What is the secret to building effective government cost proposals? Find out in our SlideShare, then contact KDuncan & Company at www.kduncan.com to get more information.
Successful Budgeting for Government ContractorsKevin Duncan
As any government contractor knows, successful budgeting is really important. Watch our SlideShare for tips on how to budget for success and then contact KDuncan & Company at www.kduncan.com for additional information!
This document summarizes topics covered in Week 12 of the ACCT101 Accounting and Financial Management course, including accounting for activities with joint costs and indirect cost allocation. It discusses two accounting situations involving a not-for-profit organization: 1) an informational activity that contains a fund-raising appeal, and 2) indirect cost allocation to determine the full cost of program activities. For the first situation, it outlines the AICPA criteria that must be met to allocate costs between the informational and fund-raising components. It then describes three allocation methods that can be used to allocate joint costs: the physical unit method, relative direct cost method, and stand-alone cost method. For the second situation, it defines direct and
Cost Accounting Vs Management Accounting & Management Accounting Vs Financial...Uttar Tamang ✔
This Slide includes:
1. Cost Accounting Vs Management Accounting
2. Management Accounting Vs Financial Accounting
3. Types of Accounting
4. Difference between Cost, Management and Financial Accounting with basis
This document provides an introduction to cost accounting. It defines cost accounting as gathering cost information and attaching it to cost objects to establish actual and standard costs of operations, processes, and products. It then discusses the importance of cost accounting to management for decision making, planning, control, and pricing. Key differences between cost and financial accounting are that cost accounting uses double entry accounting, has internal users, and reports past costs, while financial accounting follows accounting principles with external users and considers future information.
The document defines several types of costs that are important to consider in business:
Differential cost is the difference in cost between alternative decisions or options. Marginal cost is the additional cost of producing one more unit of a product or service. Standard cost is a predetermined cost that takes into account all factors affecting production costs. Estimated costs are predetermined costs that consider past costs and future cost factors. Cost control involves monitoring actual costs against budgets and taking action if actual costs are higher than planned. Conversion cost refers to the costs of transforming raw materials into finished goods.
The document describes various methods of costing used in cost accounting including: unit costing, job costing, contract costing, batch costing, operating/service costing, process costing, multiple costing, and uniform costing. It provides examples of different industries that use each method and brief descriptions of how each method works.
Cost accounting aims to capture a company's costs of production by assessing input and fixed costs to aid management in measuring financial performance. It is important because it allows for (1) classification and subdivision of costs by department, product, etc., (2) determination of selling prices based on production costs, and (3) identification of profitable and unprofitable products or activities.
This document discusses management accounting and compares it to financial accounting. It defines management accounting as providing both financial and non-financial information to support strategic, operational and control decision making within an organization. Examples of management accounting information include departmental expenses, product costs, and customer profitability measures. The document also provides a brief history of management accounting and discusses common management accounting systems and the roles of key financial players in organizations.
Successful Budgeting for Government ContractorsKevin Duncan
As any government contractor knows, successful budgeting is really important. Watch our SlideShare for tips on how to budget for success and then contact KDuncan & Company at www.kduncan.com for additional information!
This document summarizes topics covered in Week 12 of the ACCT101 Accounting and Financial Management course, including accounting for activities with joint costs and indirect cost allocation. It discusses two accounting situations involving a not-for-profit organization: 1) an informational activity that contains a fund-raising appeal, and 2) indirect cost allocation to determine the full cost of program activities. For the first situation, it outlines the AICPA criteria that must be met to allocate costs between the informational and fund-raising components. It then describes three allocation methods that can be used to allocate joint costs: the physical unit method, relative direct cost method, and stand-alone cost method. For the second situation, it defines direct and
Cost Accounting Vs Management Accounting & Management Accounting Vs Financial...Uttar Tamang ✔
This Slide includes:
1. Cost Accounting Vs Management Accounting
2. Management Accounting Vs Financial Accounting
3. Types of Accounting
4. Difference between Cost, Management and Financial Accounting with basis
This document provides an introduction to cost accounting. It defines cost accounting as gathering cost information and attaching it to cost objects to establish actual and standard costs of operations, processes, and products. It then discusses the importance of cost accounting to management for decision making, planning, control, and pricing. Key differences between cost and financial accounting are that cost accounting uses double entry accounting, has internal users, and reports past costs, while financial accounting follows accounting principles with external users and considers future information.
