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Business Officer Magazine
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Financial Reporting and Management Series

Financial Reporting and Management: Telling the Higher Education Story

During 2014, Business Officer has given special attention to efforts underway by NACUBO to clarify the business of higher education in a series of articles, "Financial Reporting and Management: Telling the Higher Education Story." Here the entire collection of articles is gathered together.

JANUARY 2014

Reporting Reimagined

By Karen Craig and Sue Menditto

What if business officers could start over again to create an effective model of financial reporting that more clearly describes college and university finances? That's the essence of the NACUBO Accounting Principles Council's "Blank Slate Project," a new approach described in this article.

FEBRUARY 2014

Regroup From Square One

By Karl Turro

Accurately categorizing the purpose of higher education expenses—an inconsistent process across institutions—is both an art and a science. For those who want their financial statements to clearly show the costs of fulfilling their institution's mission, it may be time to rethink what higher education functional expense definitions need to convey.

MARCH 2014

Coming to Terms

By Sandra R. Sabo

With limited public funds available for higher education, it's imperative that chief business officers and state budget officials employ a common terminology that describes revenue and cost metrics.

APRIL 2014

Operation Simplify

By Catherine Lloyd and Erin S. Gore

Reducing complexity in the financial management infrastructure—from 22,000 funds to 160 funds—have proved a powerful ally in UC Berkeley's campaign to optimize resources.

MAY 2014

Focus on Relevance

By Stephen D. Golding and Sue Menditto

The new chair of the Financial Accounting Standards Board (FASB), Russell Golden, sees opportunities for standards alignment, meaning better institutional comparability and more relevant financial reporting.

JUNE 2014

A Full Accounting Plate

By Sue Menditto and Karen Craig

With packed agendas, both the GASB and the FASB will soon be issuing multiple proposals and statements. Already, public institutions are facing a major implementation on pensions in FY15, while independent institutions are watching for changes in the not-for-profit reporting model.

SEPTEMBER 2014

A Time of Reevaluation

By Charles Tegen and Sue Menditto

Along with plans to revisit Statement No. 34's financial reporting guidelines, David A. Vaudt, the new chair of the Governmental Accounting Standards Board (GASB), envisions the chance to clarify issues that are significant to several specific stakeholder groups.