Toward Better Annual Reports for Colleges and Universities

Accountability for the appropriate and efficient use of institutional resources has become a matter of increasing concern to students, legislative bodies, and the public in general. Several recommendations for narrative and interpretive information, accompanied by a statistical summary including bot...

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Bibliographic Details
Published in:The journal of government financial management 1991-07, Vol.40 (2), p.35
Main Authors: Fischer, Mary L, Gordon, Teresa P
Format: Article
Language:English
Subjects:
Accounting procedures
Accounting standards
Accreditation
Annual reports
Audited financial statements
Business metrics
Colleges & universities
Financial reporting
Higher education
Improvements
Peer review
Public sector
Revenue recognition
Statistical data
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Summary:Accountability for the appropriate and efficient use of institutional resources has become a matter of increasing concern to students, legislative bodies, and the public in general. Several recommendations for narrative and interpretive information, accompanied by a statistical summary including both financial and non-financial data, are presented. This information should help financial statement users better assess the operating performance and financial condition of colleges and universities. The annual report should provide the reader with enough information to understand the nature of the institution and something about its mission. Financial and nonfinancial indicators are useful for comparison purposes. Many different ratios have been proposed specifically for colleges and universities, and many of these ratios include nonfinancial information. Ideally, the statistical summary should be included in the scope of the auditor's report.
ISSN:1533-1385