The document defines several types of costs that are important to consider in business:
Differential cost is the difference in cost between alternative decisions or options. Marginal cost is the additional cost of producing one more unit of a product or service. Standard cost is a predetermined cost that takes into account all factors affecting production costs. Estimated costs are predetermined costs that consider past costs and future cost factors. Cost control involves monitoring actual costs against budgets and taking action if actual costs are higher than planned. Conversion cost refers to the costs of transforming raw materials into finished goods.
The document describes various methods of costing used in cost accounting including: unit costing, job costing, contract costing, batch costing, operating/service costing, process costing, multiple costing, and uniform costing. It provides examples of different industries that use each method and brief descriptions of how each method works.
Cost accounting aims to capture a company's costs of production by assessing input and fixed costs to aid management in measuring financial performance. It is important because it allows for (1) classification and subdivision of costs by department, product, etc., (2) determination of selling prices based on production costs, and (3) identification of profitable and unprofitable products or activities.
This document discusses management accounting and compares it to financial accounting. It defines management accounting as providing both financial and non-financial information to support strategic, operational and control decision making within an organization. Examples of management accounting information include departmental expenses, product costs, and customer profitability measures. The document also provides a brief history of management accounting and discusses common management accounting systems and the roles of key financial players in organizations.
Aggregate demand is made up of private sector spending, government spending, and external sector spending on consumption goods, investment goods, and services. It includes consumption demand, investment demand, and government expenditure. Consumption demand depends on disposable income and the marginal propensity to consume, while investment demand depends on expected future output and the costs and benefits of investment like interest rates and expected growth. Aggregate demand and its components like consumption and investment are subject to fluctuations based on changes in incomes, taxes, interest rates, and expectations about future output.
Cost Accounting-
-Meaning of Cost Accounting
-Scope of Cost Accounting
-Nature of Cost Accounting
-Relationship b/w Financial Accounting & Cost Accounting
-Cost Accounting v/s Management Accounting
-Objectives of cost accounting
-Function of cost accountant
-Essentials of cost accounting
-Advantages of cost accounting
-Limitations of cost accounting
-Role of cost in cost accounting
-Cost Unit & Cost Centre
-Cost Techniques
-Costing Systems
-Costing Methods
-Cost Classification
-Components of total cost
-Cost Sheet.
This document provides an overview of accounting and its branches. It defines accounting as a specialized information system that records transactions and provides economic information. The main branches are financial accounting, cost accounting, and management accounting. Financial accounting records money transactions between an entity and third parties. Cost accounting determines costs of products, processes, and projects. Management accounting assists management in formulating policies and planning operations. The document also discusses the history and evolution of cost accounting and its contributions to functions like planning, controlling, decision making, inventory management, and financial analysis.
The document defines cost accounting as the process of accounting for costs from when they are incurred to how they relate to cost centers and units. It involves preparing statistical data, applying cost control methods, and determining the profitability of activities. Cost accounting helps with ascertaining, estimating, and controlling costs, reducing costs, setting selling prices, facilitating financial statements, and providing a basis for operating policies.
This document discusses indirect cost pools and pricing models. It defines the basic cost pools of fringe, overhead, and general and administrative (G&A) costs. It also discusses more advanced pools like multiple fringe, overhead, facility, IT, and material and subcontract handling. The document provides tips on properly setting up accounts and allocating costs to these pools. It covers calculating rates by dividing pools by their associated bases and updating rates over time based on budgets and actual costs.
The document defines budgetary control and marginal costing. It provides definitions of budgetary control from accounting bodies and outlines the key steps in budgetary control as establishing budgets for each organization section, recording actual performance, comparing to budgets, and taking corrective action if needed. It also lists common budget types and defines zero-based budgeting. For marginal costing, it defines terms like fixed costs, variable costs, contribution, margin of safety, profit-volume ratio, angle of incidence, and break-even point and provides an example marginal cost statement format.
Whenever an engineering economic analysis is performed for a major capital investment, the cost-estimating effort for that analysis should be an integral part of a comprehensive planning and design process requiring the active participation of not only engineering designers but also personnel from marketing, manufacturing, finance, and top management
This document provides an introduction to management accounting. It distinguishes management accounting from financial accounting in terms of primary users, purpose, time dimension, type of reports, scope and behavioral aspects. It also discusses trends in business environment and management accountability. Finally, it classifies costs and provides examples of preparing income statements for service, trading and manufacturing companies.
