| Drill Down |
When available, allows users to further investigate a specific financial statement balance through linking of additional detailed reports and KFS. Drill down detail can go as far as the document reference in KFS, provided the user continues to click on the desired linked balance. |
| External Agency Fund |
This fund group is in direct relationship with the university mission and acts as reimbursement to the university for use of university property or service. This fund is managed by individual campuses and fiscal officers. |
| Fund Accounting |
Fund accounting is an accounting and reporting system commonly employed by independent colleges and universities to keep track of resources whose use is limited by donors, granting agencies, law, other outside individuals or entities or by governing boards. A fund is maintained for each specific purpose. |
| Generally Accepted Accounting Principles (GAAP) |
US Generally Accepted Accounting Principles (US GAAP) is the combination of authoritative standards (requirements) and the commonly accepted ways of recording and reporting accounting information. |
| Governmental Accounting Standards Board (GASB) |
The organization responsible for establishing accounting and financial reporting standards for state and local governments and those entities that are funded by state and local government. |
| Internal Agency Fund |
The internal agency fund acts as the fiscal agent or trustee for the university. For financial reporting purposes, this fund group balance is reported as unrestricted at fiscal year-end. Common uses of this fund include withholdings for taxes for employees and sales tax. This fund group is managed internally by UCO. |
| Journal Entry |
Journal entries are records of business transactions. A business transaction is the exchange of goods or services for a form of payment. A journal entry is used to record each transaction and include more information about the transaction such as date, amount, description of the entry, and a unique reference number, often called a journal entry number. |
| KFS Exception Role |
Users who can serve as fiscal officers, account manager, account supervisor or allowed to be delegates as exception to policy. |
| Recharge/Service Center |
Furnishes goods or services to another Indiana University department for the convenience of the university and charges a fee directly related to providing the goods or services, and not more than the allowable costs. |
| Service Fund |
Service fund is an enterprise that furnishes goods or services to other internal university departments and charges a fee directly related to, and equal to, the cost of the goods or services. This means that the entity is self-supporting, but is not allowed to make a profit. |
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