EU FUNDING OPPORTUNITIES AND PROJECT MANAGEMENT TIPS

The purpose of this document is to help beneficiaries understand and interpret the financial and legal provisions of the grant agreement (GA) they have signed. To this end, the text in the Financial Guidelines seeks to explain the definition of the technical vocabulary used whilst providing the reader with practical advices.
This guide concentrates mainly on the different aspects of costs incurred during the action of the GA, types of costs, i.e. eligible versus ineligible costs, and the different eligible cost categories, whilst providing explanation for each of the aspects mentioned above. The objective is to provide the beneficiaries with a reference to the different situations that may arise when dealing with costs allocation.

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GUIDELINES TO FINANCIAL REPORTING for Coordinators and Beneficiaries of the COSME Grant Agreements (2014-2020)

Tips:

Funding is based on cost-sharing grant agreements. This means that for each project, the EASME contributes up to a certain percentage of the total eligible costs incurred by the beneficiaries for the implementation of the action.

The direct costs are identifiable as specific costs directly linked to performance of the action and belong exclusively to the cost categories defined below in the heading "Eligible Direct Costs".
The indirect costs incurred in carrying out an action are eligible, if they are declared on the basis of the flat rate of 7% of the eligible direct costs of the GA, from which financial support to Third Parties is excluded. The indirect costs do not need to be supported by accounting documents.