The document discusses different methods for adjusting accounting figures for inflation, including the Current Purchasing Power method, Current Cost Accounting, and the Finnish AHI method. It provides details on how these methods adjust items like inventories, fixed assets, profits, and equity for changes in purchasing power due to inflation. The methods aim to retain the historic cost accounting approach while expressing accounts in terms of purchasing power at the end of the accounting period.
A Dedicated, Proactive and Highly Experienced Practitioner, with Extensive Technical, and Leadership Expertise Gained Through Various Positions within the Engineering, Procurement and Construction, Oil/Gas and Energy Industries on an International Level.
Construction Training Program LFUCG, Bluegrass Airport January 25 2011Irma_Miller_11344
The document discusses accounting methods for construction company revenue recognition and costs. It provides an overview of the percentage of completion and completed contract methods for recognizing construction revenue. It also discusses direct and indirect construction costs, including labor, materials, and overhead costs. The document emphasizes the importance of accurate budgeting and financial record keeping for construction companies.
This document provides an overview of key concepts in management accounting, including the nature and purpose of management accounting, types of costs and cost behavior, and business mathematics concepts. It discusses how management accounting differs from financial accounting in its focus on internal reporting and aiding decision-making. It also outlines cost classification frameworks and cost estimation techniques like expected values, regression, and correlation analysis.
Accounting for Price Level Changes/ Inflation AccountingLucky
This document discusses accounting for price level changes and inflation accounting. It covers the concepts, methods, advantages, objectives, and important adjustments required. The main methods discussed are the current purchasing power method, replacement cost accounting method, current value accounting method, and current cost accounting method. The objectives of inflation accounting are to show true results and financial position in current values and ensure funds for asset replacement. Advantages include recognizing changes in money value and ensuring reported profits reflect economic reality.
Accounting (Controlling & Accounting for Costs)Agnes Puspita
This document discusses labor cost accounting and control. It describes the organizational structure including personnel, production planning, timekeeping, payroll, and cost departments. It explains their roles in labor costing such as recruiting employees, scheduling work, tracking employee time and costs, paying employees, and recording direct and indirect labor costs. The appendix discusses accounting for personnel related costs including benefits, taxes, and insurance that make up total labor compensation costs.
This document provides an overview of price level accounting, which is an accounting technique used to adjust financial statements for inflation. It does this by recording transactions at current prices rather than historical costs. The summary explains that price level accounting aims to provide an accurate picture of profitability and financial position by eliminating the effects of declining money value during inflationary periods. It also outlines some of the techniques used, including the current purchasing power method, replacement cost accounting method, current value accounting method, and current cost accounting method.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Tendering process, Bid Evaluation & Award ProcessPrateek Kashyap
The document provides an overview of the tendering, bid evaluation, and award process. It discusses key steps like issuing a notice inviting tenders, bid submission and opening, evaluation of technical, commercial, and financial capabilities of bidders, potential post-bid meetings, developing an evaluation report, and awarding the contract to the best bidder. The goal is to select the most suitable supplier through a fair and transparent competitive bidding process.
The document provides guidance on procurement planning for the government of Guyana. It discusses the importance of procurement planning, forecasting needs, developing a procurement work plan, and defining roles and responsibilities in the procurement process. The goals of the planning manual are to ensure acquisitions meet requirements, provide best value for money, allow fair vendor access, and ensure accountability. Key steps in the planning process include forecasting needs, developing a work plan to define requirements and acquisition processes, and scheduling timeframes.
The document summarizes a training on cost analysis for government contracts held from June 19-21 in Bethesda, MD. It covers an overview of cost elements, price analysis, identifying cost drivers, and regulations related to cost analysis including the FAR, unallowable costs, and profit calculations. The document provides details on limitations of cost clauses, analyzing cost proposals, modeling proposals, and evaluating cost drivers. It emphasizes thoroughly documenting all aspects of cost analysis.
