Store Corporate Guide to FAR Cost Principles, 2017 Edition

Guide to FAR Cost Principles, 2017 Edition

Softcover Book

Softcover Book

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Navigating through FAR Part 31 is nothing short of a complex web of intricacies for any contractor trying to conduct business with the government. You need to follow the proper guidelines to avoid major repercussions later that can potentially put your business at risk.

The new Guide to FAR Cost Principles makes staying up-to-date on all the principles for pricing, modifications, and contract closeout less complicated.

The Guide to FAR Cost Principles provides:

  • In-depth, easy to understand explanations
  • General rules applicable to all costs principles and analysis of selected costs
  • Specific information and guidelines for submitting pricing data to the government
  • A breakdown of all cost principles applicable to commercial contracts
  • Cost principles for education institutions, local governments, and nonprofit organizations
Pages 400
Last Updated 09/21/2016
Product Line Wolters Kluwer Legal & Regulatory U.S.
ISBN 9781454874171
SKU 10037951-0002
Table of Contents

General Principles

  • Scope of part
  • Definitions
  • Availability of accounting guide
  • Scope of subpart—Applicability
  • Objectives
  • Fixed-price contracts
  • Contracts with commercial organizations
  • Contracts with educational institutions
  • Construction and architect-engineer contracts
  • Contracts with state, local, and federally recognized Indian tribal governments
  • Contracts with nonprofit organizations
  • Advance agreements
  • Indirect cost rate certification and penalties on unallowable costs

Commercial Entities

  • Composition of total cost
  • Determining allowability
  • Determining reasonableness
  • Determining allocability
  • Credits
  • Accounting for unallowable costs
  • Construction and architect-engineer contracts
  • Direct costs
  • Indirect costs
  • Application of principles and procedures

Selected Costs

  • Public relations and advertising costs
  • Bad debts
  • Bonding costs
  • Compensation for personal services
  • Contingencies
  • Contributions or donations
  • Cost of money
  • Depreciation
  • Economic planning costs
  • Employee morale, health, welfare, food service, and dormitory costs and credits
  • Entertainment costs
  • Fines, penalties, and mischarging costs
  • Gains and losses on disposition or impairment of depreciable property or other capital assets
  • Idle facilities and idle capacity costs
  • Independent research and development and bid and proposal costs
  • Insurance and indemnification
  • Interest and other financial costs
  • Labor relations costs
  • Lobbying and political activity costs
  • Losses on other contracts
  • Manufacturing and production engineering costs
  • Material costs
  • Organization costs
  • Other business expenses
  • Plant protection costs
  • Patent costs
  • Plant reconversion costs
  • Precontract costs
  • Professional and consultant service costs
  • Recruitment costs
  • Relocation costs
  • Rental costs
  • Royalties and other costs for use of patents
  • Selling costs
  • Service and warranty costs
  • Special tooling and special test equipment costs
  • Taxes
  • Termination costs
  • Trade, business, technical, and professional activity costs
  • Training and education costs
  • Travel costs
  • Costs related to legal and other proceedings
  • Research and development costs
  • Goodwill
  • Costs of alcoholic beverages
  • Asset valuations resulting from business combinations

Noncommercial Entities

  • Contracts with educational institutions—Purpose
  • Contracts with educational institutions—General
  • Contracts with educational institutions—Requirements
  • Contracts with state, local, and federally recognized Indian tribal governments—Purpose
  • Contracts with state, local, and federally recognized Indian tribal governments—General
  • Contracts with state, local, and federally recognized Indian tribal governments—Requirements
  • Contracts with nonprofit organizations—Purpose
  • Contracts with nonprofit organizations—General
  • Contracts with nonprofit organizations—Requirements