Click to review the below policies related to revenue recognition:

FIN-ACC-1: Role of Fiscal Officer, Account Manager, and Account Supervisor

FIN-ACC-10: Ranking of Fiscal Officer, Account Supervisor, Account Manager, and Delegation of Signature Authority

FIN-ACC-350: Accrual Accounting

Click the above link to review the Indiana University policy on accrual accounting. This policy outlines accrual accounting, how this impacts departments at Indiana University, and clarifies which method of accounting is required by the AICPA Audit Guide.

FIN-ACC-460: Depositing of Revenue for the Sale of Goods and Services at the IU Foundation

Click the above link to review the Indiana University policy on the depositing of revenue for the sale of goods and services at the IU Foundation. This policy provides guidelines on when funds generated through the sale of a good or service can be deposited or transferred to the Indiana University Foundation (IUF) from Indiana University (IU), the procedures for transferred funds, the necessary documentation when funds are transferred, how this impacts departments at Indiana University, and explains the importance of adhering to this policy as non-compliance can impact IUF’s tax-exempt status.

FIN-ACC-470: Internal Controls

Click the above link to review the Indiana University policy on internal controls. The objective of this policy is to establish best practices regarding internal controls at Indiana University. The university is required by Federal regulations, including Uniform Guidance and Generally Accepted Accounting Principles (GAAP), to maintain an effective internal control structure.

FIN-ACC-650: Financial Compliance: Authority & Accountability

Click the above link to review the Indiana University policy on fiscal compliance, authority, and accountability. This policy contains information about roles and responsibilities at Indiana University. In particular, this policy is focused on outlining the authority for the university’s external financial audits, fiscal internal controls, and related compliance. This policy outlines the delegation of financial policy, standards, transactions, systems, and reporting as it relates to external financial compliance for the university as a whole.

FIN-TRE-100: Signature Authority and Delegation

Click the above link to review the Indiana University policy on signature authority and delegation. This policy establishes and clarifies protocols regarding signature authority and the delegation of signature authority with respect to contracts and agreements between the university and third parties. In particular, this policy is focused on outlining parties who have the authority to sign documents related to conducting the business operations of the university, the procedure to request a delegation of signature authority, definitions for common types of agreements between IU and third parties, and how this policy impacts different departments at IU.

FIN-TRE-110: Accepting Electronic Payments

Click the above link to review the Indiana University policy on accepting electronic payments. This policy provides the necessary guidance to ensure that the university takes advantage of the opportunities electronic payments present while meeting the regulatory requirements, operational challenges, internal controls, and security responsibilities associated with accepting payments electronically. Review this policy for information about the procedures around accepting and processing electronic payments, definitions for common terms surrounding electronic payments, and for information about how this policy impacts different units and employees at IU.

FIN-TRE-120: Processing Revenue

Click the above link to review the Indiana University policy on processing revenue. Review this policy to understand the revenue processing system and the importance of standardizing revenue processing within Indiana University as a means to reduce the risk of fraud and/or loss while increasing the efficiency of its cash.

FIN-TRE-121: Establishing and Modifying Revenue-Producing Activities (RPA)

Click the above link to review the Indiana University policy on establishing and modifying a revenue-producing activity. A revenue-producing activity is established when revenue is generated from the sale of products and/or services provided by the university and/or university employees. All new activities must be approved prior to accepting revenue. This policy is intended to provide procedures and guidelines for the establishment of revenue-producing activities by IU departments, units, and individuals, consistent with the university mission and that of the unit generating the revenue. The purpose of this policy is to determine alignment with the mission and to standardize revenue processing within IU across similar functions with solutions characterized by strong controls to reduce the risk of fraud and/or loss while increasing the efficiency of its cash.