Master 2 CFR Part 200 (Subpart E) and FAR 31.2 cost rules, allowability, allocability, reasonableness, and practice decisions with real-world scenarios. Perfect for professionals who manage, oversee, or support federal assistance programs.
Overview
Syllabus
Module 1: Allowability, Allocability, and Reasonableness
- Apply the core tests for compliant costs under Subpart E.
- Differentiate direct vs. indirect costs and consistency rules.
- Document cost decisions and justifications.
Module 2: Selected Items of Cost
- Review high-risk cost categories and their specific rules.
- Practice assessing gray-area items using policy references.
- Develop defensible rationales for approvals/denials.
Module 3: Indirect (F&A) Costs and Rate Considerations
- Understand indirect cost proposals, rates, and de minimis options.
- Coordinate with cognizant agencies and apply caps/limitations.
- Tie rate decisions to budgeting and monitoring.
Module 4: Documentation, Internal Controls, and Testing
- Establish documentation standards that satisfy auditors.
- Test internal controls for cost compliance and accuracy.
- Prepare for desk reviews and Single Audit testing.
Module 5: Practical Scenarios and Case Exercises
- Analyze sample transactions for compliance with Subpart E.
- Resolve common edge cases and conflicting guidance.
- Draft corrective actions for improper cost findings.
Taught by
Alan McCain and Brian Simms
