate potential audit issues. Let’s get a jump on your submission early!

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
  • Learn a few best practices for completion
  • Understand the adequacy checklist
  • Avoid potential audit issues

Program Content

During the webinar, your faculty will discuss:

  • Initial Set-up the ICS Model
  • Final Indirect Rate Pools
  • Intermediate Indirect Rate Pools
  • Allocation Base Components
  • General and Administrative Costs
  • Overhead Costs
  • Identify Direct Costs by Contract
  • Over/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.

For more information, contact:

Lori Beth Moses, 
lmoses@RedstoneGCI.com
256-704-9811

Redstone Government Consulting, Inc.
501 Madison Street SE, Suite 100
Huntsville, AL  35801
Website: www.redstonegci.com