Governmental Accounting: Super Circular - Cost Accounting, Administrative and Audit Aspects (Currently Unavailable)

Author: Eric S. Berman

The OMB's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards is the most significant change to the entire federal grant lifecycle in decades. The so-called "Super" or "Omni" Circular changes the ways any entity that awards federal funds applies for awards, receives awards, spends awards and audits awards, almost in their entirety.

This CCH Learning Center course, Governmental Accounting: “Super Circular” - Cost Accounting, Administrative and Audit Aspects, discusses how these changes will affect state and local governments, not-for-profits, government contractors, and auditors. It reviews the changes, including increased audit thresholds, increased competitiveness in the grant application process, updated administrative requirements, allowable cost changes, and implementation issues.

Publication Date: February 2015

Designed For
CPAs that assist in government accounting operations.

Topics Covered

• Governmental accounting
• Super Circular
• Office of Management and Budget's "Super" or "Omni" Circular
• Audit requirements
• Cost principles

Learning Objectives

• Understand the basic requirements of the new OMB super/omni grant circular as it applies to grantees, subgrantees, and auditors
• Name the preaward requirements for grantees and perspective grantees
• Identify the administrative requirements during the grant period, cost accounting requirements and audit requirements

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Accounting (Governmental) (2 hours)

Program Prerequisites
Basic understanding of governmental accounting issues.

Advance Preparation
None