Preparing Incurred Cost Submissions (Event ID #17058)
Preparing Incurred Cost Submissions (Event ID #17058)
Overview
This engaging audio seminar will describe the major areas that a contractor needs to consider in the preparation, submission and eventual government audit of the annual incurred cost submission. The seminar is loaded with practical advice and best practices discussion for contractor personnel who are charged with the preparation of the various Schedules and supplemental data required by DCAA.
Agenda
Key topics will include:
• Overview of the Incurred Cost Submission
• Advance Preparations Necessary to Complete the Submission
• DCAA ICE Model
• Major “Schedules” of Note – Schedules H, I and K
• Booked versus Billed versus Claimed Costs
• Exclusion of Unallowable Costs
• Supplemental Data Requirements
Presenters
Frank J. Beatty, CPA
Mr. Beatty is a Director in the Government Contractor Services practice of Navigant Consulting, Inc. (NCI), in the Vienna, Virginia office. His specialty is advising clients on matters involving government contract regulatory compliance; contract pricing; cost accounting; contractor compliance and ethics programs. Mr. Beatty has over 30 years of government contracting / audit experience gained from working in, and with, domestic and international companies in a variety of industries, including aerospace, defense, telecommunications, information technology, and healthcare.
Professional Experience
Mr. Beatty consults with U.S. Federal Government contractors on complex cost allocability and allowability matters. He assists contractors interpret the Cost Accounting Standards (CAS) and the Federal Acquisition Regulation (FAR) cost principles, prepares CAS Board Disclosure Statements; performs internal control reviews on contractor systems; performs Truth in Negotiations Act (TINA) reviews (defective pricing) and assists contractors develop / restructure their indirect cost systems.
Mr. Beatty also consults with companies in connection with assessing the adequacy of internal processes, controls and self-governance programs. Engagements have included performing CAS and systems internal control self-assessments; evaluating the adequacy and effectiveness of compliance programs; Sarbanes-Oxley compliance reviews; assessing corporate ethics / hotline programs. Systems reviews include assessing labor charging practices; project cost accounting structures; indirect cost accounting practices; contract administration system; billing system, purchasing; and cost estimating systems.
Mr. Beatty directed the corporate compliance function in a Fortune 50 automotive / aerospace company (Chrysler Corporation) and a U.K. Financial Times 20 automotive / aerospace company (Lucas/Varity plc). He also served as the Director of Internal Audit at a Fortune 500 telecommunications provider (Contel Corporation). In these roles, he initiated audits of high-risk areas related to Government contracting and worked with both inside and outside counsel in reviews of contractual and compliance-related matters. He also served as the Chairman of the Business Ethics Committee at Chrysler Corporation.
Mr. Beatty consults with contractors and their legal counsel in matters of alleged fraud, qui tam disclosures and other misconduct matters. He assists in determining the nature and extent of the damages and provides recommendations to improve internal controls. He works with contractors who have been proposed for debarment and are working under an Administrative Agreement with U.S. Department of Justice and Department of Defense officials.
Mr. Beatty prepares contractor cost proposals, re-designs cost allocation systems, and supports government audits and negotiations. He assists large commercial companies in preparing their accounting requirements necessary to obtain, or maintain Government contracts.
Mr. Beatty served as Project Director (KPMG LLP) in the attestation audits of cost-based Managed Care Organizations for the HHS Centers for Medicare & Medicaid Services. He led the audit efforts of more than 100 cost reports for proper reimbursement - totaling more than $1.5 billion in reviewed expenditures. More 52,000 hours of effort provided to the client.
Mr. Beatty works with clients in the development of their annual incurred cost proposals to be submitted to the Defense Contract Audit Agency. He also conducts cost accounting standards compliance reviews and internal control assessments (self-audits) for contractors.
Mr. Beatty also provides regulatory consulting services, including proposal preparation assistance, including Quality Improvement Organizations (QIOs) in their work efforts for the Centers for Medicare & Medicaid Services and related government audit matters (DCAA, HHS OIG, A-122 and A-133 efforts). He has worked with several law firms in healthcare “qui tam” related matters. Mr. Beatty works with several Native Tribal American and Native Alaskan Tribal organizations in their regulatory and government audit matters - including Hurricane Katrina / FEMA audit issues. Mr. Beatty assisted in the development of a Compliance Manual for the U.S. Department of Commerce, National Institute of Standards and Technology (NIST), Advanced Technology Program.
Mr. Beatty instructs training seminars for contractors on varied matters such as Basics of Government Contracting, Cost Accounting Standards, Federal Acquisition Regulation cost principles, labor charging and indirect cost accounting. He has authored several articles on Government contracting matters.
