Thompson Government Contracting

Incurred Cost Submissions: Overview and Common Pitfalls
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Webinar • Tuesday, July 31, 2018 • 1:00-2:30 p.m. ET

Webinar Details

Prerequisites: None

Recommended Field of Study: Specialized Knowledge and Applications

Program Knowledge Level: Basic

Advanced Preparation: None

Does your government contract include the Allowable Cost and Payment Clause? Are you interested in pursuing government contracts? Do you want to develop an indirect rate structure? If you are, then it’s critical to understand where the Incurred Cost Submission (ICS) stands in 2018.

You need to be certain that you will have the rate structures, cost allocation, and documentation that auditors will come looking for – and be ready for them to come looking! Thanks to the new National Defense Authorization Act (NDAA), the government can hire third-party auditors to clear the incurred-cost-audit backlog at the Defense Contract Audit Agency (DCAA).

Learn what you can do now to avoid the common pitfalls that will trap all-too-many government contractors in the months ahead.

Register now for Incurred Cost Submissions: Overview and Common Pitfalls.

Curtis Strasburg, CPA, draws on experience as a senior government contracting consultant and former auditor to help you keep ICS mistakes from jeopardizing your reputation and the profitability of your government contracts. In this 90-minute webinar, he will deliver ready-to-use guidance for avoiding mistakes with everything from ICS schedules to providing the right supporting documentation.

“Audit-proof” your incurred costs. Learn how to apply 2018’s best practices for managing indirect rates and allocating costs. Discover ways to avoid common--but costly--pitfalls in submitting a proposal that dramatically reduces your potential risk and exposure. Plus, you will have the chance to ask your own questions during the Q&A portion of the webinar.

Reserve your space now for expert guidance on submitting Incurred Cost Proposals, including:

  • Focusing on what an Incurred Cost Submission is and when it’s required
  • Learning how to establish rate structures and manage indirect rates
  • Mitigating risks with cost allowability and allocability
  • Working correctly with the ICS Schedules
  • Including the required supporting documentation
  • Understanding common mistakes to avoid in preparing your proposal

Remember, the green light on third-party auditors could signal an increase in the number of incurred cost audits very soon. Do not miss this opportunity to build the right costs, rates and documentation into every ICS.

Register now for Incurred Cost Submissions: Overview and Common Pitfalls.

This webinar is of value to government contractors required to submit an ICS or seeking to develop an indirect rate structure. Attendees who will benefit most include:

  • CFOs
  • Directors
  • Contract Administration
  • Accounting and Finance Staff
  • Compliance Officers
  • Consultants

Curtis Strasburg, CPA

Curtis Strasburg, Senior Consultant with Capital Edge Consulting, provides professional support to government contractors in the areas of compliance and accounting. Curtis’s expertise includes Generally Accepted Auditing Standards, Cost Accounting Standards (CAS), and Federal Acquisition Regulations (FAR). Additionally, he has experience providing technical government accounting and contracting advice to clients and IFRS accounting and reporting standards.

As a consultant, Curtis has experience with CAS, FAR, Generally Accepted Government Auditing Standards (GAGAS), OMB Uniform Guidance, Incurred Cost Submissions, developing and preparing indirect rate structures, and assisting on bid protest.

As an auditor, Curtis specialized in auditing government contractors and has audited balances relating to assets, liabilities, revenues and expenses, evaluating fair market value of investments, performed internal control assessments, assessing adequacy in changes of accounting systems, as well as, completing reviews and compilations for client’s year-end financial statements. Additionally, he has provided technical accounting and contracting advice to clients under GAAP and IFRS accounting and reporting standards.

Prior to joining Capital Edge, Curtis held positions at BDO USA, LLP., Ernst & Young and a regional accounting firm based in McLean, Virginia.

He is a member of the American Institute of Certified Public Accountants (AICPA) and The Greater Washington Society of CPAs. Additionally, he is a registered CPA with the Virginia Board of Accountancy and holds a Green Belt in Six Sigma Accounting and Management Standards,

He holds a Bachelor of Science in Accounting from Clemson University.

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