Guidelines for grant accounting and reporting are contained within the State and Local Government Audit and Accounting Guide, issued by the AICPA.

Question

Quizplus · Accepted Answer

The guidelines for grant accounting and reporting are primarily contained within the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, commonly known as the Uniform Guidance, issued by the Office of Management and Budget (OMB), not the AICPA.

Guidelines for Grant Accounting and Reporting Are Contained Within the State