Cost Accounting Overview
CGI Advantage Financial Cost Accounting is designed to meet governmental Cost Accounting requirements related to tracking and controlling internal and external funding sources. CGI Advantage Financial provides all of the functionality necessary for the management and prompt reimbursement of grant and project costs.
Cost Accounting is the tracking of accounting events that are associated with a special purpose. The purpose could be defined by funding received from an outside entity (for example, a Federal award or third-party award) or the purpose could be grouping costs together for internally defined reasons (for example, for a special spending initiative or specific costs incurred to provide a service). In many cases, Cost Accounting activity is tracked for purposes of billing an outside entity to reclaim some or all of the costs.
Key functions and featuresKey functions and features
Project Management to meet Federal Highway Administration (FHWA) and other general project requirements
Grant Management to handle Federal and non-federal funding sources
Internal Governmental Billing (tracking and billing of internal customer type work)
Identification of Funding Participation through the use of Front-end Split and Back-end Split processes
Reimbursement/CMIA Functions and Processes
Budget Establishment and Maintenance for Cost Accounting
Reimbursable Budget Structures
Periodic Tracking and Reporting
Overhead Rate Process
Cost Allocation Process (Documentation can be found in the Cost Allocation User Guide)
Interaction with other areasInteraction with other areas
Cost Accounting overlaps with many other areas of CGI Advantage because the Cost Accounting chart of accounts are universal:
Accounts Payable
Accounts Receivable
Budget Control
Budget Preparation
Fixed Assets
General Accounting
Grant Lifecycle Management
Human Resource Management
Internal Costing
Procurement
