Click to review the below policies related to inventory reporting for recharge and service center units:

FIN-ACC-350: General Accounting and Financial Audit Compliance

Click the link above to review the Indiana University policy on general accounting and financial audit compliance. This policy outlines the accounting principles followed at IU, such as accrual accounting, and explains how these practices impact departments across the university. It helps ensure accurate, consistent, and compliant financial activity in accordance with GAAP, GASB, and the State of Indiana. Additionally, the policy supports compliance with various audit requirements established by the OMB, IRS, and other state, federal, and external entities.

FIN-ACC-400: Recharge and Service Center Activity

Click the above link to review the Indiana University policy on recharge and service center activity. This policy provides the necessary guidance to ensure that any internal transaction that records income to one university account and expense to another meets compliance criteria. In particular, it ensures compliance with Federal OMB Uniform Guidance and related federal cost accounting standards. Review this policy for information about the procedures around recharge and service center activities, the scope of this policy, reasoning for this policy, definitions for common terms surrounding these activities, contacts for questions related to recharge activity, the history of this policy, and for information about how this policy impacts different units and employees at IU.