How to develop Indirect Rates 101
For Government Contractors, how indirect cost are accumulated and allocated to contracts can make all the difference between winning and losing future business. Worse, it can make all the difference between making a profit or losing money on awarded contracts. In this session, we will take a detailed look at how indirect rates are established, what they are used for and by whom. We will also review how the indirect rate structure can be established to maximize company profits and its competitive advantage. Government Contracting Accounting is a specialized type of accounting required for all organizations that conduct business with the federal government. Indirect cost rates are necessary for contract pricing and payment purposes on government contracts. An indirect cost rate is a way of determining how to fairly proportion indirect cost to a contract or activity of an organization. In this session, you will gain a practical understanding of Government Contract Accounting as it relates to: • The nature of direct versus indirect cost • What costs can be included in indirect rates • An example of a three-tiered indirect rate structure • How to prove your indirect rate calculation
Speaker(s): Karen Louis, managing member of WJ Technologies L.L.C.
Karen Louis has over 25 years of experience in accounting and project management. She has successfully managed professional services engagements and client relationships for numerous Government contractors and Commercial firms. Her leadership ensures projects are delivered on time and on budget. She has been responsible for numerous system conversions including the business process enhancements and critical change management functions that are integral to those projects. Karen also provides an extensive range of advisory services for Government contractors including FAR/CAS compliance, indirect cost rate structures, cost reporting, preparation and review of incurred cost submissions, as well as acting as an interface with DCAA auditors. For further assistance, contact the office at 540-654-1383
Fee: $ 50.00
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