Your Accounting Handbook: In the Works and Open for Input
Question: What is the University of Colorado Accounting Handbook? Answer: A new consolidated source for accounting information and procedures, applicable to all campuses. The University’s Fiscal Procedures contain only general guidance on accounting, for example, discussions on establishing internal controls, or the fact that we follow GAAP (generally accepted accounting principles). The necessary detail is conveyed via a myriad of other sources (Administrative Policy Statements, Finance Procedural Statements, Procurement Service Center Procedural Statements, campus policies, and so forth). Enter the Accounting Handbook. Here, in one place, departments will be able to find the guidance – policies, procedures, forms, best practices, etc. – that they need. Where appropriate, the Handbook will also identify and link to campus-specific policies, procedures, and forms. The book draws heavily on the Departmental Financial Management Guide, a.k.a. The Guide – a popular (and very practical) resource currently in use on the Boulder Campus. The Guide was initiated by former campus controller Jud Hurd a number of years ago and has since been ably expanded and updated by Barry Northrop of Boulder’s Accounting & Business Support office. The new Accounting Handbook is currently a work in progress. A number of chapters are now available on the OUC website and are ready for your input. Since the Handbook is being developed to serve the needs of the entire University community, we encourage your participation in its development. Note: The OUC will be pursuing revisions or rescissions, as relevant, to policy and procedural statements that are rendered redundant by the Handbook. That means fewer places you need to run to when you’re looking for accounting-related information. Please send comments, questions, and/or update suggestions to FiscalProcedures@cu.edu.