Cost Principles for Federal Grants: 2 CFR Part 200 (Subpart e) and FAR 31.2
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Full disclaimer.Description
Successful grants managers understand how the Federal cost principles affect their awards. Gain a firm grounding and practical experience in the concepts central to cost principles by applying them to different recipient types. Use the cost principles throughout the grants lifecycle: budget development and review, spending decisions, and site visits and desk reviews or audits. This is a core course in all tracks of the GMCP™.
Learning Objectives
- Summarize the general history of the cost principles and how they currently apply
- Conduct research using the cost principles to answer cost allowability questions
- Practice applying the cost principles to on-the-job scenarios
Course Topics
Development and Applicability of the Cost Principles
- Development of Governmentwide Cost Principles
- Cost Principles Applicability
Basic Concepts
- Allowability
- Reasonableness
- Allocability
- Direct and Indirect Costs
- Selected Items of Cost
- Complex Questions Relating to Allowability
Using and Applying the Cost Principles on the Job
- Budget Development and Review
- Spending Decisions
- Documenting Costs
- Site Visits
- Audits and Audit Resolution
Who should attend
Anyone involved in grant-related financial actions will benefit from this course. Participants who completed this course prior to implementation of 2 CFR 200 would benefit from retaking this course to understand the changes.