Sefton Boyars is joined by Bill Allen for this two-credit class on general cost principles of federal government grants. General cost principles are the rules that govern if any cost is acceptable to be charged to a federal grant. The course will cover everything from identifying the "big three" general cost principles, the Prudent Person Rule, requirements for the arms-length bargaining, and judging whether a cost is allowable. It will provide you with the knowledge of grantee and pass-through organizations, federal grant personnel, and auditors of federal grant programs.
Learning Objectives
Upon completing this course, participants will be able to:
Identify the general cost principle
Describe the Prudent Person Rule as it applies to the general cost principle
Describe the requirement for arms-length bargaining
Identifying whether a cost is allocable to a federal award
Identify the "big three" general cost principles
Judge whether a cost is allowable under the general cost principles
Major Topics
Rules Regarding Allowable Costs
Cost Principles for Federal Grants
General Cost Principles
Allowable costs
Reasonable & Necessary Costs
Allocability
2 CFR Section 200.405 Allocable costs
Shared Organizational Costs
Consistent Treatment
