Contract Requirements and Indirect Cost Rates - Session 2 - Optimizing Indirect Rates Series

Indirect Rate Optimization Series
The significant differences in opinion about the "appropriate" allocation of indirect costs has resulted in numerous regulations included in the FAR and CAS. These regulations are impacted by contract type and include FAR Part 31, Contract cost and procedures; FAR 31.216-7, Allowable cost and payment; and Cost Accounting Standards. Building upon indirect cost basics, we introduce the regulatory framework for the indirect rate structure and the compliance requirements applicable to a company's contract portfolio.
Learning Objectives: In this session, participants will become familiar with FAR subpart 31.1, Applicability; 31.201, General; 31.202, Direct costs and 31.203, Indirect costs; 31.204, Application of principles and procedures; Selected CAS including the consistency and allocation standards; and the Implications of FAR 31.216-7, Allowable cost and payment clause.