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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.