define allowable cost - EAS

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  1. Definition: Allowable costs are expenses that are included in a contracted service or product. Usually allowable costs are present in contracts between two companies. Think about allowable costs begs the question, are there unallowable costs?
    www.myaccountingcourse.com/accounting-dictionary/allowable-costs
    www.myaccountingcourse.com/accounting-dictionary/allowable-costs
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    What is unallowable cost?
    Unallowable Costs, FAR 31.2. The government as a matter of law and regulation will not reimburse contractors for certain types of costs it may incur. These costs are generally referred to as Unallowable Costs. Also, the government will not knowingly negotiate a fixed price contract based on cost or pricing data including any unallowable costs.
    research.ncsu.edu/administration/compliance/fiscal-com…
    What is federal allowable cost?
    “Allowable Costs” refers to items of cost, that in general, are costs that can be funded with federal grant dollars as long as the cost fits within a framework of responsible stewardship of public funds. Wisconsin Federal Funding Conference February 2019 2 Overarching Federal Rules Subpart E – Cost Principles Law: 2 CFR Part 200
    www.cohenseglias.com/contracting-database/allowable-c…
    What are allocable costs?
    Allocable cost. Allocable costs are costs which are incurred specifically for the attainment of the objectiveof the grant. Reasonable cost. Defined as a cost which is generally recognized as ordinary and necessary and would be incurred by a prudent person in the conduct of normal business.
    www.washington.edu/research/glossary/allocable-costs/
    What is allowable expenditure?
    Allowable Expenses include others to whom you pay salaries, wages, bonuses, pensions, benefits or other staff costs, including agency fees, subcontract labour costs, and employer's NICs. Disallowable Expenses include your own wages and drawings, pension payments, NICs, or any payments made for non-business work.
    www.revenue.ie/en/tax-professionals/tdm/income-tax-cap…
  3. https://www.accountingtools.com/articles/allowable-costs

    WebAllowable costs are those expenses specified in a contract that can be billed to the customer. For example, a contract to develop a customized lathe allows for the reimbursement of direct materials, direct labor, and a specific overhead charge as …

  4. https://www.myaccountingcourse.com/accounting-dictionary/allowable-costs

    WebDefinition: Allowable costs are expenses that are included in a contracted service or product. Usually allowable costs are present in contracts between two companies. Think …

  5. https://www.lawinsider.com/dictionary/allowable-costs

    WebAllowable Costs means the amounts chargeable to a capital account, including, but not limited to: (A) Construction or rehabilitation costs; (B) commissioning costs; (C) …

  6. https://www.bankrate.com/glossary/a/allowable-cost

    WebAllowable costs are expenses charged to a sponsor and recognized as a fundamental part of a contract between two entities. Often used for reimbursement for services …

  7. https://www.insuranceopedia.com/definition/5452

    WebInsuranceopedia Explains Allowable Cost. To keep their policies affordable and reduce the risk of issuing them, health insurance providers will typically limit the types of …

  8. https://www.lawinsider.com/dictionary/allowable-cost

    WebAllowable Cost means costs that are allowable under 2 CFR Part 225, “Cost Principles for States, Local Governments, and Indian Tribes”, 2 CFR Part 220, “Cost Principles …

  9. https://www.umsystem.edu/ums/policies/finance/allowable_costs

    WebThe OMB Uniform Guidance (§200.420 through §200.475) lists costs that are Allowable and not Allowable as an expense on a Federal award. Many sponsors have policies that …

  10. https://www.law.cornell.edu/cfr/text/2/200.405

    WebIf a cost benefits two or more projects or activities in proportions that cannot be determined because of the interrelationship of the work involved, then, notwithstanding paragraph (c) …

  11. https://info.winvale.com/blog/allowable-and...

    WebIf you have come across the terms “allowable” and “unallowable” costs in relation to your GSA Schedule contract but you have no idea what they mean, you have come to

  12. https://linclocal.org/2019/04/01/what-are-allowable-costs-on-my-usaid-grant

    WebThe Allowable Cost clause tells us a few very important things: 1) what we can use our grant money for, and 2) what we cannot use our grant money for. This blog won’t address …

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