14 C.F.R. § 152.305 – Accounting records.

(a) Airport development. Each sponsor of a project for airport development shall establish and maintain, for each individual project, an accounting record satisfactory to the Administrator which segregates cost information into the cost classifications set forth in Standard Form 271 (42 FR 45841).
(b) Airport planning. Each sponsor of a project for airport master planning and each planning agency conducting a project for airport system planning shall establish and maintain, for each planning project, an adequate accounting record that segregates and groups direct and indirect cost information in the following classifications:
1. (1) Third party contract costs.
2. (2) Force account costs.
3. (3) Administrative costs.