accounting fun damentals for non-accountants: what you need to know to do your job
DESCRIPTION
Accounting FUN damentals for Non-Accountants: What you need to know to do your job. 6 steps to Certification. Today’s Agenda History of Governmental Accounting Standards Board (GASB) 15 KEY terms to help you pass Financial Statement Preparation FIFO/LIFO Inventory—Income Statement - PowerPoint PPT PresentationTRANSCRIPT
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Office of Business and Financial ServicesUniversity Accounting and Financial Reporting
Accounting FUNdamentals for Non-Accountants:
What you need to know to do your job
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Today’s Agenda
History of Governmental Accounting Standards Board (GASB)
15 KEY terms to help you pass
Financial Statement Preparation
FIFO/LIFO Inventory—Income Statement
Amortization schedule
Variance Analysis
6 steps to Certification
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Information any CPA would know:
Governmental Accounting Standards Board (GASB)
Fund Accounting
Accrual Basis of Accounting
What makes this fun?
This IS Fun!
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Decode UA and SunGard secrets
Chase the data to your balance
Declassified Information
Sherlock Holmes, Nancy Drew and Scooby Doo
Hidden Agenda
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Chart
Fund Organization Activity Location
Campus UniquelyIdentifiesFiscalEntity
Budget UnitsDepartments
UserAssignedClassification
Account
AssetsLiabilitiesFund BalanceRevenueExpendituresTransfers
NACUBOFunction& Dept.Activities
Program
PhysicalPlacesand Sites
Required Segments Optional Segments
C-FOAPAL Segments Summary
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UA and SunGard developed anagram
CHART
FUND
ORGANIZATION
ACCOUNT
PROGRAM
ACTIVITY CODE
LOCATION
Decipher the C-FOAPAL Codes
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Accounting Equation
Debits “+” / Credits “-”
Operating Ledger
Revenues, Expenses, and Transfers
Encumbrance Reports
General Ledger
Assets, Liabilities, and Fund Balance
Your Balance Coordinates
Talk the Talk
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Accounting Equation
Debits “+” / Credits “-”
Operating Ledger
Revenues, Expenses, and Transfers
Encumbrance Reports
General Ledger
Assets, Liabilities, and Fund Balance
Your Balance Coordinates
Talk the Talk
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Operating Ledger Transaction Statement Page 1
A
B
1
23
4
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1
2
3
4
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C
D
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A
B
C
Z
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Z
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D
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Z
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Accounting Equation
Debits “+” / Credits “-”
Operating Ledger
Revenues, Expenses, and Transfers
Encumbrance Reports
General Ledger
Assets, Liabilities, and Fund Balance
Your Balance Coordinates
Talk the Talk
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A
DB+C
Z
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Accounting Equation
Debits “+” / Credits “-”
Operating Ledger
Revenues, Expenses, and Transfers
Encumbrance Reports
General Ledger
Assets, Liabilities, and Fund Balance
Your Balance Coordinates
Talk the Talk
![Page 20: Accounting FUN damentals for Non-Accountants: What you need to know to do your job](https://reader030.vdocuments.net/reader030/viewer/2022033023/56812a66550346895d8de6a4/html5/thumbnails/20.jpg)
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Policy and Procedures Manual
Allowability and Funding of Certain Expenditures 8.13
Rule Codes/Account Codes list
Training Materials
Banner Short Cut keys
Declassified Information
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Dr. Robert Langdon, Columbo, Insp. Jacques Clouseau
Who to Ask
University Accounting ComplianceDirector Glenn Meeks 312-996-4013 [email protected]
University Accounting Information ManagementDirector Denise Stanley 217-333-0487 [email protected]
Help Solve the Mystery