Cost Accounting Standards
Today’s Questions
What are the Cost Accounting Standards (CAS)?
Grant-related settlements in $$MM
New CAS requires four Standards and a Disclosure Statement
CAS in Brief
What is CAS 501?
What is CAS 502?
PPT Slide
CAS 505: Unallowable costs
How might CAS 501 affect UA departments?
Cost Sharing Definition
Mandatory Cost Sharing
Voluntary cost sharing
Voluntary Cost Sharing and Effort Reporting
When a contract or grant goes over budget
CAS 502 Issues
Consistent treatment--one extreme case
Definition of direct and indirect cost categories
What are the new or revised policies?
Criteria for charging a direct cost per policy
Unacceptable direct costing practices
Unacceptable practices, cont.
Allocation of a direct cost to two or more projects
Multiple Funding Sources - Projects as proposed
Multiple Funding Sources - Projects as awarded
When one sponsor won't pick up a certain cost:
With these awards departments can charge normally indirect to direct
Charging normally indirect to direct, cont.
Recharges: per grant and contract policy
Cost transfers: per separate policy
Documentation of Cost Transfers per policy
Documentation
Equipment as a direct charge should:
Conclusions
Where to seek guidance:
Email: chjones@fan.ua.edu
Home Page: http://cga.ua.edu
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