Incurred Cost Submissions - Virtual Training (Live Webinar) - May 18, 2021

The McKelvey Group is holding a Virtual Training Course (Live Webinar) on INCURRED COST SUBMISSIONS on May 18, 2021. This is a one-hour live webinar and advanced registration is required. We hope you will join us!

Course Description

An Incurred Cost Submission is REQUIRED for ALL Federal Government Contractors with at least one of the following:

Cost Plus (CP) Contract/Task,
Time and Material (T&M) Contract/Task, or
Flexibly Priced (FP) Contract/Task (This is a Fixed Price Contract/Task with reimbursable CLINs)

It does not matter if your company is a prime contractor or a subcontractor. It does not matter how small the Contracts/Tasks are. This is an annual requirement. It should be part of your annual Accounting Close process.

Most contractors find out about Incurred Cost Submissions when their Cognizant Auditor (CA) contacts them asking for status. The CA may ask for information about submissions from five or more years ago. Thus begins a scramble for the contractor to go back in history and handle multiple submissions in a short time frame. Scrambling to complete submissions in a short time frame is a recipe for failure.

Who Should Attend

This is a Mid-Level course designed for accounting and contracts personnel who will prepare and submit the Incurred Cost Submission, as well as small business owners and managers who are trying to decide if, and when they should submit. Attendees should have a moderate level of experience with Excel.

Learning Objectives

Attendees will better understand the What, Who, Why, and When of Incurred Cost Submissions, learning the answers to the following questions:

What exactly is an Incurred Cost Submission?
Why are they required?
When must a Federal Contractor submit one?
What is required for a complete submission?

Most importantly, attendees will get a walk-through of each component of the submission including a list of required information, explanation of what the auditors are looking for, and an appreciation for how to ensure a fully-compliant submission.

Course Agenda

Introduction
Incurred Cost Submission Background
ICE Model Setup
ICE Model Walk-through
Supporting Documentation
Questions & Open Discussion

CPE Credits

Participants may earn 1 CPE credit in the following Field of Study(s): Accounting (Govnt.), subject to NASBA approval.

The McKelvey Group 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 course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

Your Instructor, Matt McKelvey

Financial & Accounting Management, Government Contracting, and Business Valuation Subject Matter Expert

Matt McKelvey has over twenty-five years’ experience in Finance/Accounting, Government Contracting, Business Valuations, Process Optimization, and Training. Matt is President and CEO of The McKelvey Group, and is widely respected as a subject matter expert in both commercial and Federal marketplaces. He brings his extensive experience working with large, medium, and small companies to help his clients achieve the growth objectives of their owners.

As a consultant and CFO, he is well known for his expertise in working with organizations as they seek to create or improve their relationships with the Federal Government through price and proposal strategies, compliance, accounting, and training. In addition to direct client consulting in these areas, Matt demonstrates his comprehensive expertise through various speaking engagements and the Government contracting courses he instructs, including Cost/Price Proposal Workshops, DCAA Audit Preparation, Earned Value Management Systems, and Incurred Cost Submissions. Matt teaches his courses through several venues including training companies, conferences, and for individual clients. The McKelvey Group is a National Association of State Boards of Accountancy (NASBA) recognized Continuing Professional Education (CPE) program sponsor providing CPE credits in accordance with nationally recognized standards.

In finance and accounting, Matt supports his clients with strategic planning, alignment of their systems and processes with the plan, and/or a business valuation to assess the value of the company when it achieves that plan. This allows for ongoing financial forecasting, actual to budget reviews, and improved management reporting. These updated systems assist organizations in improving profitability and cash flow while minimizing cost and performance risk.

Matt holds an MBA in Finance and Marketing and a BS in Finance. He is a Six Sigma Certified Black Belt, a member of the National Contract Management Association (NCMA), and is an Accredited Senior Appraiser with the American Society of Appraisers (ASA).

Administrative Policies

Cancellations & Refunds

Any cancellations within 30 days of the scheduled class are non-refundable but you have the option of rescheduling. If you reschedule to attend another course, we will apply your prior payment toward your new registration fee. No refunds will be made for the cancellation of a rescheduled course. Personnel substitutions may be made at any time. Payment must be received prior to the course date. No-shows are liable for the full course fee.

Program Cancellation

In the event The McKelvey Group must cancel a course, we offer a full refund or full credit toward a future training date. Registered course participants will be contacted via email using the email address originally submitted by the registrant.

Complaint Resolution

For more information regarding administrative policies such as complaints, please contact Jacylyn Syfu at 800-246-3154 x822.