As of December 26, 2014, 2 CFR 200 (Uniform Guidance) replaces the administrative, accounting, audit rules and principles currently included in the OMB Circulars, including A-21, A-110 and A-133. Your ...

This approach follows the principle that financial events should ... before the cash transaction has occurred. In accrual accounting, the cost of long-term assets is allocated over their useful ...