Access to this course will end on Monday May 13, 2024 as
the course is being archived.
- If you have completed the course, your certificate of completion will still be available through your My Virtual Learning profile and any CPEs earned will still be listed on your NCMA profile.
- If you have not completed the course, please do so before the date listed.
Description:
This course will present government contractors and subcontractors with key financial elements of closing multiple types of contracts, including how final negotiated indirect rates affect flexibly priced contracts. The course will discuss the effects of untimely audits, settlement of multiple fiscal years, and record retention policies. Finally, participants will learn about specific audit risks related to a number of these factors, and recent government policy updates related to contract closeout.
Intended Audience: Contract managers, subcontractors
Level of Difficulty: Beginner
Learning Objectives:
- Identify policy areas and record retention requirements that affect contract closeout
- Discuss ways to keep accounting system records and prepare your Incurred Cost Submission, including Open contracts and Schedule O, Cumulative billings and Schedule I, and Populating the Cumulative Allowable Cost Worksheet (CACWS).
- 6.5 - Close Out Contract
- Russell Forbes, Manager, Baker Tilly
- Drew Lewis, Manager, Baker Tilly
Cost: $180 member / $225 non-member
How to Complete this Course:
This course consists of a video presentation, downloadable resources and more! To access your Certificate of Completion and receive your course credits, you must complete the required activities and earn a score of 70% or higher on the quiz.
= Required activity
