When pricing US Government contracts based on cost, a contractor must identify and segregate unallowable costs, regardless of the contract type. When billing flexibly-priced contracts, unallowable costs must be excluded from all claimed cost – both direct and indirect costs. FAR Part 31, Contract cost principles and procedures proscribe the requirements for cost allowability. In this course, you will gain an understanding of FAR Part 31 applicability, record keeping requirements; and, key points associated with the each of the contract cost principles.
• Accounting & Financial Executives, Managers and Professionals
• Pricing/Estimating Professionals
• Program Managers and Project/Program Controllers
• Contract and Subcontract Administrators