ERIC Number: ED226639
Record Type: Non-Journal
Publication Date: 1982-Sep
Reference Count: N/A
The Status of University Financial Reporting.
Fritzemeyer, Joe R.; And Others
Business Officer, p18-22 Sep 1982
The status of university financial reporting was surveyed as an update of a 1976 survey. Of the 100 financial reports analyzed in 1976, 87 were available in 1980, and 39 additional private college reports were assessed. In addition to comparing 16 financial reporting standards used in reports between 1976 and 1980, public and private university financial reporting for 1980 was also compared. Of 800 colleges and universities sent a questionnaire on audit scope and auditor selection/rotation, 70 percent responded. For the financial reports, four comparisons concerning the Auditor's Opinion section and eight comparisons concerning the Recommended Accounting Practices section were made. The Recommended Accounting Practices section was also compared for audited and unaudited reports. It is concluded that while there were indications of increased compliance between 1976 and 1980 for certain comparisons, the present level of comparability was inadequate. An excess of 10 percent of the 1980 unaudited financial reports were on the cash basis. The level of comparability was higher for private colleges. In addition, independent auditors predominated over statutory auditors in a ratio of two to one. Recommendations regarding the publishing of financial reports and authoritative sources for reporting are offered. (SW)
Descriptors: Accountants, Comparative Analysis, Educational Finance, Financial Policy, Followup Studies, Higher Education, Private Colleges, Publications, Reports, School Accounting, School Surveys, Standards, State Colleges
National Association of College and University Business Officers. 1110 Vermont Avenue NW Suite 800, Washington, DC 20005. Tel: 800-462-4916; Tel: 202-861-2500; Fax: 202-861-2583; Web site: http://www.nacubo.org
Publication Type: Reports - Research; Collected Works - Serials
Education Level: N/A
Authoring Institution: National Association of College and University Business Officers, Washington, DC.