This two day seminar provides and intensive examination of incurred cost proposals, including regulatory and audit issues, and a schedule by schedule review of data inputs. Day one will focus on Incurred Cost Proposal contents and adequacy, timing and extensions, and the DCAA's ICE model. Day two takes a more specific look at preparing proposals based on each required and optional schedule, culminating in a final review of current DCAA audit guidance and issues.
Field(s) of Study: Accounting
Program Level: Intermediate
Delivery Method: Group-live
Program Prerequisites: Government Contract Cost Accounting
Advance Preparation: No advance preparation required
Recommended CPE Credit: 14 credits
Program Registration Requirements
Registration fee $995, includes the price of course materials. Register online by selecting a date and clicking the "Register Now" button in the column to the right, call 1-888-300-8201, fax the completed Seminar Registration Form to 1-888-300-8201, or mail the completed Seminar Registration Form to Federal Contracts Training Center, 2700 Lake Cook Rd, Riverwoods, IL 60015.
Refund Policy
In the case that you cannot attend a seminar, FCTC permits attendee substitutions at any time prior to the start date of the seminar. We remind all participants to properly complete all Master’s Certification, CPE, and other credit documentation upon attending each seminar, including the post-seminar evaluation.
In Case of Cancellation
• If seminar registration is canceled or otherwise changed two weeks or more prior to the start date of the seminar, then FCTC will refund any tuition paid or apply it to a different seminar of the participant’s choice.
• If seminar registration is canceled or otherwise changed less than two weeks prior to the start date of the seminar, then FCTC will not refund any tuition paid; however, any tuition paid can be applied to a different seminar of the participant’s choice as long as he or she contacts FCTC prior to the start date of the seminar.
Complaint Resolution Policy
It is the goal of the FCTC to ensure 100% satisfaction with your seminar experience. If you believe that the seminar you attended did not meet or exceed the expectations of being relevant, well delivered, and professionally valuable, then please contact the FCTC with your concerns at 1-888-300-8201 or online at www.FCTCenter.com. Every reasonable effort will be made to resolve the issue in a timely manner.
CPE Accreditation
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CCH 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.
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Units
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Seminar Agenda
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Day 1
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Course Introduction
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9:00 – 9:15
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I
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Introduction to incurred cost proposals
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9:15 – 10:00
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Break
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10:30 – 10:45
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II
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Inputs and the accounting system
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10:45 – 12:00
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Lunch
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12:00 – 1:00
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III
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Review of schedules
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1:00 – 2:30
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Break
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2:30 – 2:45
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III
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Review of schedules (continued)
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2:45 – 5:00
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Day 2
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IV
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Preparing the proposal, schedule by schedule
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9:00 – 10:30
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Break
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10:30 – 10:45
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IV
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Preparing the proposal (continued)
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10:45 – 12:00
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Lunch
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12:00 – 1:00
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IV
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Final effort and optional schedules
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1:00 – 2:30
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Break
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2:30 – 2:45
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V
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Final review (practical exercise)
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2:45 – 4:30
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Course summary
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4:30 – 5:00
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Ms. Salamone is a Managing Consultant in the Government Contractor Services practice of Navigant Consulting, Inc., (“NCI”) resident in the firm’s Princeton, New Jersey office.
Professional Experience
Ms. Salamone is a Managing Consultant with Navigant Consulting, Inc. Ms. Salamone has 22 years of experience in evaluating direct and indirect project costs, preparing and analyzing claims, and litigation support, including expert witness testimony. Ms. Salamone has significant experience in government contracting consulting, including analysis of indirect costs and cost pools and in the preparation of annual incurred costs proposals required of contractors to the U.S. Federal Government. She has provided these services across a wide range of projects, and in numerous industries, including professional services firms.
Ms. Salamone is proficient in numerous computer software applications and database management programs used in claims analysis, litigation support and preparation of submittals to the federal government.
Compliance Review for a Healthcare Data Provider – Ms. Salamone provided a compliance review and submitted an expert report for a healthcare data provider who entered the government contracting arena. She has also provided opinions and recommendations to client regarding its current compliance capabilities with respect to its federal contract and regarding future contracts with federal agencies. She identified compliance gaps and recommended measures to overcome these gaps. Ms. Salamone also reviewed documentation, performed an assessment of the current organization, and reviewed existing policies and procedures and compliance capabilities. Ms. Salamone conducted on-site interviews with client. Also she reviewed how potential future awards would impact the client’s current organizational structure and how these awards may increase compliance needs. Finally, Ms. Salamone reviewed emerging legislation to identify areas for contingency planning as the client moves into the federal marketplace.
