The North Carolina Accounting System (NCAS) is the primary accounting system for most state agencies. OSC Support Services Center 919-707-0795 866-292-4314 Hours: Monday-Friday 8:00 AM - 4:00 PM Email. Established by Chapter 93-12 of the North Carolina General Statutes, the North Carolina State Board of Certified Public Accountant (CPA) Examiners (the Board) is an independent, self-funded occupational licensing board that grants certificates of qualification as certified public accountants (CPAs) to those individuals who meet the statutory requirements. A bachelor’s degree in accounting from a regionally accredited college or university; A bachelor's degree in any major provided the student has completed seven prerequisite courses. Students are admitted to the program twice a year, for Summer and Fall semesters.
The proper classification (direct vs. indirect) of any charge should be determined based on several factors:
Review
A thorough review of all regulations, policies and procedures applicable to the project. This includes internal or institutional regulations policies and procedures (e.g., NC State’s Disclosure Statement and the it Policies, Rules and Regulations) as well as any external regulations, policies or procedures (e.g., Uniform Guidance; other relevant federal circulars; sponsor terms and conditions; and specific award terms).
Judgment
Based on the review of specific facts and circumstances, a judgment is made by the institution’s appropriate personnel as to the proper allocation (direct vs. indirect).
Justification
Appropriate level of justification submitted to Contracts and Grants and the sponsor agency in the event that an unlike circumstance arises.
Agency Approval
There are some cost objectives that can be charged as either direct or indirect costs depending on the facts and circumstances of the individual project. The following questions should be asked to determine if it can be charged as direct cost:
- Can the cost meet the definition of a direct cost? Can the cost be specifically identified with a project with relative ease and with a high degree of accuracy and allowed by all terms and conditions governing a particular award?
- How does this benefit the project?
- Can the project be completed without this?
- Will any other project or group on campus benefit from this after the end of this project?
Cost Accounting Standards require consistent treatment of costs in “like circumstances”. Consequently “unlike circumstances” must be demonstrated/justified if a cost will be budgeted, charged and reported inconsistently. The following arguments cannot be used in and of themselves to demonstrate “unlike circumstances”:
- Sponsor approval of the allocation of a particular cost without proper review by the institution.
- Insufficient indirect costs money returned to support the projects
- Sponsor limits or will not pay indirect costs
- Sponsor is willing to pay for the cost as a direct charge
- Department or college has no funds to pay for an expense
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Organization Summary
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The Office of Finance and Administration (OFA) is an active part of university life and student success, managing business operations across all aspects of the university. OFA oversees NC State’s operating budget, leads emergency and safety operations, supervises university police, runs transportation including bus lines and parking, builds and maintains physical facilities, directs construction and renovation projects, manages NC State’s financial and HR processes, develops the university’s real estate portfolio, and directly serves students through student centers, the bookstore and residential dining. We are committed to our Principles of Work: employee engagement, customer service and resource stewardship.
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Our Vision
Nc State Accounting Codes
OFA leads the business operations of the university, stewards financial assets, optimizes physical resources and invests in human capital, working with university constituencies to position NC State as a premier land grant university and world-class institution.