Cost Principles – An Introduction - Sponsored Projects
Cost Principles – An Introduction - Sponsored Projects
Cost Principles – An Introduction - Sponsored Projects
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<strong>Cost</strong> Accounting <strong>Principles</strong><br />
• OMB Circular A-21 provides the following cost accounting<br />
principles to test the allowability of costs associated with<br />
federally funded sponsored projects for Colleges and<br />
Universities:<br />
<strong>–</strong> Reasonable<br />
<strong>–</strong> Allocable<br />
<strong>–</strong> Treated consistently<br />
<strong>–</strong> Allowed by regulations and by terms of the sponsored<br />
agreement<br />
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