Essentials of College and University Accounting
During this online course, you will learn the basic principles and practices involved in accounting and reporting for the financial activities of a college or university. The approach will be to begin by examining the underlying theory and financial principles involved. Please note - the workbook is only available online through the platform. No print versions are available. PDF reader required.
- The introduction is followed by a Module on Current Operations, which looks at the activities which form the core of the institution’s mission: instruction, research, and public service.
- The next Module, Financial Aid and Lending Activities, addresses accounting and reporting for student financial aid, including loans, and other lending activities.
- Endowment and Similar Activities takes us into the realm of institutional investments, gifts, endowments, and similar vehicles invested by the institution to generate a return that can be used as a source of perpetual revenue over the long term.
- The next Module, Capital Activities, addresses accounting and reporting for the Plant Fund, which houses the transactions for new construction, renovations, and purchases that meet the criteria for a capital asset. We also discuss depreciation issues in this section.
- Following this, we will cover the financial statements of either public or private institutions based on the course you are watching. Because the financial statements have some major differences, we will go through the financial statement display.
- Finally, we spend some time in comparing the accounting and reporting differences between public and independent institutions.
|Module 1: Introduction
Module 5: Capital Activities
|Module 2: Current Operations
Module Six: FASB Financial Statements
|Module Three: Student Financial Aid and Lending Activities
||Module Seven: GASB Financial Statements
|Module Four: Endowment and Similar Activities
||Module Eight: FASB/GASB Differences Financial Statements
NACUBO thanks Sue Menditto, director, accounting policy, NACUBO for leading the charge to update the course and Karen Craig, project specialist, NACUBO, for her tireless efforts in compiling and editing the material. In addition, NACUBO extends its sincere appreciation to the review committee for their time, dedication and thoughtfulness in developing this comprehensive tool for the higher education community:
- Dale Larson, vice president business and finance and chief financial officer, Dallas Theological Seminary
- Jeffrey West, associate vice president, financial and business services, University of Utah
- Ken Wilson, assistant, chief financial officer for strategic change initiatives, Northern Illinois University
What You Will Learn:
- Compare accounting concepts of institutions to those in the commercial sector
- Understand fund accounting and the activity groups
- Describe the financial statements and their relationship to institutional accounting
Who Should Participate?
- Accounting department staff
- Accounting staff new to higher education
- Trustees seeking a basic institutional accounting overview
- New Business Officers
- Future Business Officers
- Course Level: Basic
- Length: 4-hours
- CPEs: None Available
The online course is designed to be beneficial to the entire staff at your institution. NACUBO members benefit with a reduced rate of $250.00 for the first registrant and anyone else in their office only pays $50.00. (Non-members pay $400 for the first registrant and $100.00.)
FeesMember Site Registration: $250.00
Non-Member Site Registration: $400.00