IU Accounting Standards are the authoritative and comprehensive guidance on accounting and financial reporting at Indiana University. Fiscal Officers should follow these standards to ensure fiscal compliance as prescribed by the Office of the University Controller. Existing Standard Operating Procedures will be incorporated into the IU Accounting Standards as they are reviewed and revised.
Internal Controls and Roles & Responsibilities
Internal controls, an effective financial control environment, and the roles and responsibilities of fiscal compliance at Indiana University.
Accounting and Financial Statements Overview
Accounting terminology, accounting principles, financial statements, and the impact financial statements have within regular operations.
Both the interim and year-end closing process.
KFS Resources & Financial Processing Documents
Proper usage of financial documents, as well as general information, requirements, and best practices associated with each document.
Chart of Accounts and General Ledger
The various components of the chart of accounts at Indiana University.
How and when to account for revenue, and how to record receipts from donors, suppliers, students, government organizations, and more.
How and when to account for expenses, and how to make payments related to employees, students, suppliers, travel, hospitality, and more.
Payroll and related procedures.
How to properly account for the main assets listed on the balance sheet.
How to properly account for the main liabilities listed on the balance sheet.
Recharge and Service Center Units
How to properly account for and record the sale of goods and services to both external and internal customers, as well as associated inventory, taxes, and accruals.
A comprehensive overview of taxes at Indiana University, including relevant standards, regulations, and best practices that govern tax withholding, reporting, and compliance.
A glossary of terminology used throughout these standards is also available.