A CFS is typically located in proximity to an ocean, port, or airport, where cargo containers are transported to and from. According to Article 1.2 of Annex 5 the Beneficiary/Linked Third Party is, amongst others, responsible for the completeness and accuracy of the information provided to enable the Auditor to carry out the Procedures and must provide the Auditor with a written representation letter supporting his statements. Over the years, we have experienced a continuous growth, evidenced by impressive results and challenges. Its purpose is to enable the European Commission or grant awarding agency to: Submitting a CoMUC methodology certificate is optional (see Article 18.1.2 of the Grant Agreement). check that you have used a suitable unit cost accounting methodology (a methodology is suitable if it ensures that direct personnel costs declared as unit costs comply with the Article 6.2, point A of the Grant Agreement). Note that costs previously audited by the Commission/Agency do not have to be covered again by the Certificate on the Financial Statements (CFS). You must notify the Commission of changes to the methodology you use. Welkom bij CFS Corporate Finance & Strategy BV CFS is aktief op het gebied van ondernemingsstrategie, fusie en overname, samenwerking, verkoop van het gehele bedrijf of bedrijfsonderdelen, management-buy-out (MBO), management-buy-in (MBI), bedrijfsfinanciering, waardebepaling, corporate restructuring en business development. The Business & Finance Acronym /Abbreviation/Slang CFS means CORPORATE FINANCIAL SYSTEM. What does Business & Finance CFS stand for? The costs of producing a CoMUC methodology certificate are eligible as long as the methodology is approved by the Commission and related costs fulfil the eligibility conditions. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. As a beneficiary of H2020 funding, you must keep supporting documents that may be required: The CoMUC is a factual report produced by an independent auditor. If an internal link led you here, you may wish to change the link to point directly to the intended article. For more details, see Article 18.1.2 and Annex 6 of the Grant Agreement for multi-beneficiary grants or mono-beneficiary grants. According to Article 1.2 of Annex 6 the Beneficiary/Linked Third Party is, amongst others, responsible for endorsing or refuting the statements indicated in the table that forms part of the report and must provide the Auditor with a signed and dated representation letter. The project coordinator must send the CFSs to the Commission or grant-awarding agency, with the final report, within 60 days of the end of the last reporting period. If the certificate is approved, costs declared in line with this methodology will not be challenged subsequently, unless the beneficiaries have concealed information for the purpose of the approval. Disambiguation page providing links to topics that could be referred to by the same search term, Shahjalal University of Science & Technology, Craniofacial Society of Great Britain and Ireland, Safety training certificate (France) (Flight attendant), https://en.wikipedia.org/w/index.php?title=CFS&oldid=986635484, Disambiguation pages with short descriptions, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License, Carrier Frequency Shift, a term used by the British Military to refer to, This page was last edited on 2 November 2020, at 02:16. For any questions about the CoMUC you may contact the Horizon 2020 Helpdesk. You may use this example for the letter of representation related to the CoMUC. As a minimum, one H2020 action should have been started and the data available must give the auditor enough of a basis to carry out the procedures set out in Annex 6. Hop on to get the meaning of CFS. The auditor's independent report of factual findings which includes a table, statements to be confirmed by the beneficiary/third party, all the procedures to be performed by the auditor and, all the standard findings to be confirmed by the auditor. The CFS should be based on the model in Annex 5 to the Grant Agreement and consist of: The costs of producing a CFS are eligible as long as it was mandatory and the related costs fulfil the eligibility conditions. You may also submit a new certificate reflecting the changes. The certificate may be submitted at any time during the implementation of H2020 framework programme via e-mail to the following H2020 Unit Cost Methodology Certification functional mailbox. You may use this example for the letter of representation related to the CFS. Dr Gareth Oelmann from the BMA in Wales gives his expert advice on chronic fatigue syndrome.. standard number of annual hours generally applied by the beneficiary for its personnel in accordance with its usual cost accounting practices (must be at least 90% of the standard annual workable hours). CFS Access Request Form Unlike its predecessor, the new financial system, CFS (Common Financial System) has only one form for access requests. The Commission assesses methodologies against the criteria in Article 6.2, point A of the Grant Agreement and related Annotated Grant Agreement. We have realized that One key element of a successful business lies in efficient and productive teamwork. CFS Container Freight Station. What Makes Us A Leader. For any questions about the CFS, you may contact the Horizon 2020 Helpdesk. The CoMUC methodology certificate must be drafted in accordance with Annex 6 to the Grant Agreement and consist of: You must enclose the annexes requested in the Annex 6 to the grant agreement, notably a brief description of the methodology for calculating personnel costs and of the time recording system in place together with an example of the time record used, a description of any budgeted or estimated elements applied (if any), a summary sheet with the hourly rate for direct personnel and time claimed declared by you and recalculated by the Auditor for each staff member included in the sample (the names do not need to be reported) and a copy of the letter of representation provided to the Auditor (see further information below). The EU contribution involved has thus to be excluded from the calculation of the €325 000 CFS submission threshold. Please read more details on the large research infrastructures in the following documents: The CFS is a factual report produced by an independent auditor or Public Officer. This report must be issued on the auditor's or Public Officer's letterhead, dated, stamped and signed by the auditor/Public Officer. the terms of reference, signed by the beneficiary/linked third party and the auditor/Public Officer. CFS Access Request Form (for Requisitions and Reporting) (PDF) by AcronymAndSlang.com A facility where freight shipments are consolidated or de-consolidated and staged between transport legs. It checks that: Within 60 calendar days from submission of a complete certificate, you will normally receive an answer about the acceptance or rejection of the certificate. The costs of a mandatory CFS can be eligible in the last reporting period only. Chronic fatigue syndrome is real: What to do, Characterization of Polypropylene Green Composites Reinforced by Cellulose Fibers Extracted from Rice Straw, CDC Grand Rounds: chronic fatigue syndrome--advancing research and clinical education, Follow-up: potential mechanisms of autonomic involvement in subgroups of chronic fatigue syndrome patients, Erratum to: timed loaded standing in female chronic fatigue syndrome compared with other populations, CI (Counterintelligence) Force Protection Source. Certificate on Financial Statements (CFS) - for beneficiaries (and linked third parties) requesting total of €325 000 or more as reimbursement of actual costs and unit costs; Certificate on the methodology for unit cost (CoMUC) The CoMUC is a factual report produced by an independent auditor. Certificate on the Methodology for Personnel and Indirect Costs (CoM): Certificate on the Methodology for Average Personnel Costs (CoMAv): the auditor's independent report of factual findings. Doing so will help prevent problems later on if your grant is audited. https://acronyms.thefreedictionary.com/CFS, The tracking, correlation and interpretation of, Polyacrylonitrile (PAN) based high strength 3K, Current theories include allergy, some other infectious agents, immune disorder, hormonal abnormalities, low blood pressure, decreased blood flow to the brain, lack of certain nutrients in the diet, mental health problems such as stress and emotional trauma, and one's genes because, In this connection a special function was held in Faisalabad Chamber of Commerce and Industry (FCCI) in which Engineer Ahmed Hassan President District Management Board of the Punjab Vocational Training Council (PVTC) and Rana Nasir Manzoor President, In November 2014, Townsend Letter ran my article which theorized that in a subgroup of, The sentence should read "After adjusting for age, body height, and weight, combined trunk and arm endurance was lower in, Dictionary, Encyclopedia and Thesaurus - The Free Dictionary, the webmaster's page for free fun content, Microanatomy of the Nerve to Iliacus Muscle and its Clinical Significance/Microanatomia del Nervio del Musculo Iliaco y su Importancia Clinica, Incorporation of Carbon Nanotubes on Strategically De-Sized Carbon Fibers for Enhanced Interlaminar Shear Strength of Epoxy Matrix Composites, LETTER TO THE EDITOR (MARCH 3, 2019): CONCERNING THE PAPER "THE RELATIONSHIP BETWEEN CHRONIC FATIGUE SYNDROME, BURNOUT, JOB SATISFACTION, SOCIAL SUPPORT AND AGE AMONG ACADEMICS AT A TERTIARY INSTITUTION", Enhancing the Interfacial Properties of Composites by Grafting Polyethylene Glycol and Polyvinyl Alcohol Onto a CF Surface. Chronic fatigue illness is often mistaken for something else; It's a misunderstood condition which often gets confused with other illnesses.