Incurred Cost Proposal (“ICP”) for Professional Services Firm – Ms. Salamone led portion of team that gathered and analyzed cost and contract data relating to federal government contracts. The team prepared separate ICP packages for six fiscal years of delinquent submissions. The team consisted of an average of eight consultants working over 12 months. They identified and evaluated over 400 time and materials (“T&M”) government contracts and validated the direct labor and material costs associated with these contracts. She assisted in the preparation and submittal of required schedules to the government. Concurrent with the above activities, Ms. Salamone acted as the point of contact between the team and the project directors responsible for performing the final quality control checks prior to submission of the packages.
As part of this effort, Ms. Salamone performed and/or led activities, including but not limited to:
• Generated and presented reports and analyses related to various project issues to senior client management and outside counsel
• Reviewed contracts and prepared briefs (required to generate for Schedule S of the government’s required submittal) for contracts spanning more than six years
• Generated and validated numerous supplemental schedules related to this submission of the government ICP packages
• Created working papers and memoranda documenting assumptions made and processes followed in the preparation of the submission
• Coordinated with key accounting personnel to gain insight into the client’s accounting system, and to obtain and validate information
• Assisted in the design, development and management of progress tracking system used to monitor the project progress
• Trained consultant staff and other personnel who transitioned onto the project
Large Scale ICP for Government Contractor – Ms. Salamone produced an ICP for several fiscal years for client who was behind in its submission. The team produced schedules related to 14,000 time and material contracts. Ms. Salamone prepared schedules and performed quality control reviews. Ms. Salamone often prepared Schedule Ks for the more complicated and voluminous time and material contracts. Preparation of the Schedule K workbooks included a review of the contract, contract documents and billing files. Engagement resulted in successful completion of the Incurred Cost Proposal under a defunct cost accounting system.
Forward Pricing Rates for Large Consulting Firm – Ms. Salamone analyzed direct and indirect costs and developed a computer model used to generate and evaluate current indirect rate structure and calculate forward pricing rates using current costs. She developed and presented various rate model analyses to senior client management. As a result of this work, client continued to use its existing rate structure and submit forward pricing rates without significantly increasing audit risk that would have accompanied a change in rate structure.
New Football Stadium Project Construction Litigation – Ms. Salamone performed analyses of cost associated with litigation of the construction of a new sports facility for a major project management and construction company. The work entailed comprehensive analyses of construction costs, schedules, subcontracts costs and other items in support of litigation between owner and subcontractors. She helped prepare and defend expert cost, schedule delay and issue analyses, as well as assisted in writing the expert report – which resulted in favorable settlement of the claims.
Landfill Cap Construction Litigation – Ms. Salamone assisted client in litigation initiated by the New Jersey Department of Environmental Protection relating to alleged design defects, schedule delays, and faulty construction of the capping of a landfill. Ms. Salamone led a team of four -six consultants who sampled and analyzed a significant number of labor status reports and the costs associated with those reports. She provided an expert report with supporting documentation to the client that ultimately allowed client to settle a seven-year litigation in its favor.
New Embassy in Africa Construction Claims Litigation/Mediation – Ms. Salamone supported a federal client who was sued by a contractor for allegedly failing to compensate the contractor for all change orders and delays in the construction. The team reviewed contract specifications and change orders and all related documentation and prepared a comprehensive analysis of the issues. Ms. Salamone testified, before the federal judge presiding over the mediation, on the scope and contracting issues.
Federal Government Hospital Construction Litigation – Ms. Salamone supported a federal client sued by a government contractor in a case alleging poor design and resulting delays in the construction of a hospital in Alaska. Ms. Salamone developed a detailed cost model that was used to successfully refute the inefficiency claim presented by the subcontractor.
Ms. Salamone also has provided auditing, modeling, analytical, project management, and expert witness testimony and litigation support services on numerous infrastructure, industrial, and commercial projects. These responsibilities have provided her with the ability to create and utilize complex data models to analyze and help resolve complex issues in a wide variety of situations.