Introduction
Review this book for an overview of financial accounting and reporting at Indiana University. This book includes detailed information regarding basic accounting concepts and principles. This book will provide foundational knowledge on how to interpret financial statements such as the income statement, balance sheet, and statement of cash flows.
What you will find here
Introduction to Accounting: This portion of the book will provide an understanding of key accounting concepts, accounting terminology, an overview of normal balances, and financial transaction substantiation at Indiana University.
Accounting Principles: This portion of the book will provide general rules and guidelines that entities must follow in order to accurately report their financial statements. Indiana University is required to adhere to the five accounting principles as required by the Governmental Accounting Standards Board (GASB). These principles are important to ensure that financial information is accurate and understandable to both internal users and external stakeholders.
Financial Statements: This portion of the book will provide an overview of the financial statements as well as the importance and impact that financial statements can have.
Glossary: The glossary is a repository of both general and Indiana University specific accounting terminology.