On April 8, 2020, the Department of Defense (“DoD”) issued a Class Deviation authorizing contracting officers to use a new cost principle – DFARS 231.205-79, CARES Act Section 3610 Implementation – to ...

The purpose of this policy is to identify the principles used to determine whether costs incurred at Western Michigan University are allowable or unallowable as direct costs or as facilities and ...

Cost accounting provides the management of a company with the information it needs to operate the business effectively. It differs from financial accounting in its focus on principles of costing, ...

There are four basic concepts that guide the process of developing sponsored project budgets as defined in 2 CFR 200, Uniform Guidance. These four concepts are used to determine if costs may be ...

Any small business that publishes financial statements must prepare those statements in accordance with generally accepted accounting principles, or GAAP. GAAP includes accounting principles and ...

Knowing GAAP will help you understand your accountant's decision-making process better. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

Please see the Cost Principles Policy Statement for additional information about the policy including sections with additional information on each FAQ set below. Receipts or copies of receipts for all ...