Mitchell R. Plank, CPA
Mr. Plank is an Associate Director with the Government Contractor Services practice of Navigant Consulting, Inc. (NCI), resident in the firm’s Vienna, Virginia office. Prior to joining NCI, he worked as an auditor with a major international public accounting firm as well as an internal auditor for local government. Mr. Plank’s clients have included government and commercial contractors in a wide range of industries, including information technology, shipbuilding, healthcare, professional services, and engineering
Professional Experience
Mr. Plank has experience in several fields, including government contracts, audit, and fraud investigation. In the government contracts field, he has reviewed, analyzed, and constructed multiple incurred cost and forward pricing rate proposals, consulted with clients regarding cost accounting matters, including compliance with Cost Accounting Standards and Federal Acquisition Regulation cost principles, and performed an operational assessment and redesign of a government contractor’s business service functions. He has audited financial statements, performed various operational and cost assessments, and assessed the adequacy of internal controls in accordance with the Sarbanes-Oxley Act. In the field of fraud investigations, Mr. Plank has assisted in performing forensic accounting investigations on matters requiring discovery of financial data.
Mr. Plank has assisted a global management consulting, technology services and outsourcing firm in multiple facets of their Public Services practice. He has reviewed, revised, and created multiple incurred cost proposals and multiple forward pricing rate proposals across several segments. He has also managed multiple staff and client resources in performing the booked to billed reconciliation process for numerous cost type contracts in coordination with the incurred cost proposal. He has assisted with retroactive and prospective cost impacts. He has assisted with various DCAA compliance and audit requests. In addition, he has consulted regarding cost accounting matters, including compliance with Cost Accounting Standards and Federal Acquisition Regulation cost principles.
Mr. Plank assisted a government contractor in performing an operational assessment and redesign of their various business service functions. In this regard, he helped conduct a detailed review of contracts (government and commercial), billing, procurement, pricing, government accounting, and finance organizations and assess their performance against industry best practices. Building upon the understanding obtained in the assessment, he helped develop a transition plan addressing the gaps identified. Mr. Plank assisted in the various transition plan activities, including mapping out new business processes, updating roles and responsibilities for each functional organization, standing up a new project control organization, and supporting management in staffing the organizations appropriately.
Mr. Plank audited contract revenue and accounts receivable for a large systems integrator in connection with its quarterly and year-end financial statement preparation. He worked with key project and finance personnel to ensure adjustments were properly booked to the general ledger on an individual contract basis to accurately state revenue.
Mr. Plank has audited the financial statements of government contractors and other companies with annual revenues ranging from $10 million to $2 billion, and he has consulted on other complex financial reporting and accounting issues. He has also conducted accounting research to improve his clients’ accounting procedures and to help ensure proper compliance with Generally Accepted Accounting Principles (GAAP).
Mr. Plank has analyzed and assessed internal controls of both public and private organizations to ensure procedures are appropriately designed, operating effectively, and in accordance with Section 404 of the Sarbanes-Oxley Act. He documented critical business processes, evaluated the related controls, indentified control deficiencies, and worked with the client to develop and implement best practice solutions.
Additionally, Mr. Plank has experience performing forensic accounting investigations on matters requiring discovery of financial data. He has performed investigations into allegations of accounting irregularities and financial statement fraud. These efforts involved reviewing complex revenue recognition calculations and assessing the realizability of certain assets. Furthermore, he has assisted clients in investigating and quantifying the impact of fraudulent financial reporting and assessing the related internal control implications as a basis for taking corrective action.
As an internal auditor, Mr. Plank reviewed various county contracts and their related operational processes, and then identified control deficiencies and lost revenue to the county during various operational audits. In addition, he performed yearly budget duties and completed various financial audits involving inventory and cash counts.
Frank J. Beatty, CPA
Frank J. Beatty, CPA
Mr. Beatty is a Director in the Government Contractor Services practice of Navigant Consulting, Inc. (NCI), in the Vienna, Virginia office. His specialty is advising clients on matters involving government contract regulatory compliance; contract pricing; cost accounting; contractor compliance and ethics programs. Mr. Beatty has over 30 years of government contracting / audit experience gained from working in, and with, domestic and international companies in a variety of industries, including aerospace, defense, telecommunications, information technology, and healthcare.
Professional Experience
Mr. Beatty consults with U.S. Federal Government contractors on complex cost allocability and allowability matters. He assists contractors interpret the Cost Accounting Standards (CAS) and the Federal Acquisition Regulation (FAR) cost principles, prepares CAS Board Disclosure Statements; performs internal control reviews on contractor systems; performs Truth in Negotiations Act (TINA) reviews (defective pricing) and assists contractors develop / restructure their indirect cost systems.
Mr. Beatty also consults with companies in connection with assessing the adequacy of internal processes, controls and self-governance programs. Engagements have included performing CAS and systems internal control self-assessments; evaluating the adequacy and effectiveness of compliance programs; Sarbanes-Oxley compliance reviews; assessing corporate ethics / hotline programs. Systems reviews include assessing labor charging practices; project cost accounting structures; indirect cost accounting practices; contract administration system; billing system, purchasing; and cost estimating systems.