Baker Tilly Presents: New to Cost Reimbursement Contracts? Meet Your New Frie...BakerTillyConsulting
Presented at NCMA's World Congress 2016
Presenters: Baker Tilly's Brent Calhoon, CPA, Partner and Jennifer Flickinger, Partner
The world of cost reimbursement contracts has many exciting twists and turns. Contractors have to be ready to tackle the roller-coaster ride that comes with these complex contracts. This session provides an overview of some of the strict regulatory requirements that come into play as contract value and risk increase. The presenters will touch on the business system criteria, annual cost reporting requirements, the Cost Accounting Standards, and more. www.bakertilly.com/governmentcontractors
Cost and Price Analysis: Requirements and Techniques Karl Fultz
The document summarizes a presentation on cost and price analysis requirements, techniques, and industry trends. It defines cost analysis and price analysis, outlines when each is required, and describes various techniques used for each including analyzing labor hours and rates, materials, indirect rates, and profit. It also discusses common roadblocks in cost analysis and emerging trends in the industry. Contact information is provided for follow up questions.
Aggregate demand is made up of private sector spending, government spending, and external sector spending on consumption goods, investment goods, and services. It includes consumption demand, investment demand, and government expenditure. Consumption demand depends on disposable income and the marginal propensity to consume, while investment demand depends on expected future output and the costs and benefits of investment like interest rates and expected growth. Aggregate demand and its components like consumption and investment are subject to fluctuations based on changes in incomes, taxes, interest rates, and expectations about future output.
Cost Accounting-
-Meaning of Cost Accounting
-Scope of Cost Accounting
-Nature of Cost Accounting
-Relationship b/w Financial Accounting & Cost Accounting
-Cost Accounting v/s Management Accounting
-Objectives of cost accounting
-Function of cost accountant
-Essentials of cost accounting
-Advantages of cost accounting
-Limitations of cost accounting
-Role of cost in cost accounting
-Cost Unit & Cost Centre
-Cost Techniques
-Costing Systems
-Costing Methods
-Cost Classification
-Components of total cost
-Cost Sheet.
This document provides an overview of accounting and its branches. It defines accounting as a specialized information system that records transactions and provides economic information. The main branches are financial accounting, cost accounting, and management accounting. Financial accounting records money transactions between an entity and third parties. Cost accounting determines costs of products, processes, and projects. Management accounting assists management in formulating policies and planning operations. The document also discusses the history and evolution of cost accounting and its contributions to functions like planning, controlling, decision making, inventory management, and financial analysis.
The document defines cost accounting as the process of accounting for costs from when they are incurred to how they relate to cost centers and units. It involves preparing statistical data, applying cost control methods, and determining the profitability of activities. Cost accounting helps with ascertaining, estimating, and controlling costs, reducing costs, setting selling prices, facilitating financial statements, and providing a basis for operating policies.
This document discusses indirect cost pools and pricing models. It defines the basic cost pools of fringe, overhead, and general and administrative (G&A) costs. It also discusses more advanced pools like multiple fringe, overhead, facility, IT, and material and subcontract handling. The document provides tips on properly setting up accounts and allocating costs to these pools. It covers calculating rates by dividing pools by their associated bases and updating rates over time based on budgets and actual costs.
The document defines budgetary control and marginal costing. It provides definitions of budgetary control from accounting bodies and outlines the key steps in budgetary control as establishing budgets for each organization section, recording actual performance, comparing to budgets, and taking corrective action if needed. It also lists common budget types and defines zero-based budgeting. For marginal costing, it defines terms like fixed costs, variable costs, contribution, margin of safety, profit-volume ratio, angle of incidence, and break-even point and provides an example marginal cost statement format.
Whenever an engineering economic analysis is performed for a major capital investment, the cost-estimating effort for that analysis should be an integral part of a comprehensive planning and design process requiring the active participation of not only engineering designers but also personnel from marketing, manufacturing, finance, and top management
This document provides an introduction to management accounting. It distinguishes management accounting from financial accounting in terms of primary users, purpose, time dimension, type of reports, scope and behavioral aspects. It also discusses trends in business environment and management accountability. Finally, it classifies costs and provides examples of preparing income statements for service, trading and manufacturing companies.
The document discusses different methods for adjusting accounting figures for inflation, including the Current Purchasing Power method, Current Cost Accounting, and the Finnish AHI method. It provides details on how these methods adjust items like inventories, fixed assets, profits, and equity for changes in purchasing power due to inflation. The methods aim to retain the historic cost accounting approach while expressing accounts in terms of purchasing power at the end of the accounting period.
A Dedicated, Proactive and Highly Experienced Practitioner, with Extensive Technical, and Leadership Expertise Gained Through Various Positions within the Engineering, Procurement and Construction, Oil/Gas and Energy Industries on an International Level.
