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Government Accounting: Fundamentals of Indirect Rates

GOVERNMENT ACCOUNTING: FUNDAMENTALS OF INDIRECT RATES

Cost Free
Presentation Length 1.5 hours

Recorded DateMarch 4, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Course LevelBeginner
Course Description

Higher margins and improved profitability are a direct result of the proper calculation of indirect rates and the maximum recovery of all costs incurred. Classification of costs, the identification of correct and allowable allocation methods and accurate mathematical formulas are critical in the proper calculation of indirect rates. This session will focus on the most common cost pools utilized by government contractors and a single rate approach to indirect rates. We’ll describe the composition of each cost pool, explain the acceptable allocation bases, and walk you through a few calculation examples. Every participant receives access to an online indirect rate calculator and downloadable tool.

Learning objectives:


  • List the 5 basic cost pools

  • Describe the composition of each cost pool

  • Identify acceptable allocation bases and methods

  • Execute proper calculation of indirect rates

  • List tips for full cost recovery

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Robert Jones, CPA, CPCM, NCMA Fellow

Left Brain Professionals
Government Contract & Accounting Expert
robert@leftbrainpro.com
(614) 556-4415

Lbp

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 West Virginia native earned a bachelor’s degree in accounting from the McColl School of Business at Queens University of Charlotte in North Carolina. He holds a master’s degree in accountancy from The Graduate School of the College of Charleston in South Carolina. He is a licensed CPA in the State of Ohio.

About Our Presenter

Lbp
Left Brain Professionals is a boutique accounting firm serving the compliance needs of government contractors. We focus on accounting system design, implementation, and audit support. We help companies profit from federal contracts, prevent compliance headaches and resolve red-tape nightmares - assuring profitability and peace of mind. We offer expert consulting on strategic, long-term and day-to-day decisions regarding all aspects of government contracts compliance, accounting, cybersecurity and audits. We don't believe in cookie-cutter, one-size-fits-all solutions. We understand the needs of small businesses and work within your budget to devise cost-effective solutions.

Led by a CPA with over 15 years of federal audit experience. Left Brain Professionals has the expertise to guide you through the complex maze of federal regulations. Some of our support projects include indirect rate calculations, cost and pricing models, incurred cost proposals, and purchasing spend analysis. We focus on serving small businesses though we do have a few Fortune 500 clients and bring other large business expertise and best practices to all of our clients.