Mr. Beatty directed the corporate compliance function in a Fortune 50 automotive / aerospace company (Chrysler Corporation) and a U.K. Financial Times 20 automotive / aerospace company (Lucas/Varity plc). He also served as the Director of Internal Audit at a Fortune 500 telecommunications provider (Contel Corporation). In these roles, he initiated audits of high-risk areas related to Government contracting and worked with both inside and outside counsel in reviews of contractual and compliance-related matters. He also served as the Chairman of the Business Ethics Committee at Chrysler Corporation.
Mr. Beatty consults with contractors and their legal counsel in matters of alleged fraud, qui tam disclosures and other misconduct matters. He assists in determining the nature and extent of the damages and provides recommendations to improve internal controls. He works with contractors who have been proposed for debarment and are working under an Administrative Agreement with U.S. Department of Justice and Department of Defense officials.
Mr. Beatty prepares contractor cost proposals, re-designs cost allocation systems, and supports government audits and negotiations. He assists large commercial companies in preparing their accounting requirements necessary to obtain, or maintain Government contracts.
Mr. Beatty served as Project Director (KPMG LLP) in the attestation audits of cost-based Managed Care Organizations for the HHS Centers for Medicare & Medicaid Services. He led the audit efforts of more than 100 cost reports for proper reimbursement - totaling more than $1.5 billion in reviewed expenditures. More 52,000 hours of effort provided to the client.
Mr. Beatty works with clients in the development of their annual incurred cost proposals to be submitted to the Defense Contract Audit Agency. He also conducts cost accounting standards compliance reviews and internal control assessments (self-audits) for contractors.
Mr. Beatty also provides regulatory consulting services, including proposal preparation assistance, including Quality Improvement Organizations (QIOs) in their work efforts for the Centers for Medicare & Medicaid Services and related government audit matters (DCAA, HHS OIG, A-122 and A-133 efforts). He has worked with several law firms in healthcare “qui tam” related matters. Mr. Beatty works with several Native Tribal American and Native Alaskan Tribal organizations in their regulatory and government audit matters - including Hurricane Katrina / FEMA audit issues. Mr. Beatty assisted in the development of a Compliance Manual for the U.S. Department of Commerce, National Institute of Standards and Technology (NIST), Advanced Technology Program.
Mr. Beatty instructs training seminars for contractors on varied matters such as Basics of Government Contracting, Cost Accounting Standards, Federal Acquisition Regulation cost principles, labor charging and indirect cost accounting. He has authored several articles on Government contracting matters.
Mitchell R. Plank, CPA
Mitchell R. Plank, CPA
Mr. Plank is an Associate Director with the Government Contractor Services practice of Navigant Consulting, Inc. (NCI), resident in the firm’s Vienna, Virginia office. Prior to joining NCI, he worked as an auditor with a major international public accounting firm as well as an internal auditor for local government. Mr. Plank’s clients have included government and commercial contractors in a wide range of industries, including information technology, shipbuilding, healthcare, professional services, and engineering
Professional Experience
Mr. Plank has experience in several fields, including government contracts, audit, and fraud investigation. In the government contracts field, he has reviewed, analyzed, and constructed multiple incurred cost and forward pricing rate proposals, consulted with clients regarding cost accounting matters, including compliance with Cost Accounting Standards and Federal Acquisition Regulation cost principles, and performed an operational assessment and redesign of a government contractor’s business service functions. He has audited financial statements, performed various operational and cost assessments, and assessed the adequacy of internal controls in accordance with the Sarbanes-Oxley Act. In the field of fraud investigations, Mr. Plank has assisted in performing forensic accounting investigations on matters requiring discovery of financial data.
Mr. Plank has assisted a global management consulting, technology services and outsourcing firm in multiple facets of their Public Services practice. He has reviewed, revised, and created multiple incurred cost proposals and multiple forward pricing rate proposals across several segments. He has also managed multiple staff and client resources in performing the booked to billed reconciliation process for numerous cost type contracts in coordination with the incurred cost proposal. He has assisted with retroactive and prospective cost impacts. He has assisted with various DCAA compliance and audit requests. In addition, he has consulted regarding cost accounting matters, including compliance with Cost Accounting Standards and Federal Acquisition Regulation cost principles.
Mr. Plank assisted a government contractor in performing an operational assessment and redesign of their various business service functions. In this regard, he helped conduct a detailed review of contracts (government and commercial), billing, procurement, pricing, government accounting, and finance organizations and assess their performance against industry best practices. Building upon the understanding obtained in the assessment, he helped develop a transition plan addressing the gaps identified. Mr. Plank assisted in the various transition plan activities, including mapping out new business processes, updating roles and responsibilities for each functional organization, standing up a new project control organization, and supporting management in staffing the organizations appropriately.
Mr. Plank audited contract revenue and accounts receivable for a large systems integrator in connection with its quarterly and year-end financial statement preparation. He worked with key project and finance personnel to ensure adjustments were properly booked to the general ledger on an individual contract basis to accurately state revenue.
Mr. Plank has audited the financial statements of government contractors and other companies with annual revenues ranging from $10 million to $2 billion, and he has consulted on other complex financial reporting and accounting issues. He has also conducted accounting research to improve his clients’ accounting procedures and to help ensure proper compliance with Generally Accepted Accounting Principles (GAAP).
