This portion of the book provides an overview and helpful documents related to the basic accounting principles. Accounting principles are general rules and guidelines that entities must follow in order to accurately report their financial statements.

IU is required to adhere to the five accounting principles as required by the Government Accounting Standards Board (GASB). A deep understanding of these principles are important as following these principles helps to ensure financial information is understandable to both internal users and external stakeholders.

The five basic accounting principles are as follows:

POLICIES

Review the below policies related to accounting principles:

• FIN-ACC-350: Accrual Accounting
• FIN-TRE-120: Processing Revenue

STANDARDS

Review the below standard related to accounting principles:

• UCO-AFO-2.00: Accounting Principles

CHECKLISTS

There are no checklists related to this portion of the book at this time. Please check back in the future!

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 material related to accounting principles:

• Referebce Document: Payroll Accruals

IU Financial SYSTEM REPORTS AND PROCEDURES

There are no IU financial system reports and procedures related to this portion of the book at this time. Please check back in the future!