- 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. 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
- 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, director, Case Western 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
Webcast Accounting and Financial Reporting FASB GASB