Mr. Plank has analyzed and assessed internal controls of both public and private organizations to ensure procedures are appropriately designed, operating effectively, and in accordance with Section 404 of the Sarbanes-Oxley Act. He documented critical business processes, evaluated the related controls, indentified control deficiencies, and worked with the client to develop and implement best practice solutions.
Additionally, Mr. Plank has experience performing forensic accounting investigations on matters requiring discovery of financial data. He has performed investigations into allegations of accounting irregularities and financial statement fraud. These efforts involved reviewing complex revenue recognition calculations and assessing the realizability of certain assets. Furthermore, he has assisted clients in investigating and quantifying the impact of fraudulent financial reporting and assessing the related internal control implications as a basis for taking corrective action.
As an internal auditor, Mr. Plank reviewed various county contracts and their related operational processes, and then identified control deficiencies and lost revenue to the county during various operational audits. In addition, he performed yearly budget duties and completed various financial audits involving inventory and cash counts.
Thomas Reynolds, CPA
Thomas Reynolds, CPA
Mr. Reynolds is an Associate Director in the Government Contractor Services practice of Navigant Consulting, Inc. (NCI), resident in the firm’s Vienna, Virginia office. He previously worked with a major international public accounting firm. Mr. Reynolds works principally with government contractors, providing both consulting and auditing services to companies in a wide range of industries, including manufacturing, engineering, professional services, healthcare, and information technology.
Professional Experience
Mr. Reynolds has audited the financial statements of government contractors and other companies with annual revenues ranging from $10 million to $74 billion. He has performed extensive testing and analysis relating to revenue recognition methodology, reserves, and internal control processes. He has also performed due diligence procedures relating to a potential acquisition on behalf of a client. Mr. Reynolds prepared a report of his findings, which was used by the organization in evaluating the potential acquisition target.
Mr. Reynolds has evaluated the effectiveness of internal controls over financial reporting and compliance with government procurement laws and regulations. He has assisted a leading government contractor and an international energy provider in their Sarbanes-Oxley Act, Section 404 implementation efforts of best practice controls. His efforts included documenting critical business processes in the areas of procurement and revenue recognition, evaluating the controls related to those processes, identifying control deficiencies, and working with management to develop and implement best practice solutions. He also has experience assisting clients with the preparation of desktop procedures for submission to the Defense Contract Audit Agency (DCAA).
Mr. Reynolds has also consulted with his clients regarding cost accounting matters, including compliance with Cost Accounting Standards (CAS) and Federal Acquisition Regulation (FAR) cost principles. Mr. Reynolds has led and supervised engagement teams from 2 to 20 members and has been responsible for day-to-day client interaction, properly staffing engagements, and invoicing clients.
Mr. Reynolds has assisted several service and consulting companies prepare their annual incurred cost submissions. His efforts have included supervising personnel reviewing for unallowable costs and applying those determinations to various schedules within the submission. Mr. Reynolds’ responsibilities also included reviewing the integrity and accuracy of various schedules included in the submissions.
Mr. Reynolds has also assisted a multi-national, multi-billion dollar construction, engineering, and services company in the procurement department by reviewing procurement files to ensure that the files were in compliance with federal procurement regulations, reviewing procurement documents in preparation for a Contractor Purchasing System Review (CPSR), and assisting legal counsel in preparing responses to DCAA’s Cost Disapproval Statements.
Mr. Reynolds performed complex revenue recognition reviews and analyses for two multi-billion dollar information technology firms. His efforts included reviewing key contracts to evaluate revenue recognition procedures related to percentage-of-completion and sales basis accounting, reserves, claims, and charge orders to verify whether current procedures were in compliance with revenue recognition accounting standards (i.e., SOP 81-1, SAB 104, etc.).
Mr. Reynolds managed efforts to develop an inter-company cost allocation process improvement plan for an $84 billion healthcare organization. Specifically, he analyzed current allocation practices, identified areas for improvement, and provided recommendations to internal legal counsel and corporate finance directors.
In addition, Mr. Reynolds is experienced working with companies on complex matters in connection with special investigations. His responsibilities involved fact-finding and analysis of accounting records and related data. Specifically, he conducted an investigation of alleged financial fraud at a Central American distribution unit of a global power company. He investigated and reviewed the alleged accounting improprieties and prepared a report summarizing his findings. Mr. Reynolds also assisted external legal counsel by performing a review of time charging practices for a government contractor specializing in engineering and technology services.
Mr. Reynolds has also participated in numerous business development and thought leadership initiatives. Specifically, Mr. Reynolds co-authored an article entitled “Government Contract Cost Accounting, Part 1: Federal Marketplace and the Need for Contract Cost Accounting” which appeared in the July 2010 edition of the Contract Management magazine. Mr. Reynolds has also presented several government contracting related topics via both internal and external training seminars. Mr. Reynolds presented a four day training seminar to individuals at a $22 billion management consulting, technology services, and outsourcing organization. The training focused on basic government contracting principles with a specific focus on cost allowability and statistical sampling in connection with incurred cost proposals.
