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FP6 Financial Info & FAQs
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FP7 Financial Info and FAQs

Please note that there have been significant changes from FP6, including changes in nomenclature. This aspect of FP7 is open to further changes and fine tuning. Many of the planned changes will only be phased in during the first few years. This is our current best assessment of where the rules stand. Note that many aspects will only be clarified as they are implemented. Some experts believe parts are unimplementable. Interpretation is also likely to vary within the Commission itself especially between Directorates as in the past.

Differences between FP6 and FP7
FP7 Participation, Subcontractors, Third Parties
Risk-sharing Finance Facility, Guarantee Mechanism
Funding Regimes, Lump Sums, Flat Rates
Funding Rates, Activities
Personnel Costs, Average Personnel costs, Employment issues, Students
Eligible & Ineligible costs
Overheads, Possible Methods, Direct Costs Vs Indirect Costs
Financial Planning, Financial Spreadsheet
Bookkeeping, Accounting Records, Timesheets, Cost Recording
Financial Reporting, Timing and approval of financial reports
FP7 Certificates
EU Audits / Liquidated Damages
Consortium Agreement financial Issues
The Role of the Coordinator

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