FASB Accounting Standards Codification (ASC) Topic 842, Leases, issued in February 2016, marked a significant overhaul in the financial reporting of long-term leases. Its adoption created many ...

Direct labor rates are the labor costs directly resulting in the production of a product or delivery of a service. These costs include wages as well as payroll taxes, insurance, retirement matches, ...

In financial accounting and taxes, attributing expenses to the correct category isn’t just a tip or guideline; it’s a requirement when filing IRS forms, requesting grant funds, or reporting to ...

Welcome back to the Cost Corner, where we provide practical insight into the complex cost and pricing requirements that apply to Government contractors. This is the second article in a multi-part ...

Federal regulations require that similar costs be treated consistently as either direct costs or indirect costs, in like circumstances. This regulation imposes a requirement on the University to ...

The direct cost margin is calculated by taking the difference between the revenue generated by the sale of goods or services and the sum of all direct costs associated with the production of those ...

This instruction identifies specific items of costs that are either allowable or unallowable on sponsored accounts and specifies which allowable costs are treated as direct costs and which are treated ...

This procedural statement governs the consistent treatment of the allocation of direct costs and indirect (F&A) costs charged to federal and non-federal grants, contracts, and other sponsored programs ...