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business with a Parent Company and Subsidiary

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#3942

business with a Parent Company and Subsidiary 1 Year, 6 Months ago
If you have a business with a Parent Company and Subsidiary and it is the subsidiary that has a grant is it the Consolidated Company the Parent or the subisidiary that is required to have the accounting system in place to administor the grant?

ceciliamp

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#4004

Re: business with a Parent Company and Subsidiary 1 Year, 6 Months ago
This question is a bit complex. The company (separate legal entity) that receives the grant is the one that is required to have an adequate accounting system. However, if any costs are allocated by the parent to the subsidiary company and the subsidiary company wishes to claim those costs, then the parent must have allocated costs in an acceptable way that conforms to Federal regulations.

maubelamide

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