CFG 0432 - Timekeeping for Government Contractors
Course participants will learn regulatory requirements and expectations related to timekeeping/labor reporting. Additionally, this overview serves as a guide through specific FAR and CAS regulations as well as best practices for labor compliance. This course guides the participant through writing policies and procedures, an overview on labor laws and acts, timekeeping roles and compensation requirements, labor accounting methods, and how to prepare employees for audits. The seminar is beneficial to company personnel who are new to government contracting and want to assist their workforce into a world of labor compliance. Learn about the government audit programs for timekeeping and what takes place when the government auditors conduct unannounced floor check interviews. Also, understanding the government internal control audit plan and ways to re-mediate non-compliance will be covered during this course.
This course may also be eligible for the following credits through The Public Contracting Institute:
- 6.5 CLEs
- 6.5 CLPs
If CLE credits are needed, the request along with the jurisdiction must be received before the start of the training.
This course is eligible for 7.8 CPEs.
George Mason University Continuing and Professional Education (formerly George Mason University Executive and Professional Education) 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 addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-2417.
- Understand regulatory requirements and expectations related to recording labor hours and the related billed cost.
- Outline acceptable company policy and procedures for timekeeping.
- What key business systems labor entry affects.
- Employee responsibilities and manager roles and expectations when validating/signing off time cards.
- Know when to perform and document internal labor audits; what happens in a unannounced floor check.
- Develop internal control labor audit plans.
- Understanding the differences between manual versus system automated time cards.
- Know how to identify non-compliance factors and issues; dealing with false claims and writing/following a remediation plan for corrective action.
+ Designed For
Applies Towards the Following Certificates
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