Determination and Application of F&A Cost Rate(s)
All F&A costs must be determined and negotiated pertaining to the scope of the project, and there are limitations and procedures outlined for the accounting of these cost rates.
Read more about this topic: OMB Circular A-21
Famous quotes containing the words application and/or cost:
“It is known that Whistler when asked how long it took him to paint one of his “nocturnes” answered: “All of my life.” With the same rigor he could have said that all of the centuries that preceded the moment when he painted were necessary. From that correct application of the law of causality it follows that the slightest event presupposes the inconceivable universe and, conversely, that the universe needs even the slightest of events.”
—Jorge Luis Borges (1899–1986)
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—Henry David Thoreau (1817–1862)