Full Economic Costing is a government-required method of accounting for all direct and indirect costs of a project or activity. Within Edinburgh University the Management Accounting section is responsible for Full Economic Costing projects. Further information is available on the Full Economic Costing website. Full Economic Costing website Transparent Approach to Costing Transparent Approach to Costing (TRAC) is the result of a government initiative to promote better understanding of costs across the higher education sector. The University is required to submit a TRAC return to the Scottish Higher Education Funding Council every year, and this process is the responsibility of the Management Accounting section. To comply with TRAC methodology academic members of staff are required to complete a Time Allocation Survey, the results of which form part of the calculation of FEC rates. This article was published on 2024-07-01
