Cost reports are due after how many months at the end of the fiscal year?

Cost reports are due after how many months at the end of the fiscal year?

• A. 6 months
• B. 1 month
• C. 3 months or 90 days
• D. 12 months

Answer: (C)

Cost reports are expected within a defined window after the fiscal year ends. The standard deadline is 90 days, about three months, after year-end. This period gives enough time to gather all cost data, allocate shared costs, reconcile accounts, and perform any necessary internal checks before submitting the report. Submitting sooner (like one month) is usually not feasible because data collection and validation take time, while waiting longer (six or twelve months) would delay reimbursements and audits and slow the close process. So, three months (90 days) after year-end is the appropriate, timely deadline.

Cost reports are expected within a defined window after the fiscal year ends. The standard deadline is 90 days, about three months, after year-end. This period gives enough time to gather all cost data, allocate shared costs, reconcile accounts, and perform any necessary internal checks before submitting the report. Submitting sooner (like one month) is usually not feasible because data collection and validation take time, while waiting longer (six or twelve months) would delay reimbursements and audits and slow the close process. So, three months (90 days) after year-end is the appropriate, timely deadline.