Accounting Close at IU
This portion of the book is focused on IU-specific closing information and procedures related to the closing process. This section includes information, deadlines, and guidance established by organizations such as the IU Foundation or the Budget Office.
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Key fiscal officer responsibilities included during close consists of reviewing and ensuring compliance with all IU accounting standards. Both interim and year-end closing procedures are accompanied by a checklist to be submitted by the CRU alongside required materials. The list and relevant scope are subject to change annually and individual specific requirements as determined by each campus and/or RC need to be considered in addition to the below items.
POLICIES
Review the below policies related to accounting close at IU:
- FIN-PAY-030: Timing of Payments and Off-Cycle Payroll
- FIN-BUD-4: General Fund Year-End Balances
- FIN-BUD-20: Review of Fiscal Activities
STANDARDS
Review the below standards related to accounting close at IU:
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- Accrual Accounting
- Balance Sheet Substantiation
- Material Transactions Substantiation
- Variance Analysis
- Account Reconciliation
- Financial Sub-Certification
CHECKLISTS
Review the below checklists related to accounting close at IU:
TRAINING MATERIALS
There are no training materials related to this portion of the book at this time. Please check back in the future!
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OTHER RELATED MATERIALS
Review the below other materials related to accounting close at IU:
- Year-End Close Reminders
- Year-End Close Schedule
- IU Foundation Direct Deposit Authorization Form
- Purchasing Support Form
- P-Card Information
IU Financial SYSTEM REPORTS AND PROCEDURES
Review the below IU financial system reports and procedures related to accounting close at IU:
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- Account Role and Delegate Compliance Status Report Instructions
- Account Role and Delegate Compliance Status Report Location
- Financial Statements Report Instructions
- Financial Statements Report Location
- Multi-Year Financial Statements Report Instructions
- Multi-Year Financial Statements Report Location