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Basics of The Cost Accounting Standards (CAS), OMB Circular A-21, and Cost Principles
Basics of The Cost Accounting Standards (CAS), OMB Circular A-21, and Cost Principles
Basics of the
Cost Accounting Standards (CAS),
OMB Circular A-21, and
Cost Principles
March 28, 2006
• Cost Principles
• Exceptions
• Questions
Cost Accounting Standards (CAS)
– Measurement of costs
• Cost Principles
• Exceptions
• Questions
OMB Circular A-21
• Cost Principles
• Exceptions
• Questions
Cost Principles
Necessary Reasonable
Allocable
Allowable
Consistently treated
Permissible
AND/OR
• Cost Principles
• Exceptions
• Questions
Allowable vs. Unallowable Costs
• Postage
Including U.S. Postal Service, Federal Express, UPS
• Office Supplies
Costs Normally Treated as Indirect Costs (F&A)
• Subscriptions, Books, and Periodicals
• Cost Principles
• Exceptions
• Questions
Is a Cost Eligible for a CAS Exception?
• A cost normally treated by UW-Madison as an F&A cost
may be appropriate as a direct cost on a Federally
sponsored project if:
• Campus contacts/experts:
• Website references
A-21: http://www.whitehouse.gov/omb/grants/grants_circulars.html
RSP: http://www.rsp.wisc.edu
Slides: http://www.rsp.wisc.edu/training