This circular is divided into ten sections: This section outlines the principles and policies that must be followed regarding the accounting principles, arrangements, and exemptions for any training or work produced under the contract as agreed upon by the Federal Government.
This section outlines the responsibility necessitated when determining and justifying costs incurred throughout a project, and what is to be expected in terms of accountability by the financial authority(ies) involved.
This section truncates the identification, assignment, determination, and application of cost rates when applied to any work that does not exceed US $10 Million in a single fiscal year.
These simplified procedures may be used to account for the total cost of a project or work produced under the contract.
This is a short form that requires the named institution, signature, name of official, title, and date, that when collected certifies that all costs have been accounted for and are within the cost guidelines, under penalty of perjury.