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General Cost Principles

Icon_Self-Study
QAS Self-Study
Icon_Level
Basic
Credits
CPE Credits
2 Credits: Auditing (Governmental)

Course Description

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 successful completion of this course, participants will be able to:

  • Identify the general cost principles
  • Identify the Prudent Person Rule as it applies to the general cost principles
  • Identify the requirement for arms-length bargaining
  • Identify whether a cost is allocable to a federal award
  • Identify the “big three” general cost principles
  • Determine whether a cost is allowable under the general cost principles

Course Specifics

Course ID
9229047SSVID
Revision Date
February 24, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

William T. Allen

Originally from the San Francisco Bay Area, Bill has 30 years of federal audit and contract monitoring and administration experience.  He served as the U.S. Department of Education’s Regional Inspector General for Audit for Regions VII, VIII, and X.  Mr. Allen also served as Region IX’s Assistant Regional Inspector General for Audit.  In these capacities, he managed the planning, performing, and reporting for performance and compliance audits of public and private (nonprofit and for-profit) educational and health-related organizations.  He also negotiated reimbursement contracts, and overhead expense for Medicare Providers and Intermediary organizations [Insurance organizations]. He has led a peer review …

William T. Allen Read More »

Sefton Boyars

Until his retirement in October 1996, Sefton Boyars was the Department of Education’s Regional Inspector General for Audit in Regions IX and X. During his 35- year career, Sefton worked for a variety of federal and local government audit agencies. He is a member of the California CPA Society and was a long-time chair of his chapter’s combined committee on Accounting Principles and Auditing Standards and Government Accounting and Auditing. Sefton is a Certified Public Accountant, a Certified Government Financial Manager, a Certified Fraud Specialist, and a Certified Internal Auditor. He is a past chair of the Western Intergovernmental Audit …

Sefton Boyars Read More »

General Cost Principles

Expert Instructors
CPE CREDITS
2 Credits: Auditing (Governmental)

$98.00

Icon_Self-Study
QAS Self-Study
Icon_Level
Basic
Credits
CPE Credits
2 Credits: Auditing (Governmental)

Course Description

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 successful completion of this course, participants will be able to:

  • Identify the general cost principles
  • Identify the Prudent Person Rule as it applies to the general cost principles
  • Identify the requirement for arms-length bargaining
  • Identify whether a cost is allocable to a federal award
  • Identify the “big three” general cost principles
  • Determine whether a cost is allowable under the general cost principles

Course Specifics

Course ID
9229047SSVID
Revision Date
February 24, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

William T. Allen

Originally from the San Francisco Bay Area, Bill has 30 years of federal audit and contract monitoring and administration experience.  He served as the U.S. Department of Education’s Regional Inspector General for Audit for Regions VII, VIII, and X.  Mr. Allen also served as Region IX’s Assistant Regional Inspector General for Audit.  In these capacities, he managed the planning, performing, and reporting for performance and compliance audits of public and private (nonprofit and for-profit) educational and health-related organizations.  He also negotiated reimbursement contracts, and overhead expense for Medicare Providers and Intermediary organizations [Insurance organizations]. He has led a peer review …

William T. Allen Read More »

Sefton Boyars

Until his retirement in October 1996, Sefton Boyars was the Department of Education’s Regional Inspector General for Audit in Regions IX and X. During his 35- year career, Sefton worked for a variety of federal and local government audit agencies. He is a member of the California CPA Society and was a long-time chair of his chapter’s combined committee on Accounting Principles and Auditing Standards and Government Accounting and Auditing. Sefton is a Certified Public Accountant, a Certified Government Financial Manager, a Certified Fraud Specialist, and a Certified Internal Auditor. He is a past chair of the Western Intergovernmental Audit …

Sefton Boyars Read More »

General Cost Principles

Expert Instructors
CPE CREDITS
2 Credits: Auditing (Governmental)

$98.00