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Timekeeping and Labor Cost Accounting: Best Practices in the Absence of Regulatory Requirements
Program Code: 170101
Seminar Date: Thursday, June 26, 2014
Start Time: 12:00 PM EST
Registration fee: $150.00
Although labor is a major component of government contract cost (and receives an overwhelming amount of attention from auditors and contracting officers), regulations and contracts are generally silent about labor-specific pricing and accounting requirements. Despite the lack of regulatory specificity, contractors and government auditors have established best practices and clear expectations regarding labor pricing and accounting integrity.
This session will examine these best practices covering all aspects of timekeeping, time charging, labor cost estimating, actual labor cost accounting, and critical process-related internal controls. We will also discuss primary focus areas during both pre- and post-award government audits of labor compliance including: direct vs. indirect labor, uncompensated overtime, labor classifications and categories, and key aspects of labor cost allowability.
Participants will learn about:
- Regulations that either directly and indirectly affect timekeeping and labor cost accounting;
- Consequences of poor timekeeping and labor accounting;
- Best practices for timekeeping and labor cost accounting, including internal controls;
- When proper labor classification is critical; and
- Current issues regarding labor cost allowability.
This fast-paced webinar will address the above issues and more while giving you the opportunity to ask our experts for advice about your unique concerns.
Purchase this Webinar on Demand
- ONLINE: Please click on the following link to Purchase Recording.
- BY PHONE: Call toll-free, 1-800-344-8096. Call Monday–Friday, 8:30am to 5:00pm (Eastern). Please mention the program title and code when registering. Payment may be made by credit card only.
NCMA’s webinars are live, 90-minute online educational events combining real-time presentation with telephone conferencing. Each month, NCMA presents timely topics drawn from both the government and commercial contracting arenas, given by subject-matter experts. Instructors use prepared presentation slides that are available for viewing during the live session. The typical format of the program includes 60 minutes of instructor(s) presentation, followed by a 30-minute Q&A period. To access the live session, you will need a touch-tone phone, preferably with speakerphone accessibility, and a computer with internet connectivity; VOIP is not available for this event.
Live sessions are held online from noon to 1:30 pm Eastern on a designated workday.
Participants earn 1.5 continuing professional education (CPE) hours.
For one low fee per seminar, there is no limit to the number of people that can listen and participate at each site. Seminar prices are $189 per site. A site is defined a single phone line and Internet connection.
Online registration is available for all listed webinars. Click on the title of the webinar you wish to attend for instructions. Each registered site is provided with login instructions and access codes to allow entrance to the webinar website. Registration closes two hours prior to the event start time.
Webinars are presented via WebEx services. To ensure that your site location can operate with WebEx, test Webex’s Join Site Meeting, found here: http://www.webex.com/lp/jointest. VOIP is not available for these events.
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