Contractor Business Systems (Event ID #17057)
Contractor Business Systems (Event ID #17057)
Overview
One of the hottest acquisition related topics in the U.S. Department of Defense (DOD) is the validity of contractor business systems. According to the DOD, the six key contractor business systems include:
(1) Accounting system
(2) Estimating system
(3) Purchasing system
(4) Material Management and Accounting System (MMAS)
(5) Property management system
(6) Earned Value Management System (EVMS)
Agenda
This 90 minute seminar will discuss the following elements of each of the six contractor business systems:
• Nature,
• Applicability,
• FAR/DFARS Requirements,
• Exemptions,
• Government Oversight Agency,
• Audit/Review Conducted,
• And much more...
Presenters
Gregory A. Garrett, CPCM, C.P.M., PMP
Gregory A. Garrett is the Managing Director and leader of the Navigant Consulting, Inc. Government Contractor Services practice, headquartered in Vienna, Virginia. He is an internationally recognized expert in government contracting, cost estimating, contract pricing, proposal management, and project management. He is also a best-selling author of 16 books and 90+ published articles, a former highly decorated United States Air Force Military Officer, acclaimed speaker, and respected international business consultant. During the past 25+ years, he has successfully managed more than $30 Billion of large complex contracts and projects in both the U.S. government and industry. He has taught and consulted with more than 25,000 professionals in 40+ countries. He is the recipient of numerous national and international business awards for his writing, teaching, consulting, and leadership.
Mr. Garrett provides client support in assessing business risk and providing recommendations for performance improvement of contractor business systems, including: purchasing systems, cost estimating systems, contract pricing systems, contract administration systems, earned value management systems, subcontract management processes, and program management methodologies. He also serves as an expert witness in support of client claims/litigation.
Prior to joining Navigant Consulting, he served as Chief Operating Officer for Acquisition Solutions, Inc. where he led consulting engagements for over 30 U.S. Federal Government Agencies. He served 9 years with Lucent Technologies, Inc. as Chief Compliance Officer and VP of Program Management. Previously, he served as Partner and Executive Director Global Business at ESI International. Formerly, he served as a highly decorated military officer, for the United States Air Force, including assignments as: program manager Space Systems Division, warranted contracting officer Aeronautical Systems Division, professor of contracting management Air Force Institute of Technology, and acquisition action officer, HQ USAF the Pentagon.
Professional Experience
Mr. Garrett has worked with government contractors on a variety of complex issues, including:
• Guiding emerging government contractors to develop strategies to win business with U.S. Federal Government agencies
• Evaluating government prime contractors and subcontractors business systems, including: cost estimating systems, contract pricing systems, purchasing systems, government property management systems, earned value management systems, and contract administration systems
• Creating a Global Program Management Methodology, with processes, policies, tools, and training, supporting more than 2,000 project managers in over 40 countries for a Fortune 100 information technology firm
• Creating a comprehensive bid/proposal/capture management methodology, with process, policies, tools, and training for a Fortune 100 global services firm
• Evaluating the Life-Cycle buying and selling contract management and subcontract management processes of numerous Fortune 500 Firms to determine action plans to optimize business results
• Developing and implementing a robust and cost effective Earned Value Management System (EVMS) for a growing Top 50 U.S. Department of Defense government contractor
• Preparing companies for pending government reviews and audits conducted by the Defense Contract Management Agency (DCMA) and Defense Contract Audit Agency (DCAA), including: Contractor Purchasing Systems Review (CPSR), Government Property Management Systems Review, Integrated Baseline Review (IBR), Cost Estimating, and Contract Pricing Systems Reviews
• Serving as an expert contract negotiator/consultant to enable numerous Fortune 500 firms to obtain the best possible contract negotiation results on large complex high technology contracts
• Conducting Benchmarking studies of contract management, subcontract management, and logistics management processes, policies, tools, and training for numerous government agencies and government contractors
• Developing, evaluating, and conducting customized professional training seminars on numerous business topics worldwide, including: cost estimating, contract pricing, contract negotiations, bid/proposal/capture management, performance-based contracting, contract administration, program management, supply chain management, risk management, and leadership
Mr. Garrett is the author or coauthor of 16 books, including:
(1) Managing Contracts for Peak Performance, NCMA, 1990
(2) World Class Contracting, ESI International (1st Edition 1997), CCH, (2nd, 3rd, & 4th Editions 2001, 2003, 2007)
(3) The Capture Management Life-Cycle: Winning More Business (CCH, 2003)
(4) Managing Complex Outsourced Projects (CCH, 2004)
(5) Contract Negotiations (CCH, 2005)
(6) Contract Management Organizational Assessment Tools (NCMA, 2005)
(7) Performance-Based Acquisition (NCMA, 2006)
(8) U.S. Military Program Management (Management Concepts, 2007)
(9) Leadership: Building High Performance Buying & Selling Teams (NCMA, 2007)
(10) Solicitations, Bids, Proposals, & Source Selection (CCH, 2007)
(11) Getting Results: Six Disciplines of Performance-Based Project Management (CCH, 2008)
(12) Cost Estimating and Contract Pricing (CCH, 2008)
(13) Risk Management for Complex U.S. Government Contracts and Projects (NCMA, 2009)
(14) Managing Subcontracts(Thomson-West, 2009)
(15) Contract Administration (CCH, 2009)
(16) Time and Materials Contracts and Pricing (CCH, 2010)
Mr. Garrett has authored or coauthored over 90 published articles, in more than 12 professional magazines and journals on the following topics:
• Cost Estimating
• Contract Pricing
• Contract Negotiations
• Contract Administration
• U.S. Government Contracting
• Performance-Based Acquisition
• Commercial Contracting
• Bid/Proposal Management
• Project Management
• U.S. Military Program Management
• Supply Chain Management
• Risk Management
• Subcontract Management
• Earned Value Management
• Leadership
Thomas Reynolds, CPA
Mr. Reynolds is an Associate Director in the Government Contractor Services practice of Navigant Consulting, Inc. (NCI), resident in the firm’s Vienna, Virginia office. He previously worked with a major international public accounting firm. Mr. Reynolds works principally with government contractors, providing both consulting and auditing services to companies in a wide range of industries, including manufacturing, engineering, professional services, healthcare, and information technology.
