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2. Accounting Services

Scope

This chapter contains information dealing with the use of the different units of Accounting Services. The information applies to all employees of the University, but is not all inclusive. For reference purposes, this material covers more general policies and procedures. Please consult the controller at 7-2436, if you need interpretive or more specific information, or consult the Web site of Accounting Services.

General Information

These policies, as written here, are not the complete policies as adopted by the State of Michigan, Board of Control, the Administration, or the federal government. Copies of relevant Board of Control policies in their entirety are available in the Board of Control Policy Manual.

Accounting Services is subdivided into seven units: Accounting Information Systems, Accounts Payable, Accounts Receivable, Auxiliary/General Accounting, Cashier’s Office, Plant and Property/Equipment Management, and Research Accounting. Policies and procedures regarding the services these units provide are outlined in the following sections.

Definition

Uniform Financial Reporting: The policies and procedures for public financial reporting adopted by the Michigan Uniform Financial Reporting System (MUFRS). Adoption of these policies and procedures brings Michigan Technological University's reporting practices into conformity with other institutions of higher education in Michigan and with new guidelines recommended by professional accounting groups nationally.

History
Adopted: 11/13/2001
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