Timekeeping and Labor Distribution
Format: Live webinar (on-demand recording available on November 5, 2020)
Duration: Approx. 90 minutes
Instructor: Robert Jones, Left Brain Professionals
NCMA Certifications: 1.5 CPEs
APTAC Certifications: 0.75 ATC (pending)
APTAC BOK: C.12 Financial Controls
*Your registration includes access to the on-demand recording.
Labor is the number one expense of most companies and the largest expense to the government when purchasing supplies and services. This is why timekeeping is so important for an organization. Accurate capturing and reporting all time worked and the assignment of that time to intermediate or final cost objectives are critical when translating hours from timekeeping into dollars (i.e., labor distribution) for detailed financial analysis. Timekeeping and labor distribution are two separate, but related, requirements of the SF 1408 Pre-award Accounting System Survey, and labor is always scrutinized as part of any proposal or audit. This course will cover the components of a timekeeping system, methods for total time accounting as well as the in’s and out’s of labor distribution, it’s effects on financial reporting, and viable timekeeping solutions.
After attending this webinar, you will:
- Know the key components of a timekeeping system.
- Have the ability to select an appropriate method for total time accounting.
- Understand labor distribution.
- Understand the effect of labor distribution on financial reporting and indirect rates.
- Become familiar with different timekeeping solutions.
Target Audience: Small business owners, accountants, contract managers
Meet Your Instructor:
Robert E. Jones, CPA, CPCM, NCMA Fellow
Award-winning speaker, Robert E. Jones shows audiences how to navigate the constantly changing legal and regulatory landscape of government contracts. In his engaging and highly rated presentations, he shares insider secrets drawn from 15 years of DoD contract and accounting experience. His proactive, decisive approach to finding opportunities and solving problems is based on experience in managing more than $30 million in federal contracts.
Mr. Jones has experience with a wide variety of speaking engagements, including emcee/moderator, seminars, training, chapter meetings, and conference presentations. He engages audiences with innovative approaches to contract profitability, accounting, compliance, and related topics.
The West Virginia native, Mr. Jones earned a bachelor’s degree in accounting from the McColl School of Business at Queens University of Charlotte in North Carolina. He holds a master’s degree in accountancy from The Graduate School of the College of Charleston in South Carolina. He is a licensed CPA in the State of Ohio.