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EventsFAR Part 31 Cost Principles Training Event Thursday, September 16, 2010
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| Mr. Michael E. Steen Senior Managing Consultant Beason & Nalley, Inc. |
Course Description
No other section of the Federal Acquisition Regulations draws more attention by procurement authorities and generates as much audit oversight as the FAR Part 31 Cost Principles when it comes to bidding and billing costs to government customers. More than any other government regulation, FAR Part 31 Cost Principles places a huge administrative burden on government contractors requiring identification of allowable costs allocable to certain government contracts.
The objectives of this course are to educate students in the critical regulations placing cost accounting and cost allowability standards on government contractors. Class participants will learn the foundations of a compliant job cost accounting system, to include segregation of cost by contract, direct cost charging, indirect cost groupings and proper allocation bases, identifying unallowable costs, properly documenting expenses, and penalties for unallowable costs. Specific types of costs, identified in FAR 31.205, that are often subject to misunderstanding or judgmental interpretation will be discussed in detail. This one-day comprehensive course will enable audience participants to understand relevance, applicability, and compliance features of the most important cost principles provisions, and to understand the trap doors and recurring issues that can arise when failing to comply with these important cost guidelines..
The FAR Part 31 Cost Principles training course will include the following topics:
- Contract applicability of cost principles
- Accounting for unallowable costs
- When costs are direct vs. indirect
- What encompasses allocability and reasonableness
- Consistency principle
- Cost documentation standards
- Advance agreements
- Certification of indirect costs and penalties provisions
- Audit trends in questioning certain costs
The course will also examine the allowability of some of the most sensitive and frequently misunderstood selected costs that are addressed in FAR Part 31.205. A few of the specific cost elements highlighted for discussion will include:
- Employee morale and welfare
- Advertising and public relations
- Executive compensation
- Organization costs
- Professional and consulting fees
- IR&D and B&P
- Employee travel
- Legal fees
- Lobbying and political activities
- Insurance
- Selling and marketing
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We look forward to seeing you at the Training Event, September 16th!
Also see:
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Event Details
| Date: | September 16, 2010 |
| Time: | 8:15 AM - 4:45 PM |
| Cost: | $325 per person |
| Location: | Embassy Suite Hotel 800 Monroe Street Huntsville, AL 35801 |
| Registration: | This Class is Full |
| Cancellation Policy: | Event Cancellation Policy |
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