Professional Experience
Mr. Reynolds has audited the financial statements of government contractors and other companies with annual revenues ranging from $10 million to $74 billion. He has performed extensive testing and analysis relating to revenue recognition methodology, reserves, and internal control processes. He has also performed due diligence procedures relating to a potential acquisition on behalf of a client. Mr. Reynolds prepared a report of his findings, which was used by the organization in evaluating the potential acquisition target.
Mr. Reynolds has evaluated the effectiveness of internal controls over financial reporting and compliance with government procurement laws and regulations. He has assisted a leading government contractor and an international energy provider in their Sarbanes-Oxley Act, Section 404 implementation efforts of best practice controls. His efforts included documenting critical business processes in the areas of procurement and revenue recognition, evaluating the controls related to those processes, identifying control deficiencies, and working with management to develop and implement best practice solutions. He also has experience assisting clients with the preparation of desktop procedures for submission to the Defense Contract Audit Agency (DCAA).
Mr. Reynolds has also consulted with his clients regarding cost accounting matters, including compliance with Cost Accounting Standards (CAS) and Federal Acquisition Regulation (FAR) cost principles. Mr. Reynolds has led and supervised engagement teams from 2 to 20 members and has been responsible for day-to-day client interaction, properly staffing engagements, and invoicing clients.
Mr. Reynolds has assisted several service and consulting companies prepare their annual incurred cost submissions. His efforts have included supervising personnel reviewing for unallowable costs and applying those determinations to various schedules within the submission. Mr. Reynolds’ responsibilities also included reviewing the integrity and accuracy of various schedules included in the submissions.
Mr. Reynolds has also assisted a multi-national, multi-billion dollar construction, engineering, and services company in the procurement department by reviewing procurement files to ensure that the files were in compliance with federal procurement regulations, reviewing procurement documents in preparation for a Contractor Purchasing System Review (CPSR), and assisting legal counsel in preparing responses to DCAA’s Cost Disapproval Statements.
Mr. Reynolds performed complex revenue recognition reviews and analyses for two multi-billion dollar information technology firms. His efforts included reviewing key contracts to evaluate revenue recognition procedures related to percentage-of-completion and sales basis accounting, reserves, claims, and charge orders to verify whether current procedures were in compliance with revenue recognition accounting standards (i.e., SOP 81-1, SAB 104, etc.).
Mr. Reynolds managed efforts to develop an inter-company cost allocation process improvement plan for an $84 billion healthcare organization. Specifically, he analyzed current allocation practices, identified areas for improvement, and provided recommendations to internal legal counsel and corporate finance directors.
In addition, Mr. Reynolds is experienced working with companies on complex matters in connection with special investigations. His responsibilities involved fact-finding and analysis of accounting records and related data. Specifically, he conducted an investigation of alleged financial fraud at a Central American distribution unit of a global power company. He investigated and reviewed the alleged accounting improprieties and prepared a report summarizing his findings. Mr. Reynolds also assisted external legal counsel by performing a review of time charging practices for a government contractor specializing in engineering and technology services.
Mr. Reynolds has also participated in numerous business development and thought leadership initiatives. Specifically, Mr. Reynolds co-authored an article entitled “Government Contract Cost Accounting, Part 1: Federal Marketplace and the Need for Contract Cost Accounting” which appeared in the July 2010 edition of the Contract Management magazine. Mr. Reynolds has also presented several government contracting related topics via both internal and external training seminars. Mr. Reynolds presented a four day training seminar to individuals at a $22 billion management consulting, technology services, and outsourcing organization. The training focused on basic government contracting principles with a specific focus on cost allowability and statistical sampling in connection with incurred cost proposals.
