The European Commission has recently published a first update of the FP7 financial guidelines.

The modifications, product of experience, new developments and feedback from users, include:

- Explanations on a financially weak entity wanting to be coordinator
- Further information on the certification process
- Further explanations on direct personnel costs, an updated model of timesheet and additional information on productive hours
- Additional explanations on indirect personnel costs including the simplified method
- New examples of "Other activities" and "Management activities"
- New explanations on the obligation to declare interests
- Additional example and explanations on the intervention of the Guarantee Fund

The document can be downloaded on cordis.