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§ 37.625 What cost principles or standards do I require for for-profit participants?
(a) Non-profit contractors must comply with the cost principles in OMB Circular A-122.
(b) For-profit contractors and sub contractors must comply with the cost principles in the FAR (48 CFR part 31).
(1) The Office of Management and Budget (OMB) issued guidance on Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards in 2 CFR part 200.
For purposes of the cost principles, this activity may be considered a major function even though an institution's accounting treatment may include it in the instruction function.
§ 37.635 What cost principles do I require a nonprofit participant to use? § 37.640 Must I include a provision for audits of for-profit participants?
Similar(26)
Thorsen et al. [44] also provide a theoretical justification for such an S-shaped curve, based on the idea that short distances give random commuting flows, whereas long distances are governed by a minimum cost principle.
The OMB issues a Cost Principle Circular for each category.
The Opportunity Cost principle is applied in farm cost accounting.
In accordance with the cost principle of accounting, assets are always listed in the general ledger at cost; this helps create consistency in reporting standards.
Using the example above, after 3 years, the asset's value will still be recorded on the balance sheet as $10,000 (in accordance with the Cost Principle).
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