Courtney Edmonson, CPA
Chief Executive Officer
Courtney is the Chief Executive Officer for Redstone Government Consulting, Inc. She is responsible for guiding the direction of the organization after spending several years as a vital member of the consulting and management team. Her entrepreneurial mindset and deep knowledge of the company and the government contracting industry have enabled Courtney to provide financial and operational leadership for Redstone while implementing a strategic vision for Redstone’s team and company growth. More About Courtney…
Michael Steen
Emeritus Advisor
Mike Steen is an Emeritus Advisor with Redstone Government Consulting, Inc. and a specialist in complex compliance issues to include major contractor cost accounting & business system regulations, financial compliance, resolution of DCAA audit issues, Cost Accounting Standards application, litigation support, and claims preparation. Prior to joining Redstone Government Consulting, Mike served in a number of capacities with DCAA for over thirty years, and upon his retirement, he was one of the top seven senior executives with DCAA. Mike Served as a Regional Director for two DCAA regions, and during that time was responsible for audits of approximately $25B and 800 employees. More About Michael…
Overview
Government contracts must adhere to the unique cost principles contained in (Federal Acquisition Regulations) Part 31. These principles must be considered in certain (FAR Part 15) contract cost estimating, cost reporting, and billing. Failure to comply with FAR Part 31 can result in the inability to recover costs incurred, potential penalties associated with unallowable indirect costs, and, in the worst-case scenario, investigations leading to treble damages under the False Claims Act.
In this seminar, we will discuss the approach to cost accounting required by the Government and identify the types of costs that are typically challenged, including the developing trends for government contract audits to apply new interpretations to longstanding regulations. This training will provide valuable insights into after-the-fact cost allowability challenges stemming from audits of indirect cost rate proposals and key considerations involving both direct and indirect costs.
Learning Objectives
At the completion of this one-day comprehensive seminar, participants will be able to:
- Identify the types of contracts whose contract cost estimating and cost accounting/reporting/billing are subject to FAR Part 31
- Identify the FAR subparagraphs which define direct vs. indirect cost allocation concepts
- List the three fundamental criteria for cost allowability on government contracts
- Identify the high-risk cost categories and the applicable FAR Part 31 allowability criteria
- Utilize DCAA’s website as a resource for identifying cost-allowability regulations, interrelated regulations, and DCAA “interpretations” (which are not always consistent with the regulations)
Program Content
The course will cover the following topics:
- FAR 31 applicability and exemptions
- Distinctions and links between FAR and CAS
- Accounting for unallowable costs
- Direct costs distinguished from indirect costs and cost allocability concepts
- Cost reasonableness principle and very recent developments
- Cost documentation standards including records retention
- Advance agreements
- Certification of indirect costs and penalties provisions
- DCAA “interpretations” generally, but not always consistent with the underlying regulation(s)
The course will cover some of the most high-risk cost categories in FAR Part 31.205 with open discussion and panel input, including:
- Employee morale and welfare vs. entertainment
- Advertising and public relations
- Compensation (including a discussion of several ASBCA cases)
- Professional and consulting fees
- Travel and business meetings
- Legal costs
- Selling and marketing
- Reasonableness
- Documentation
About Redstone GCI
RGCI enables contractors doing business with the U.S. government to comply with the complex and challenging procurement regulatory provisions and contract requirements by providing superior cost, pricing, accounting, and contracts administration consulting expertise to clients expeditiously, efficiently, and within customer expectations. Our consulting expertise and experience is unparalleled in understanding unique challenges of government contractors, our operating procedures are crafted and monitored to ensure rock-solid compliance, and our company’s charter and implementing policies are designed to continuously meet needs of clients while fostering a long-term partnership with each client through pro-active communication with our clients.
For more information, contact:
Lori Beth Moses,
lmoses@RedstoneGCI.com
256-704-9811
Redstone Government Consulting, Inc.
501 Madison Street SE, Suite 100
Huntsville, AL 35801
Website: www.redstonegci.com
Registration for this live seminar is closed. Please sign up to receive notifications for upcoming seminars here.
Event Details
March 19, 2025
Earn 8 CPE Credits
Cost:
$299 per person
Breakfast and lunch will be provided.
Time:
8:30 AM – 4:30 PM CST
Register by:
Wednesday, March 12, 2025
Location:
Jackson Center
6001 Moquin Drive
Huntsville, AL 35806
Click here for directions
No virtual or live streaming option available for this training course.
Program Level: Basic
Program Prerequisites: None
Advance Preparation: None
Field of Study:
Accounting-Technical
Delivery Method:
Group Live
Event Refund/Cancellation Policy:
Payment must be received prior to event. Event cancellations must be received prior to 12 p.m., two business days before the event in order to receive a full refund. No-show’s and late cancellations will be charged the full event price. You may send a substitute, please be sure to notify the event coordinator.
Contact Information:
For more information regarding refund, complaint and/or program cancellation policies, please contact our offices at 256-704-9800.
Redstone Government Consulting, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.