Revenue at Indiana University is defined as any incoming funds generated from the sale of either products or services provided by the university or university employees. This book will explain proper revenue processing procedures at Indiana University. Review this book for detailed information and resources on how revenue is recorded at Indiana University, including receipts from donors, suppliers, students, government organizations, and more. The information within this book is focused on the revenue line on the income statement.

WHAT YOU WILL FIND HERE

Revenue Recognition: This portion of the book is centered around providing helpful information and resources on revenue recognition at Indiana University. IU utilizes accrual accounting, where revenues are recognized when realized and earned, not based on when cash is received. Proper revenue recognition is crucial because it provides a more accurate representation of IU’s financial position and performance over a specific period of time.

Tuition and Revenue: This part of the book provides an overview surrounding tuition and student fees. The process of assessing and recognizing tuition and student fees as revenue is managed by the Office of the Bursar at IU.

Contracts and Grants: This section of the book explains contracts and grants at IU including information about federal grants and contracts, state grants, and contracts and grants from private sources. In particular, this chapter is focused on the process of accurately recording any revenue and receipts associated with a contract and grant account as this helps ensure compliance with accounting standards, regulations, and that contracts and grants are properly accounted for at IU.

State Appropriations: This chapter of the book will explain how state appropriations are recorded at Indiana University. State appropriations refer to funds allocated by the state legislature to public institutions such as IU.

Sales and Services: This portion of the book will provide a framework towards understanding revenue from sales and services on the income statement. This category encompasses revenue generated from activities such as educational programs and services that align with IU’s mission.

Other Revenue: Review this portion of the book for information about revenue that has not been accounted for in the other categories and appear on the other revenue line of the income statement.

Auxiliary Revenue: This segment within the book will provide information to aid the reader in understanding auxiliary revenue at Indiana University. Auxiliary revenue at IU is defined as revenue from enterprises that exist to support students, faculty, and staff.

Gifts: This part of the book will provide an overview of how to properly account for gifts Indiana University receives from donors.

Foreign Source Gifts, Contracts, and Other Revenue-Producing Activities: This portion of the book provides an understanding of the federal and state reporting requirements for foreign source gifts, contracts, and other revenue-producing activities. In addition, review this chapter for fiscal officer and unit-level expectations at IU surrounding foreign source activity.

Receipts: This chapter of the book contains information about the different forms of receipts at IU, including cash, checks, wires, and credit card payments.

Glossary: The glossary is a repository of both general and Indiana University specific accounting terminology.