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.
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:
- UCO-CLS-1.00: Accrual Accounting
- UCO-CLS-2.00: Balance Sheet Substantiation
- UCO-CLS-2.01: Material Transactions Substantiation
- UCO-CLS-3.00: Variance Analysis
- UCO-CLS-4.00: Account Reconciliation
- UCO-IRR-1.02: 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!
OTHER RELATED MATERIALS
Review the below other materials related to accounting close at IU:
- Reference Document: Year-End Close Reminders
- Reference Document: Year-End Close Schedule
- Reference Document: List of Current Constituent Reporting UnitsĀ
- Form: IU Foundation Direct Deposit Authorization Form
- Form: Purchasing Support Form
- Reference Documents: P-Card Information
- Form: CRU Sub-Certification Form
- Form: Unit Level Sub-Certification Form
IU Financial SYSTEM REPORTS AND PROCEDURES
Review the below IU financial system reports and procedures related to accounting close at IU:
- 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