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Fiscal Procedures: Chapter 1 – Accounting

The original fiscal procedures document (chapter on accounting) contains only general guidance – for example, on following GAAP (generally accepted accounting principles) or on establishing internal controls. On the other hand, detailed accounting policies and procedures are conveyed via a myriad of other sources (Administrative Policy Statements, Finance Procedural Statements, Procurement Service Center Procedural Statements, campus policies, and so forth). After consulting with key campus contacts, the subcommittee has decided to develop a University-wide Accounting Handbook in which will be consolidated the guidance – policies, procedures, best practices, etc. – needed by department staff. Campus-specific policies and procedures (where applicable) will be identified and linked to this Handbook. As content chapters are finalized and published, the OUC will pursue revisions or rescissions, as appropriate, to any policy and procedural statements rendered redundant (in full or in part) by the Handbook.

The OUC is developing the content of the Handbook in conjunction with campus controller staff. Draft chapters will be published on this website as they are created, according to the general timeframes listed below. Since the Accounting Handbook is being developed to serve the needs of the University community, campus users are encouraged to review the draft chapters and send their comments, questions, and suggestions to FiscalProcedures@cu.edu.

Part A: Introduction/Purpose
Chapter		Draft Available	Related Administrative Policy Statements (APS)	Related Procedural Statements	Related, Additional Web Resources
1	Introduction	Jan-Feb 2012	Propriety of Expenses Fiscal Roles and Responsibilities	Internal Controls and Compensating Controls	Welcome to CU Tutorial
2	University Structure	Jan-Feb 2012
3	Job Structure and Tasks	Jan-Feb 2012
4	Protecting Resources	Jan-Feb 2012
Part B: Finance System Values
Chapter		Draft Available	Administrative Policy Statements (APS) referenced in or replaced by this chapter:	Procedural Statements referenced in or replaced by this chapter:	Other Web Resources created or replaced by this chapter:
5	PeopleSoft Finance System Values	Oct-Nov 2011	Revenue Definition and Recognition		Chart of Accounts Form – Revise Finance System Structure and Values on OUC website
6	Balance Sheet Accounts	Oct-Nov 2011
7	Fund Management	Oct-Nov 2011
8	Revenue Recognition	Oct-Nov 2011
9	Budget	Oct 2011-Feb 2012
Part C: General Financial Tasks
Chapter		Draft Available	Administrative Policy Statements (APS) referenced in or replaced by this chapter:	Procedural Statements referenced in or replaced by this chapter:	Other Web Resources created or replaced by this chapter:
10	Types of Financial Transactions	Oct-Nov 2011	Cash Control	Cash Control	Journal Source Code Listing on the OUC website
11	Cash Control	Oct-Nov 2011
12	Accounts Receivable	Oct-Nov 2011
13	Inventory	Oct-Nov 2011
Part D: Specialized Financial Tasks
Chapter		Draft Available	Administrative Policy Statements (APS) referenced in or replaced by this chapter:	Procedural Statements referenced in or replaced by this chapter:	Other Web Resources created or replaced by this chapter:
14	Sponsored Projects Accounting	Jan-Feb 2012	Allocating Sponsored Project Funding on More than one Campus Auxiliary and Self-Funded Revenues CU Foundation Transfers Direct Spending From a Foundation on Behalf of the University Gift in Kind Transactions Gift Revenues Revenue Definition and Recognition Sponsored Projects Revenues University-Sponsored Fundraising Events	CU Foundation Transfer Requests Fundraising Events Gift in Kind Decision matrix for Distinguishing Revenues GASB 33 Impact on Recognition of Sponsored Project Revenues Documentation of GASB 33 Analysis of Sponsored Project Revenues from Private Foundations	GASB Flowchart
15	Gift Accounting	Jan-Feb 2012
16	Auxiliary Funds	September 2011
17	Internal Service Centers	Jan-Feb 2012

Related Links

Accounting Subcommittee

Members/Goals

What do YOU think?

Send feedback on draft Handbook chapters to FiscalProcedures@cu.edu
(the drafts are Word documents, to facilitate your edits/comments).


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