Introduction to Federal Contract Cost Principles and Cost Accounting Standards as found in the Code of Federal Regulations Title 48

This course is useful as a primer and as a reference tool for accounting and finance staff members in commercial organizations which are contemplating or already have contracts with the Federal Government. We will discover what the Federal Government Contract Cost Principles are, when they are applicable, and where to find the most current online versions. In addition, we will identify the role of the Defense Contract Audit Agency (DCAA) and review specific types of costs, as treated in the regulations, to determine if they are allocable to federal government contracts and determine how they should be treated on federal government contracts as either allowable or unallowable costs.