We are delighted to share the success of our recent online training course on “Financial Administration & Auditing Preparation for EU Funded Projects,” conducted on December 14th and 15th, 2023, via Zoom. This course attracted a diverse group of professionals from public universities, research institutes, and private sector organizations, all eager to master the financial management required for EC-funded initiatives.
The two-day session focused on critical aspects of financial administration, enhancing participants’ understanding of essential financial concepts and compliance requirements.
Key Highlights from the Training:
- Personnel Cost Calculations: The centerpiece of the course was a detailed examination of how to compute personnel costs. Our expert presented a new, practical Excel tool filled with examples to simplify these calculations for the attendees.
- Time Reporting Alignment: A significant focus was placed on aligning time reporting across H2020 and Horizon Europe. This included a comparison of hourly versus daily rate calculations.
- Hourly and Daily Rate Determination: The course provided step-by-step guidance on calculating hourly rates for H2020 projects and daily rates for Horizon Europe projects, ensuring participants could accurately manage project finances.
- Differentiating Project Costs: Extensive discussions helped clarify the distinctions between personnel costs, subcontracting, and purchasing services, with a focus on handling costs associated with freelancers.
- Project Coordinator Responsibilities: Clarification on the role and duties of project coordinators was a key area of interest among participants.
- Additional vs. Basic Remuneration: The training addressed complex topics such as entitlements to additional remuneration versus basic remuneration, providing clear calculation methods.
- Managing Travel Expenses: The course also covered the management of travel expenses, detailing the documentation required and criteria for eligible travel costs under the action and unit cost methods.
Our expert facilitator created a vibrant and interactive learning environment, encouraging participants to engage deeply with the content and share their real-life challenges and solutions.
This course underscores the European Academy’s dedication to providing relevant, engaging, and actionable training in EU policy and funding. We remain committed to equipping professionals with the knowledge and skills necessary to excel in managing EC-funded projects.
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