PPP Forgiveness, Indirect Rates & The Incurred Cost Proposal

About this product

Format: E-course
Duration: Approx. 90 minutes
Instructor: Robert Jones, Left Brain Professionals
Learning Credits: 1.5 CPEs, 1.5 ATCs
APTAC BOK: C.12 Financial Controls
*This course was recorded on February 9, 2021.


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The accurate calculation of indirect rates is critical to budgets, proposals, provisional billing rates, and ultimately to company profitability. And the timely determination of final rates, final invoices, and contract close-out is dependent on the proper completion of the incurred cost proposal. Adding in PPP loans and Section 3610 funds creates another layer of complexity to an already confusing process for small business owners. 

This doesn’t even consider the tax implications of PPP loans and other CARES Act or FFCRA COVID-19 relief options. Did you know according to FAR 31.201-5, contractors must accrue to the government the benefit of any refunds, rebates, or credits received in the form of cost reductions or cash refunds? 

During this course, we will discuss why contractors may or may not want to apply for forgiveness and will provide technical guidance on the proper calculation of rates and completion of the incurred cost proposal.

Here’s what you will learn:

  • Why government contractors should apply for PPP forgiveness.
  • Eligible expenses that qualify for forgiveness as a government contractor.
  • The impact of Section 3610 assistance.
  • How to report PPP forgiveness and Section 3610 on the ICP.
  • The effect of PPP and Section 3610 on indirect rates.
  • Recordkeeping requirements.

Target Audience: Accountant, Bookkeeper, Business Owner, CFO/Controller, CPA, Sr. Accountant, Government Contractor


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