Federal Government Contracting—Unallowable Costs
Learning objectives

This course will provide an overview of the cost principles included under Federal Acquisition Regulation (FAR) 31.2, Contracts with Commercial Organizations. The course will detail the specific FAR criteria used in determining whether costs are allowable, allocable, reasonable and meet other requirements so that the costs may be included in proposals or invoices submitted to the federal government. Specifically, the course will cover the following main topics:

  • Recognize the criteria used in determining that a cost is allowable under FAR 31.2;
  • Understand key aspects of cost principles associated with particular types of costs under FAR 31.205; 
  • Identify the role of the accounting system and internal controls in identifying and segregating unallowable costs, and the need to maintain records that support the allowability of amounts proposed or billed under government contracts;  
  • Recognize the applicability of penalties associated with failing to properly account for unallowable costs.  

Instructor bio

David Harvey, CPA has over 25 years of audit experience in the federal government sector with a primary focus on internal controls, risk assessments, contract auditing, and audit coordination and follow-up. David holds a Bachelors of Business Administration with a double major in accounting and economics from James Madison University in Harrisonburg, Virginia, and a Masters in Business Administration from Frostburg State University in Frostburg, Maryland. A CPA license holder in Virginia, David teaches accounting courses as a member of the adjunct faculty at American University in Washington, D.C., and Northern Virginia Community College in Sterling, Virginia.
National Registry of CPE Sponsors

A Becker Professional Education is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

Becker Professional Education Sponsor I.D. Numbers NASBA: 107294, New York: 002087, New Jersey: 20CE00226700, Texas: 009580, Ohio: CPE.186, Illinois 158.002405, Pennsylvania: PX177823

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