Get the free INDIRECT COST ALLOCATION PLAN - loudoun.gov

Loudoun County, Virginia Requests FOR PROPOSALINDIRECT COST ALLOCATION PLAN ACCEPTANCE DATE:Prior to 4:00 p.m., March 26, 2018, Atomic Time RFP NUMBER:RFQ 7757ACCEPTANCEDepartment of Finance and ProcurementPLACE:Division

How to fill out indirect cost allocation plan

How to fill out indirect cost allocation plan

1. To fill out an indirect cost allocation plan, follow these steps:
2. Identify all the indirect costs incurred by your organization.
3. Determine the base or allocation measure for each indirect cost. This could be the total cost of a specific department or a percentage of the total cost of the organization.
4. Allocate the indirect costs to the appropriate cost objects or activities. Cost objects could be programs, projects, grants, or contracts.
5. Ensure that the allocation method used is reasonable and consistent with the accounting principles and regulations.
6. Document the process and calculations involved in the indirect cost allocation plan.
7. Review and update the plan regularly to reflect any changes in costs or allocation methods.
8. Submit the completed indirect cost allocation plan to the relevant authorities or stakeholders as required.

Who needs indirect cost allocation plan?

1. Any organization that incurs indirect costs and wants to accurately allocate them to cost objects or activities needs an indirect cost allocation plan. This includes non-profit organizations, government agencies, research institutions, and businesses that receive federal funding or have contracts with specific cost allocation requirements.

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What is indirect cost allocation plan?

The indirect cost allocation plan is a document that outlines how indirect costs are distributed among different programs or departments within an organization.

Who is required to file indirect cost allocation plan?

Non-profit organizations that receive federal funding are typically required to file an indirect cost allocation plan.

How to fill out indirect cost allocation plan?

To fill out the indirect cost allocation plan, organizations need to track and allocate indirect costs to specific programs or departments based on a predetermined methodology.

What is the purpose of indirect cost allocation plan?

The purpose of the indirect cost allocation plan is to ensure that indirect costs are distributed fairly and accurately among various programs or departments.

What information must be reported on indirect cost allocation plan?

The indirect cost allocation plan must include details of the methodology used to allocate indirect costs, as well as the specific amounts allocated to each program or department.