Overview

The objectives of our FAR Part 31 Cost Principles course are to educate students as to the primary and predominant regulations governing cost accounting and cost allowability in government contracting.

Class participants will be instructed on foundations for 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.

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