Managing Contract Changes (Event ID #17056)
Managing Contract Changes (Event ID #17056)
Overview
This engaging audio seminar will use a proven effective question and answer approach to address many of the critical aspects of managing contract changes on U.S. government contracts and subcontracts.
Delivery Method: Group-live
Program Level: Update
Field of Study:
Prerequisites: No prerequisites required
Advanced preparation: no advanced preparation required
Earn 1.5 CPE credits
Agenda
Key topics of discussion will include:
• Contract changes clause authority,
• Scope of work issues,
• Bilateral vs. unilateral changes,
• Contract change management process,
• Flow-down requirements,
• Contract changes notification and approval,
• Unauthorized contract changes,
• Contract changes ratification/approval,
• Apparent authority vs. actual authority issues,
• Undefinitized contractual actions (UCAs)
• And much more…
Presenters
Gregory A. Garrett, CPCM, C.P.M., PMP
Gregory A. Garrett is the Managing Director and leader of the Navigant Consulting, Inc. Government Contractor Services practice, headquartered in Vienna, Virginia. He is an internationally recognized expert in government contracting, cost estimating, contract pricing, proposal management, and project management. He is also a best-selling author of 16 books and 90+ published articles, a former highly decorated United States Air Force Military Officer, acclaimed speaker, and respected international business consultant. During the past 25+ years, he has successfully managed more than $30 Billion of large complex contracts and projects in both the U.S. government and industry. He has taught and consulted with more than 25,000 professionals in 40+ countries. He is the recipient of numerous national and international business awards for his writing, teaching, consulting, and leadership.
Mr. Garrett provides client support in assessing business risk and providing recommendations for performance improvement of contractor business systems, including: purchasing systems, cost estimating systems, contract pricing systems, contract administration systems, earned value management systems, subcontract management processes, and program management methodologies. He also serves as an expert witness in support of client claims/litigation.
Prior to joining Navigant Consulting, he served as Chief Operating Officer for Acquisition Solutions, Inc. where he led consulting engagements for over 30 U.S. Federal Government Agencies. He served 9 years with Lucent Technologies, Inc. as Chief Compliance Officer and VP of Program Management. Previously, he served as Partner and Executive Director Global Business at ESI International. Formerly, he served as a highly decorated military officer, for the United States Air Force, including assignments as: program manager Space Systems Division, warranted contracting officer Aeronautical Systems Division, professor of contracting management Air Force Institute of Technology, and acquisition action officer, HQ USAF the Pentagon.
Professional Experience
Mr. Garrett has worked with government contractors on a variety of complex issues, including:
• Guiding emerging government contractors to develop strategies to win business with U.S. Federal Government agencies
• Evaluating government prime contractors and subcontractors business systems, including: cost estimating systems, contract pricing systems, purchasing systems, government property management systems, earned value management systems, and contract administration systems
• Creating a Global Program Management Methodology, with processes, policies, tools, and training, supporting more than 2,000 project managers in over 40 countries for a Fortune 100 information technology firm
• Creating a comprehensive bid/proposal/capture management methodology, with process, policies, tools, and training for a Fortune 100 global services firm
• Evaluating the Life-Cycle buying and selling contract management and subcontract management processes of numerous Fortune 500 Firms to determine action plans to optimize business results
• Developing and implementing a robust and cost effective Earned Value Management System (EVMS) for a growing Top 50 U.S. Department of Defense government contractor
• Preparing companies for pending government reviews and audits conducted by the Defense Contract Management Agency (DCMA) and Defense Contract Audit Agency (DCAA), including: Contractor Purchasing Systems Review (CPSR), Government Property Management Systems Review, Integrated Baseline Review (IBR), Cost Estimating, and Contract Pricing Systems Reviews
• Serving as an expert contract negotiator/consultant to enable numerous Fortune 500 firms to obtain the best possible contract negotiation results on large complex high technology contracts
• Conducting Benchmarking studies of contract management, subcontract management, and logistics management processes, policies, tools, and training for numerous government agencies and government contractors
• Developing, evaluating, and conducting customized professional training seminars on numerous business topics worldwide, including: cost estimating, contract pricing, contract negotiations, bid/proposal/capture management, performance-based contracting, contract administration, program management, supply chain management, risk management, and leadership
Mr. Garrett is the author or coauthor of 16 books, including:
(1) Managing Contracts for Peak Performance, NCMA, 1990
(2) World Class Contracting, ESI International (1st Edition 1997), CCH, (2nd, 3rd, & 4th Editions 2001, 2003, 2007)
(3) The Capture Management Life-Cycle: Winning More Business (CCH, 2003)
(4) Managing Complex Outsourced Projects (CCH, 2004)
(5) Contract Negotiations (CCH, 2005)
(6) Contract Management Organizational Assessment Tools (NCMA, 2005)
(7) Performance-Based Acquisition (NCMA, 2006)
(8) U.S. Military Program Management (Management Concepts, 2007)
(9) Leadership: Building High Performance Buying & Selling Teams (NCMA, 2007)
(10) Solicitations, Bids, Proposals, & Source Selection (CCH, 2007)
(11) Getting Results: Six Disciplines of Performance-Based Project Management (CCH, 2008)
(12) Cost Estimating and Contract Pricing (CCH, 2008)
(13) Risk Management for Complex U.S. Government Contracts and Projects (NCMA, 2009)
(14) Managing Subcontracts(Thomson-West, 2009)
(15) Contract Administration (CCH, 2009)
(16) Time and Materials Contracts and Pricing (CCH, 2010)
Mr. Garrett has authored or coauthored over 90 published articles, in more than 12 professional magazines and journals on the following topics:
• Cost Estimating
• Contract Pricing
• Contract Negotiations
• Contract Administration
• U.S. Government Contracting
• Performance-Based Acquisition
• Commercial Contracting
• Bid/Proposal Management
• Project Management
• U.S. Military Program Management
• Supply Chain Management
• Risk Management
• Subcontract Management
• Earned Value Management
• Leadership
General Services Administration Acquisition Manual (2010)
General Services Administration Acquisition Manual (2010)
Overview
The General Services Administration Acquisition Manual (GSAM) consolidates the General Services Administration (GSA) agency acquisition rules and guidance. This 2010 edition of the GSAM contains all of the changes made over the past year.
