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The Cost Principles discuss the what costs the Government may and may not pay during a contract, how they must be accounted for, and how the contractor must treat certain types of cost-creating items.  During this 3-hour program, our expert, Jennifer Flickinger, will dive into the Cost Principles – what are they, what do they say, when do they apply, and more!

Topics Include:

  • History of CAS & FAR
  • Layout and Structure of Part 31
  • What are the Cost Principles?
  • When do they apply?
  • Why are they important to me?
  • What happens when I ignore them?
  • What is the CAS, and why are we bringing it up during a Cost Principles training?
  • Primer on Direct and Indirect Rates
  • Direct Rates
  • Indirect Rates
  • Cost Allocability
  • Establishing an Indirect Rates
  • Audits
  • Selected Costs and FAR 31.205
  • Common Cost Hazards
  • Cost Best Practices
  • Contracts with Special Rules
  • Exceptions