Financial aspects of FP7contracts-Webinar, E-learning Method

Day 1: 2h

Understand the entire cycle of your FP7 project

o Understand clearly the main financial principles of FP7 contracts: co-financing, non-profit, etc.
• Understand the financial provisions of your FP7 contract

The cost reimbursement system :

o Financial and technical responsibility
o Guarantee fund
o Actual costs and lump sum/flat rate
o Beneficiaries, third parties, special provisions
o Total budget, eligible/non eligible costs, maximal EC contribution, etc.
o Funding rates per funding schemes, per type of entities and per activity

Day 2: 2h

Understand the financial provisions of your FP7 contract

The cost categories :


o Direct costs : personnal, equipment, travel, consumables, subcontracting, tenders, etc.
Focus on the staff costs: person-months, productive hours, hourly rate, time sheets, etc.
o Indirect costs (Overheads) : how to understand the different methods (actual costs, simplified method, certified methodology, 20% flat rate, 60% flat rate)
o Receipts, Interests

Day 3: 2h

Reporting


o Reporting period
o Form C
o Certificate on Financial Statement
o Financial aspects of the “Activity Report”
o The EC online reporting system: Force, etc.

Day 4: 2h

Practical case : How to prepare your budget?


o Activity based costing
o Example of payment schedule: Pre-financing, intermediate payments, final payment, financial audit, etc.
o Tips and best practices

Day 5: 2h

Practical case: How to manage your budget as a coordinator and as a partner?


o Budgeted costs versus actual costs
o Annual budget update
o Financial scoreboard
o Distribution of the EC contribution
o Internal organization to comply with the EC rules
o Financial audits
o Tips and best practices