Features
This 2010 edition of the GSAM contains all of the changes made over the past year, including complete rewrites of the following:
Part 502 – Definitions of Words and Terms
Part 503 – Improper Personal Conflicts of Interest
Part 513 – Simplified Acquisition Procedures
Part 514 – Sealed Bidding
Part 525 – Foreign Acquisitions
Part 529 – Taxes
Part 532 – Contract Financing
Part 537 – Service Contracting
Part 546 – Quality Assurance
Part 547 – Transportation
Part 549 – Termination of Contracts
In addition, important changes also appear at:
Part 501 – General Services Administration Acquisition Regulation System
Part 507 – Acquisition Planning
Part 511 – Describing Agency Needs
Part 512 – Acquisition of Commercial Items
Part 519 – Small Business Programs
Part 552 – Solicitation Provisions and Contract Clauses
Part 553 – Forms
Author
CCH Editorial Staff
CCH provides leading tax and business law information and software solutions. Its products track, report, explain and analyze tax and related law in over approximately 700 publications in print and electronic form for tax, accounting, legal, human resources, banking, securities, insurance, government and health care professionals.
History
- The CCH brand has been a market leader since 1913, the year the U.S. federal income tax was created.
- It is one of the most respected names among accountants, attorneys and compliance professionals.
- Five generations of legal and business professionals have considered CCH products among the essentials in any office and critical to keeping up with day-to-day changes in the law.
- CCH has made its home in the Chicago area and currently is headquartered in Riverwoods, IL.
Product Offerings
CCH markets approximately 700 products for the U.S. market. Many are subscription publications that are updated daily, monthly or annually. Information is provided via a variety of media in order to meet the needs of a diverse customer base, including:
- Internet
- Loose-leaf publications
- CD-ROM
- Soft and hard cover books and booklets
- Newsletters
- Online database services
CCH's flagship product is the Standard Federal Tax Reporter. Among the other major publications for which the company is known are: the U.S. Master Tax Guide, CCH Federal Tax Guide, Human Resources Management, CCH Federal Securities Law Reports, and CCH Medicare and Medicaid Guide.
Many of CCH's publications are provided through subscription services, with a focus on ensuring accurate and timely solutions delivered in virtually all media types. Customers seeking information and answers that are authoritative, and easy to find and use, choose CCH’s innovative research platform, IntelliConnect™.
CCH also produces ProSystem fx and related software used by professionals for tax preparation, review, compilation, audit and office productivity.
CorpSystem from CCH meets the sales and income tax compliance needs of business professionals. CCH TeamMate is the industry standard in Audit Management Systems and is used by more than 56,000 auditors from more than 1,500 organizations worldwide.
Product Groups
CCH is organized in four product groups, with each group focusing on providing services to professionals in the following areas:
- Legal
Customers
Primary customers for CCH's products are accountants, attorneys, and audit and compliance professionals in firms and corporations. Other major purchasers of these products are U.S. and state government agencies, universities and libraries. Customers include professionals in the areas of tax, securities, financial planning, human resources, health care, insurance, financial services, telecommunications and small business.
CCH Professionals
Over 4,000 people in the United States, Canada, Europe and Asia Pacific create and support CCH products. CCH offices include those in Riverwoods and Chicago, Ill.; Washington, D.C.; New York, N.Y.; Torrance, Calif.; and Wichita, Kan. CCH Publishing staff includes an active news bureau in Washington, D.C. There, beat reporters cover key areas of the nation's government, including Congress, the Internal Revenue Service and other federal agencies, the Supreme and Federal Courts and the White House. CCH also is supported by outside authors and advisors, all of whom are considered notable experts in their respective fields.
Ownership
CCH is part of Wolters Kluwer Law & Business.
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