In financial accounting and taxes, attributing expenses to the correct category isn’t just a tip or guideline; it’s a requirement when filing IRS forms, requesting grant funds, or reporting to ...

Direct costs -- such as labor and parts -- are those linked to the provision of services or the manufacturing of goods. Look for these costs in the "cost of goods sold" section of a statement of ...

Direct costs and variable costs are similar in nature and are both types of costs involved in production. Direct costs are expenses that can be directly traced to a product, while variable costs vary ...

The direct cost margin is calculated by taking the difference between the revenue generated by the sale of goods or services and the sum of all direct costs associated with the production of those ...

FASB Accounting Standards Codification (ASC) Topic 842, Leases, issued in February 2016, marked a significant overhaul in the financial reporting of long-term leases. Its adoption created many ...

Federal regulations require that similar costs be treated consistently as either direct costs or indirect costs, in like circumstances. This regulation imposes a requirement on the University to ...

The disclosure statement is called the DS2 and the format is prescribed by Uniform Guidance. It discloses our cost accounting principles and how we account for our indirect and direct cost pools. It ...