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9781421427256 Add to Cart Academic Inspection Copy

University Finances:

Accounting and Budgeting Principles for Higher Education
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As a business, the university must account for the money it receives and spends according to standardized bookkeeping and financial reporting methods. But members of the academic community may not be familiar with standard financial procedures, while accountants may be unaware of the unique financial attributes of colleges and universities. To ease confusion, this book explains the fundamentals of university finances for non-accountants and professionals alike.

In University Finances, higher education expert Dean O. Smith

  • demystifies basic accounting procedures, budgets, debt financing, and financial statements;
  • explores more unusual financial topics, such as methods for calculating fringe benefit rates, bond refunding costs, and indirect cost allocations;
  • shows that the use of university wealth is highly restricted by donors, bondholders, government regulators, and others;
  • answers nuanced questions, like ""How are USDA formula funds calculated?"" and ""Why does the university pursue more and more research funding when it loses money on every grant?""; and
  • illustrates financial calculations using realistic examples.

    Some of these explanations are unavailable in print or online to anyone but a handful of professional accountants. Rigorous, detailed, and wide-ranging, University Finances is a unique and powerful resource.

    • Preface
    Abbreviations

    Chapter 1. University Financial Management
    Chapter 2. Principles of Accounting
    Chapter 3. Income
    Chapter 4. Expenses
    Chapter 5. Capital Assets
    Chapter 6. Budgets
    Chapter 7. Financial Reports
    Chapter 8. Grants and Contracts
    Chapter 9. Indirect Costs
    Chapter 10. Institutional Financial Strategies
    Index

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