We are proud to announce another successful online training event, held on September 7th and 8th, 2023, via Zoom. This course on Financial Administration & Auditing Preparation for E.C. Funded Projects brought together a diverse group of participants from public universities, institutes, and private research entities. The training provided a deep dive into the intricacies of personnel cost calculations and various other essential aspects of financial administration.

The two-day course revolved around key areas of interest and concern for our participants. Some highlights from the training include:

1. Personnel Cost Calculations: The core focus of the course, participants delved into the complexities of calculating personnel costs. To aid in their understanding, our expert introduced a new Excel file with practical examples, making the concepts more accessible. 
2. Aligning Time Reporting: Participants were particularly interested in aligning time reporting for individuals who split their time between H2020 and Horizon Europe projects. This involved exploring hourly rate-based calculations versus daily rate-based calculations.
3. Calculating Hourly and Daily Rates: The course provided detailed examples of how to calculate the hourly rate for H2020 projects and the daily rate for Horizon Europe projects, ensuring that participants left the course with a solid grasp of these crucial concepts.
4. Challenges in Distinguishing Personnel, Subcontracting, and Service Purchase: The intricacies of differentiating between personnel, subcontracting, and service purchase, especially concerning freelancers, were discussed at length.
5. Coordinator’s Role: Participants sought clarification on the responsibilities and role of a project coordinator.
6. Additional Remuneration and Basic Remuneration: The course explored the calculation and entitlement to “additional remuneration,” distinguishing it from “basic remuneration.”
7. Travel Costs: Questions revolved around covering travel expenses, including the necessary documents to justify such costs and determining which travel is eligible. The action costs and unit costs methods were also scrutinized.

Our expert trainer fostered a dynamic learning environment, with participants actively sharing their challenges and seeking solutions. They took advantage of the opportunity to clarify their understanding and discuss real-life scenarios. 

This course stands as a testament to European Academy’s commitment to delivering relevant, engaging, and practical training in the field of EU Policy and Funding. We are commited to continue offering our services for professionals to expand their knowledge and skills, and we look forward to hosting future courses that empower participants to excel in their respective fields. Stay tuned for all training opportunities offered by European Academy by clicking here!