General Accounting: Difference between revisions - University of Nebraska Medical Center

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Various legal and regulatory bodies have required special treatment for some accounting transactions. Listed below are these transaction types requiring special handling.

== Leases ==

All leases will be recorded in accordance with [https://www.gasb.org/~~jsp~~/~~GASB~~/~~Document_C~~/~~DocumentPage?cid=1176169170145&acceptedDisclaimer=true~~ Governmental Accounting Standards Board (GASB) Statement No. 87]. The implementation of GASB No. 87 requires that all leases be accounted for on the statement of net position. The purchasing department will coordinate the proper classification for new leases with General Accounting through the utilization of the ION Wave contract management system.

All leases will be recorded in accordance with [https://www.gasb.org/page/PageContent?pageId=/standards-guidance/pronouncements.html#gig Governmental Accounting Standards Board (GASB) Statement No. 87]. The implementation of GASB No. 87 requires that all leases be accounted for on the statement of net position. The purchasing department will coordinate the proper classification for new leases with General Accounting through the utilization of the ION Wave contract management system.

== Capitalization of Plant Assets ==

Equipment acquisitions will be recorded in accordance with the [https://nebraska.edu/-/media/unca/docs/offices-and-policies/policies/policies/capitalization-policy.pdf University of Nebraska Board of Regents Capitalization Policy], OMB Uniform Guidance and generally accepted accounting practices. The assignment of estimated years of life for equipment will be based on both [https://www.irs.gov/ IRS] and [https://www.aha.org/ American Hospital Association] guidelines.

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The ownership of equipment can vary widely depending on the source of funds utilized for acquisition. [https://info.unmc.edu/management/finance/general-accounting/information-manual/sectionI.html#faculty Faculty Member Transfer - Equipment Status] describes in detail how decisions are reached for determination of what equipment, if any, is transferred to the new faculty or researcher's institution.

==Additional Information ==

*Contact the [mailto:~~jeffrey.miller~~@unmc.edu Controller] or [mailto:~~lina~~.~~jiang~~@unmc.edu Manager, General Accounting]

*Contact the [mailto:mhrncirik@unmc.edu Assistant Vice Chancellor for Business and Finance and Controller] or [mailto:julie.bouchard@unmc.edu Manager, General Accounting]

*[https://nebraska.edu/-/media/unca/docs/offices-and-policies/policies/policies/capitalization-policy.pdf University of Nebraska Board of Regents Capitalization Policy]

*[https://info.unmc.edu/management/finance/general-accounting/information-manual/sectionI.html#faculty Faculty Member Transfer - Equipment Status]

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This page maintained by [mailto:~~dpanowic~~@unmc.edu ~~dkp~~].

This page maintained by [mailto:mhurlocker@unmc.edu mh].

@@ Line 38: / Line 38: @@
 Various legal and regulatory bodies have required special treatment for some accounting transactions. Listed below are these transaction types requiring special handling.
 == Leases ==
-All leases will be recorded in accordance with [https://www.gasb.org/jsp/GASB/Document_C/DocumentPage?cid=1176169170145&acceptedDisclaimer=true Governmental Accounting Standards Board (GASB) Statement No. 87]. The implementation of GASB No. 87 requires that all leases be accounted for on the statement of net position. The purchasing department will coordinate the proper classification for new leases with General Accounting through the utilization of the ION Wave contract management system.
+All leases will be recorded in accordance with [https://www.gasb.org/page/PageContent?pageId=/standards-guidance/pronouncements.html#gig Governmental Accounting Standards Board (GASB) Statement No. 87]. The implementation of GASB No. 87 requires that all leases be accounted for on the statement of net position. The purchasing department will coordinate the proper classification for new leases with General Accounting through the utilization of the ION Wave contract management system.
 == Capitalization of Plant Assets ==
 Equipment acquisitions will be recorded in accordance with the [https://nebraska.edu/-/media/unca/docs/offices-and-policies/policies/policies/capitalization-policy.pdf University of Nebraska Board of Regents Capitalization Policy], OMB Uniform Guidance and generally accepted accounting practices. The assignment of estimated years of life for equipment will be based on both [https://www.irs.gov/ IRS] and [https://www.aha.org/ American Hospital Association] guidelines.
@@ Line 56: / Line 56: @@
 The ownership of equipment can vary widely depending on the source of funds utilized for acquisition. [https://info.unmc.edu/management/finance/general-accounting/information-manual/sectionI.html#faculty Faculty Member Transfer - Equipment Status] describes in detail how decisions are reached for determination of what equipment, if any, is transferred to the new faculty or researcher's institution.
 ==Additional Information ==
-*Contact the [mailto:jeffrey.miller@unmc.edu Controller] or [mailto:lina.jiang@unmc.edu Manager, General Accounting]
+*Contact the [mailto:mhrncirik@unmc.edu Assistant Vice Chancellor for Business and Finance and Controller] or [mailto:julie.bouchard@unmc.edu Manager, General Accounting]
 *[https://nebraska.edu/-/media/unca/docs/offices-and-policies/policies/policies/capitalization-policy.pdf University of Nebraska Board of Regents Capitalization Policy]
 *[https://info.unmc.edu/management/finance/general-accounting/information-manual/sectionI.html#faculty Faculty Member Transfer - Equipment Status]
@@ Line 63: / Line 63: @@
-This page maintained by [mailto:dpanowic@unmc.edu dkp].
+This page maintained by [mailto:mhurlocker@unmc.edu mh].