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News & Events
Register Now - FAR Part 31 Cost Principles Training Course - Sept. 26
June 9, 2006
Date: |
Tuesday, September 26, 2006 |
Time: |
8:30 a.m. - 4:30 p.m. |
Cost: |
$250 per student
Student manual and lunch is included |
Place: |
Beason & Nalley, Inc.
101 Monroe Street
Huntsville, AL 35801 |
Registration: |
Contact Liz Waggett
Telephone: 256.533.1720
Registration form (PDF) |
Registration Deadline: |
September 19, 2006 |
Course Format: |
Classroom, with lecture and interactive discussion among participants |
Course Length: |
One day |
CPE Hours: |
8 hours |
Lecturer 
Darryl Walker, principal course lecturer. Mr. Walker is currently an owner of Beason & Nalley, and heads up the Government contracts consulting team. Prior to joining Beason & Nalley, Mr. Walker was an auditor and manager for the Defense Contract Audit Agency for nearly 34 years. Mr. Walker is a CPA in the State of Alabama and is also a Certified Fraud Examiner.
Course Description
The FAR Part cost principles without a doubt have the greatest impact on a government contractor's system for preparing bid proposal estimates and billing costs during contract performance of all procurement regulations. No other regulations governing contract compliance command as much procurement attention and audit oversight as these cost principles. Failure to understand the application of these regulations can cost a government contractor not only lost revenue but also interest and penalties on unallowable billed costs.
This one-day comprehensive review of the FAR Part 31 cost principles will include a discussion of 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 penalty provisions
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
- Insurance
- Selling and marketing
Students will be invited to actively participate in discussion and to ask questions related to individual company issues of cost allowability.
Register Now! (Registration Form)
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