COST ACCOUNTING STANDARDS
Q: We've all heard the term "CAS" and "Cost Accounting Standards", but what does it mean?
A: The guiding document that govern's UF's Cost Accounting Standards policy is the Office of Management and Budget's Circular A-21. Essentially, it requires....
- consistency in estimating, accumulating and reporting costs
- consistency in allocating costs incurred for the same purpose
- proper treatment of unallowable costs
- consistency in the accounting periods used for cost accounting
Q: What expenditures are considered direct costs and what are considered indirect costs?
A: The university has established a Policy for Charging Costs Directly or Indirectly to Sponsored Projects that addresses this question. They have also developed a list of PS Account Codes NOT to be Direct Charged to Federal Awards along with a list of PS Employee Job Codes NOT to be Direct Charged to Federal Awards which can be very helpful to administrative and fiscal personnel who process expenditures for sponsored projects.
Q: What if my research requires that I purchase or use items considered to be CAS violations?
A: You can request an exception to the University's CAS policy by submitting a request to RGP. Here are two helpful links: 1) a Processing Description which gives helpful information about CAS policy and responsibilities and 2) the CAS Exception Form which must be signed by the PI, his/her chair, and the dean before it can be sent to RGP.
For further information, please visit Contracts and Grants website on UF Cost Accounting Policies.
