Let’s face it, Federal Acquisition Regulation (FAR) Audits are complex and loaded with tricky nuances. Yet, the importance of correctly interpreting and applying the FAR requirements is critical — did you know you could be held criminally liable for overhead rate errors?
Just some of what you will learn: •Overview of FAR theory and related rules
•What the AASHTO Audit Guide means for your firm
•Navigating federal vs. state requirements
•Roles and responsibilities for your firm vs. the state DOT vs. sub-consultants
•Accounting system requirements you must have in place
•What’s so important about timesheets — and how they are handled?
•How to use a “Cognizant Letter: to simplify your contracting
•Do Cost Accounting Standards (CAS) apply to you?
•What is the future of technology use?
•Is your firm required to develop a field rate?
•What your project managers and principals need to know when proposing on a government contract
•How to comply with FAR financial management system requirements
•FAR requirements for internal controls
•Related party transactions — what is allowed under FAR?
•Which labor costing method alternatives are ideal?
•Proper compensation planning — what is “reasonable” compensation
•Executive compensation under FAR
•Can an agency limit your direct labor rates?
•Does the BBA rate apply to your contracts?
•Why allowable overhead is the biggest profit factor for government contract negotiations
•Minimizing unallowable overhead
•Which business development costs are allowed?
•Warrantee costs, insurance costs, interest costs, lobbying costs — what’s allowable and what’s not?
•Which overhead costs are never allowed?
•And much, much more!
Click here to download the meeting flyer.