Cost Accounting, Office of Budget and Controller. Cost Accounting Compliance Printer Friendly Version (PDF Version)Federal Regulations. Cost accounting and financial compliance for sponsored projects in entity 0. University of Pittsburgh is dictated by various federal Office of Management and Budget Circulars and agency regulations. The following is a brief explanation of the major bodies of federal and agency regulations that address financial compliance related to sponsored projects: Office of Management and Budget Circular A- 2. OMB Circular A- 2. Cost Principles for Educational Institutions, provides cost principle requirements for determining costs applicable to research and development, training and other sponsored projects performed by colleges and universities under grants, contracts and other sponsored agreements with the federal government. OMB Circular A- 2. Cost Accounting Standards are formal statements issued by the CAS Board and incorporated into A- 2. OMB Circular A- 2. The objectives of CAS are to increase the uniformity and consistency of cost accounting practices, in like circumstances, among colleges and universities. The University is subject to a total of four different CAS standards outlined in OMB Circular A- 2. Appendix A of Circular A- 2. CAS standards can be referenced at http: //www. An educational institution is required to file a CAS Disclosure Statement with its cognizant federal administrative agency if it receives federally sponsored agreements totaling $2. Administrative responsibility for the Cost Accounting Standards Disclosure Statement at the University resides with Cost Accounting. Questions regarding the University’s Cost Accounting Standards Disclosure Statement can be directed to Cost Accounting. Office of Management and Budget Circular A- 1. Office of Management and Budget Circular A- 1. Uniform Administrative Requirements for Grants and Agreements With Institutions of Higher Education, Hospitals, and Other Non- Profit Organizations, establishes uniform and consistent administrative requirements for federal grants and agreements awarded to institutions of higher education, hospitals, and other non- profit organizations. OMB Circular A- 2. OMB Circular A- 1. The GPS incorporates the cost principles contained in OMB Circular A- 2. The GPS also requires grantees to have systems, policies and procedures in place that ensure proper control and compliance with respect to grant activities and funds they manage. The AAG also incorporates the cost principles contained in OMB Circular A- 2. The AAG also requires grantees to have systems policies and procedures in place that ensure proper control and compliance with respect to grant activities and funds they manage. The NSF Award and Administration Guide can be referenced at http: //www. The HHS GPS incorporates the cost principles contained in OMB Circular A- 2. The GPS also requires grantees to have systems policies and procedures in place that ensure proper control and compliance with respect to grant activities and funds they manage. The University’s annual A- 1. The purpose of the A- 1. In addition, the University’s sponsored projects are subject to program or grant specific audits by federal, state and local awarding agencies and their associated audit functions. Finally, the University’s Internal Audit Department regularly performs financial and operational audits of schools, programs and grants and contracts for internal control and compliance with federal regulations. Cost Accounting vs Financial Accounting. Financial Depreciation, Cost Accounting Introduction, Cost Advantages, Cost vs. Financial Accounting, Cost Classification, Elements of Cost, Cost.
University Policies. The Financial Compliance for Research department enforces the following University policies to ensure that the University meets federal financial compliance requirements for sponsored programs. Rights, Roles and Responsibilities of Sponsored Research Investigators. This policy establishes the roles, rights, and responsibilities of faculty investigators in the management of sponsored research projects, the protection of the academic and research integrity of such projects, and the resolution of conflicts with colleagues and administrative supervisors. The intent of the financial guidelines is to assist in incorporating the requirements of OMB Circular A- 2. University. A brief description of each financial guideline follows. Accounting For Sponsored Projects vs. A discussion of how to identify and account for cost centers is included as part of this web site under Cost Center Models and in this guideline at http: //www. A discussion of cost sharing requirements is included in this guideline at http: //www. Requirements for recording cost transfers on the financial accounting records of the University are explained at http: //www. Direct Charging Practices. OMB Circular A- 2. Cost Accounting Standards require the University to consistently account for direct and indirect costs across all sponsors. A discussion of how to distinguish between direct vs. Financial responsibilities at the University are outlined in this guideline at http: //www. These requirements are discussed at: http: //www. Review of Financial Management and Cost Accounting Principles. Financial Analyst Director of Development.
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