Extramural Accounting Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z List All Terms

Term	Definition
Fabrication	Inventorial equipment physically constructed by a University activity or department. Documentation instructions for completing a fabrication are available in the Fabrication Request online reference manual.
Facilities and Administrative (F&A) Costs	Indirect Costs
Fair Market Value	Price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell, and both having a reasonable knowledge of all relevant facts.
Federal Acquisition Regulation (FAR)	The FAR is the primary regulation for use by all Federal Executive agencies in their acquisition of supplies and services with appropriated funds. It is issued within applicable laws under the joint authorities of the Administrator of General Services, the Secretary of Defense, and the Administrator for the National Aeronautics and Space Administration, under the broad policy guidelines of the Administrator, Office of Federal Procurement Policy, Office of Management and Budget.
Federal Cash Transactions Report (FCTR)	Report used by the Federal awarding agency to monitor cash advances to recipients and to obtain disbursement information for each agreement with the recipients.
Federal Demonstration Partnership (FDP)	The Federal Demonstration Partnership (FDP) is a cooperative initiative among federal agencies and institutional recipients of federal funds. It was established to increase research productivity by streamlining the administrative process and minimizing the administrative burden on principal investigators while maintaining effective stewardship of federal funds. This program was formerly known as the Federal Demonstration Project.
Federal Register	The Federal Register is a daily periodical that provides a uniform system for publishing regulations, notices of funding availability, and legal notices issued by federal agencies.
Fixed Price Contract	Contract where awarding agency pays a predetermined amount rather than reimbursing actual expenditures.
Fund Number	A Fund is a discrete monetary source. These funding sources are allocated for the purpose of meeting certain programmatic or contractual objectives and often have associated regulations, restrictions or limitations that require separate budgeting and accounting.

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