New Uniform Guidance: Cost Principles for Nonprofits and Governments

New Uniform Guidance: Cost Principles for Nonprofits and Governments
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Price: $59.00
Credits: 8
Prerequisite: N/A
Level: N/A
Model: LH12
Average Rating: Not Rated
Fields of study: Accounting (Governmental)
Format: PDF

New Uniform Guidance: Cost Principles for Non-Profits and Governments

Truth is stranger than fiction when it comes to the creative way that grantees use their grant resources. Let Sefton and Bill, auditors with over 70 combined years of federal, state, and municipal audit experience guide you through the dos and don’ts of spending federal grant dollars.


Auditors of federal programs use the cost principles as criteria to evaluate compliance with contract provisions. The cost principles apply to almost all federal grant programs and contain specific prohibitions against entertainment and some legal fees. The cost principles also advise grantees on how to document payroll expenditures.

After finishing the course, participants will be able to:

·         Differentiate between principles applicable to state and local governments and nonprofits

·         Define key government regulators and their related acronyms

·         Sequence the four layers of rules governing grants

·         Judge whether an item of cost is allowable per the cross-cutting principles

·         Detect which allowability principle has been violated

·         Distinguish between an indirect cost and a direct cost

·         Judge which professional service costs are allowable under a federal award

·         Distinguish between idle capacity and idle facilities and related allowable costs

·         Identify under which conditions morale costs, fines and penalties, insurance, interest, and membership costs are allowable costs

·         Distinguish between allowable and unallowable pre-award costs, taxes, and travel costs


Program Level: Basic

172 pages of text

Who Should Attend: Grantee and pass-through organizations, federal grant personnel, and auditors of federal grant programs

Recommended CPE Credits: 7 hours


This course qualifies for Yellow Book CPE credit.

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