Construction Training Program LFUCG, Bluegrass Airport January 25 2011Irma_Miller_11344
The document discusses accounting methods for construction company revenue recognition and costs. It provides an overview of the percentage of completion and completed contract methods for recognizing construction revenue. It also discusses direct and indirect construction costs, including labor, materials, and overhead costs. The document emphasizes the importance of accurate budgeting and financial record keeping for construction companies.
This document provides an overview of key concepts in management accounting, including the nature and purpose of management accounting, types of costs and cost behavior, and business mathematics concepts. It discusses how management accounting differs from financial accounting in its focus on internal reporting and aiding decision-making. It also outlines cost classification frameworks and cost estimation techniques like expected values, regression, and correlation analysis.
Accounting for Price Level Changes/ Inflation AccountingLucky
This document discusses accounting for price level changes and inflation accounting. It covers the concepts, methods, advantages, objectives, and important adjustments required. The main methods discussed are the current purchasing power method, replacement cost accounting method, current value accounting method, and current cost accounting method. The objectives of inflation accounting are to show true results and financial position in current values and ensure funds for asset replacement. Advantages include recognizing changes in money value and ensuring reported profits reflect economic reality.
Accounting (Controlling & Accounting for Costs)Agnes Puspita
This document discusses labor cost accounting and control. It describes the organizational structure including personnel, production planning, timekeeping, payroll, and cost departments. It explains their roles in labor costing such as recruiting employees, scheduling work, tracking employee time and costs, paying employees, and recording direct and indirect labor costs. The appendix discusses accounting for personnel related costs including benefits, taxes, and insurance that make up total labor compensation costs.
This document provides an overview of price level accounting, which is an accounting technique used to adjust financial statements for inflation. It does this by recording transactions at current prices rather than historical costs. The summary explains that price level accounting aims to provide an accurate picture of profitability and financial position by eliminating the effects of declining money value during inflationary periods. It also outlines some of the techniques used, including the current purchasing power method, replacement cost accounting method, current value accounting method, and current cost accounting method.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Tendering process, Bid Evaluation & Award ProcessPrateek Kashyap
The document provides an overview of the tendering, bid evaluation, and award process. It discusses key steps like issuing a notice inviting tenders, bid submission and opening, evaluation of technical, commercial, and financial capabilities of bidders, potential post-bid meetings, developing an evaluation report, and awarding the contract to the best bidder. The goal is to select the most suitable supplier through a fair and transparent competitive bidding process.
The document provides guidance on procurement planning for the government of Guyana. It discusses the importance of procurement planning, forecasting needs, developing a procurement work plan, and defining roles and responsibilities in the procurement process. The goals of the planning manual are to ensure acquisitions meet requirements, provide best value for money, allow fair vendor access, and ensure accountability. Key steps in the planning process include forecasting needs, developing a work plan to define requirements and acquisition processes, and scheduling timeframes.
The document summarizes a training on cost analysis for government contracts held from June 19-21 in Bethesda, MD. It covers an overview of cost elements, price analysis, identifying cost drivers, and regulations related to cost analysis including the FAR, unallowable costs, and profit calculations. The document provides details on limitations of cost clauses, analyzing cost proposals, modeling proposals, and evaluating cost drivers. It emphasizes thoroughly documenting all aspects of cost analysis.
Baker Tilly Presents: New to Cost Reimbursement Contracts? Meet Your New Frie...BakerTillyConsulting
Presented at NCMA's World Congress 2016
Presenters: Baker Tilly's Brent Calhoon, CPA, Partner and Jennifer Flickinger, Partner
The world of cost reimbursement contracts has many exciting twists and turns. Contractors have to be ready to tackle the roller-coaster ride that comes with these complex contracts. This session provides an overview of some of the strict regulatory requirements that come into play as contract value and risk increase. The presenters will touch on the business system criteria, annual cost reporting requirements, the Cost Accounting Standards, and more. www.bakertilly.com/governmentcontractors
Cost and Price Analysis: Requirements and Techniques Karl Fultz
The document summarizes a presentation on cost and price analysis requirements, techniques, and industry trends. It defines cost analysis and price analysis, outlines when each is required, and describes various techniques used for each including analyzing labor hours and rates, materials, indirect rates, and profit. It also discusses common roadblocks in cost analysis and emerging trends in the industry. Contact information is provided for follow up questions.
