Understanding FAR-compliant Rates and Indirect Costs (IDC)
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If you’re new to government contracting or want to increase your firm’s profitability, this workshop will help you better understand how the government evaluates and approves your hourly rates. It is critical that you know what goes into your cost pools and how to maximize your indirect cost rates for a greater multiplier. Dan Markham and Jennifer Clippinger, with Markham & Associates PC, will show you how FAR-compliant rates are calculated, the difference between allowable and unallowable costs, how a firm’s policies affect their indirect cost rate, and how to ensure your government projects are profitable. You’ll also learn how to account for PPP loans and forgiveness so your rates don’t take a hit.
What You'll Learn:
• How to calculate FAR-compliant indirect cost rates for government contracting
• How to create business and accounting policies that maximize your IDC
• The difference between allowable and unallowable costs
• The effect that tax planning has on the indirect rate
• Examples about how your policies can affect your indirect rate
• Proper accounting for PPP loans and forgiveness
, has over 30 years of experience as a public account. He worked for 28 years as an Auditor at the Colorado Department of Transportation (CDOT), giving him invaluable insight on FAR indirect cost audits. As the Owner of Markham & Associates, Dan and his team work with many small businesses and individuals to set up their chart of accounts, maintain FAR-compliant bookkeeping, utilize GAAP accounting principles, and file taxes.
, Master’s in Accounting, Markham & Associates, has a unique perspective for engineering firms. She has an undergraduate degree in Biochemical Engineering and six years of process costing and design experience at the National Renewable Energy Laboratory (NREL). This cumulates in an understanding of both technical and financial issues that engineering firms face when receiving government funding. She focuses on FAR indirect costs audits and has four years of auditing experience in addition to her Accounting Master’s.
Fee: $ 20.00
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