Cost Reasonableness and Allowability Overview and Updates. Determining allowable costs for contract pricing or reimbursement purposes can be a complicated process for contractors. This webinar will provide an overview of FAR Part 31–Contract Cost Principles and Procedures, specifically focusing on:
- FAR requirements in FAR 31.201-2 and FAR 31.201-3 for determining cost allowability and reasonableness;
- Certain selected cost principles in FAR 31.205;
- Recent cases impacting the interpretation and application of these cost principles; and
- Government audit trends, as well as a review of best practices for overcoming and mitigating audit challenges.