The document discusses the elements of an adequate proposal when submitting cost or pricing data to the government. It provides guidance on what should be included to support direct labor costs, material costs, subcontract costs, indirect rates, and cost or pricing data. It emphasizes that the contractor is responsible for providing supporting documentation and analyzing subcontractor proposals. It lists common deficiencies like a lack of budgetary data to support indirect rates or an inadequate analysis of subcontractor costs.
A Winning Game Plan for Contracting with the Federal GovernmentJim Cowan
This presentation covers Government Contracting. Topics covered include:
• Types of Federal Government Contracting
• Affirmative Action Regulations
• Executive Orders Applying to Government Contracts
• Sex Discrimination Guidelines
• Required Language/Posters
• Intellectual Property
• Contracting Opportunities for Small Businesses
DISCLAIMER:
By using this site and accessing the information presented by CowanPerry, PC., you understand that there is no attorney client relationship between you and CowanPerry, PC. The site and information contained therein should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
The information contained on this site is summary in nature and does not include all conditions, limitations, or exceptions that may be applicable to a particular situation. Every effort has been made to present current information without inaccuracies; however, errors, additions, deletions, and changes in the laws or procedures may occur and could make the information out of date or inaccurate. CowanPerry, PC does not assume any liability whatsoever for the "up-to-dateness", accuracy and completeness of the information.
TE is looking to reduce costs for connectors. They will evaluate alternative suppliers through benchmarking and assessing key performance indicators. A make vs. buy analysis will determine whether to outsource assembly. Negotiations will focus on pricing arrangements, contractual agreements, and establishing specifications and service level agreements. TE will also explore streamlining operations through a lean approach.
The document provides tips for small businesses to improve their proposals for government contracts, advising them to fully understand the solicitation process, focus on demonstrating relevant experience and qualifications for evaluation factors, and develop competitive pricing and technical approaches rather than superficial proposals. It also outlines the different types of solicitations, evaluation criteria, and resources for finding contracting opportunities.
The document discusses procurement processes for acquiring goods and services from outside sources. It covers:
1) Why organizations outsource including reducing costs, focusing on core business, and accessing new skills.
2) The key procurement management processes of planning, solicitation, source selection, contract administration, and closeout.
3) Factors to consider in procurement planning like what, when, and how much to procure as well as contract types involving fixed price, cost reimbursement, and unit prices.
Key Areas to Consider Regarding Grant ComplianceCBIZ, Inc.
Wilfredo Corps presented on key areas of grant compliance including classifying costs as direct or indirect, properly allocating and documenting staff time, strategies for determining unit costs, and new developments that may impact future grants administration. Some new developments proposed by OMB include focusing audit efforts on higher-risk awards, streamlining compliance requirements, strengthening audit follow-up processes, and reforming cost principles.
Accounting System Compliance for Non-AccountantsRobert E Jones
Many government contracts and grants require an "adequate" or "approved" accounting system. In this session, you will understand what products and what action you need to take to have an "approved" compliant accounting system that meets government requirements. Review real-life scenarios, dispel myths in the industry, and learn how to handle and avoid common pit-falls and misconceptions.
The document summarizes key aspects of Australia's quasi-market for employment services that has developed over time. It notes the long-term trends of increasing standardization, loss of diversity in the market, and providers copying each other's approaches. Performance-based contracting and payment-by-results models have led to market consolidation among large, existing providers who can handle the financial risks. High transaction costs of compliance and monitoring also favor insiders and discourage new entrants. As a result, the quasi-market exhibits less variety and innovation over time as frontline work becomes more rule-focused than client-focused.
Govology Webinar: Timekeeping & Labor DistributionRobert E Jones
Labor is the number one expense of most companies and the largest expense to the government when purchasing supplies and services. This is why timekeeping is so important for an organization. Accurately capturing and reporting all time worked and the assignment of that time to intermediate or final cost objectives, is critical when translating hours from timekeeping into dollars (i.e., labor distribution) for detailed financial analysis. Timekeeping and labor distribution are two separate, but related, requirements of the SF 1408 Pre-award Accounting System Survey and labor is always scrutinized as part of any proposal or audit. This webinar will cover the components of a timekeeping system, methods for total time accounting, as well as the in's and out's of labor distribution, its effects on financial reporting and viable timekeeping solutions.
