5 Cost Principles Direct Costs Costs that can be identified with a final cost objective Costs that can be identified with a final cost objective Indirect Costs Costs incurred for common or joint objectives Costs incurred for common or joint objectives Cost Allocation Plan Process of assigning the cost of an item shared by two or more programs Process of assigning the cost of an item shared by two or more programs Cost Classification Allowable: salaries, travel Allowable: salaries, travel Unallowable: fines, penalties, donations Unallowable: fines, penalties, donations Allowable with conditions: advertising Allowable with conditions: advertising Allowable with prior approval: equipment Allowable with prior approval: equipment
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