Chapter 18 - – Unrestricted plug – Look at p688...

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Accounting for Governmental Colleges and Universities UTA - Case
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A governmental college/university Does the entity meet one of the 4 criteria to be governmental entity? Follow GASB #35, “engaged in only business-type activities” Account and report like an enterprise fund. 1. Fund accounting (Look on p. 687 for fund types.) 2. 3 basic statements, +MD&A and RSI
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Statement of Net Assets Net Asset: Invested in capital assets, net of related debt Restricted , look at all those restrictions! Expendable vs nonexpendable
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Unformatted text preview: – Unrestricted, plug – Look at p688 Statement of Revenue, expenses and Changes in Net Assets • Classification of Revenues, Expenses P690, 693(only recommended) • Some interesting notes: – Tuition & Scholarships • Scholarship allowance is contra-revenue i.e. Pell Grant • Scholarships and fellowships is expense, $ paid to students • Tuition waiver is compensation expense, GTA in-state tuition – Statement of Cash Flows • 4 categories, follows the enterprise fund statement • P 694 • Look at UTA...
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Chapter 18 - – Unrestricted plug – Look at p688...

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