NCMA Blue Ridge Chapter - Cost and Price Analysis 24 January 2024.pptxRobert E Jones
NCMA BLUE RIDGE CHAPTER PRESENTS COST AND PRICE ANALYSIS FOR GOVERNMENT CONTRACTORS
Master the intricacies of cost and price analysis for government contracts. Learn best practices for developing compliant, profitable proposals from industry experts. Gain insights on allowable costs, indirect rates, escalation, and more. Discover resources to build precise cost models and pricing strategies.
Learning Objectives:
• Learn the key elements of a strong basis of estimate
• Calculate allowable profit and fee under limitations
• Determine appropriate weighted guidelines for profit
• Identify valid sources for escalation rates
• Recognize components of a time-phased cost proposal
• Manage indirect costs through forward pricing agreements
• Account for facilities capital cost of money
• Develop accurate cost estimates with historical data
• Price competitively using cost analysis techniques
Govology Webinar: Detailed Preparation of the ICP Part II: Other Schedules, S...Robert E Jones
Government contractors subject to the Allowable Cost and Payment contract clause (FAR 52.216-7) must submit an adequate incurred cost proposal (ICP) within six months after the end of the fiscal year. A completed ICP provides the contractor with their claimed rates which, when approved, become final indirect rates for the period in question. In order to provide an adequate submission to the government, contractors must be knowledgeable of all the components of the incurred cost proposal and have an understanding of the proper treatment of costs to accurately calculate indirect rates. During our two-part webinar we will provide step-by-step guidance of each schedule and the required and recommended supporting documentation. We'll make sure you know how to properly present adjustments to general ledger amounts and how to document your working papers in preparation for an audit.
Part I focused on general and job cost ledger related schedules. Part II of this two-part series will be focusing on other schedules, special issues and templates.
Similar to Effective Government Cost Proposals (20)
Causes Supporting Charity for Elderly PeopleSERUDS INDIA
Around 52% of the elder populations in India are living in poverty and poor health problems. In this technological world, they became very backward without having any knowledge about technology. So they’re dependent on working hard for their daily earnings, they’re physically very weak. Thus charity organizations are made to help and raise them and also to give them hope to live.
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The Power of Community Newsletters: A Case Study from Wolverton and Greenleys...Scribe
YOU WILL DISCOVER:
The engaging history and evolution of Wolverton and Greenleys Town Council's newsletter
Strategies for producing a successful community newsletter and generating income through advertising
The decision-making process behind moving newsletter design from in-house to outsourcing and its impacts
Dive into the success story of Wolverton and Greenleys Town Council's newsletter in this insightful webinar. Hear from Mandy Shipp and Jemma English about the newsletter's journey from its inception to becoming a vital part of their community's communication, including its history, production process, and revenue generation through advertising. Discover the reasons behind outsourcing its design and the benefits this brought. Ideal for anyone involved in community engagement or interested in starting their own newsletter.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Presentation by Rebecca Sachs and Joshua Varcie, analysts in CBO’s Health Analysis Division, at the 13th Annual Conference of the American Society of Health Economists.
4. #2
• Time & Material – Set rate for labor per
labor category, number of units (hours)
are variable.
• Cost Support requirements: Medium
5. #3
• Cost Plus – Direct and indirect
costs (dollars) incurred are
variable, must be reconciled
before contract closeout
through audit, quality of records
is vital
• Cost Support requirements:
High
7. Compliance Matrix
• Read RFP – Add
anything related to
pricing.
• Identify questions that
you may have for
government
• Obtain amendments,
Q&As – add anything
related to pricing
11. Defending Price – Supporting
Documentation
Subcontractor Costs:
• Subcontractor cost proposal
• Subcontractor quotes
• May have to include a rate analysis to support
reasonable subcontractor cost proposal
12. Defending Your Pricing –
Supporting Documentation:
Travel Costs
• Airfare Quotes
• Joint Travel Regulations (JTR)
• Hotel
• Per Diem
• Mileage
13. Defending Your
Pricing –
Supporting
Documentation
Indirect Costs:
• Annual direct and
indirect rate
budget
• Include the entire
period of
performance of
contract
• Factor in the
direct costs of the
contract in
preparing the
proposal budget
and calculating
the proposed
indirect rates
14. Wrap Rates
• AKA: Multiplier / Load / Cost Factor
• A method of relating the mark-up over labor
• Ideally, you would know what is competitive
for the procurement
• Proposed wrap rate needs to be a number
that is consistent with corporate strategy
and you can live with.