To determine which costs are allowable for charging to a federal assistance program, accountants and auditors refer to the GASB cost circular.

Question

Quizplus · Accepted Answer

The GASB cost circular is not applicable for federal assistance programs. Instead, the federal government has specific regulations and guidance, such as the Office of Management and Budget (OMB) Uniform Guidance, which outlines allowable costs for federal grant and cooperative agreements.

To Determine Which Costs Are Allowable for Charging to a Federal