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University Finances

Accounting and Budgeting Principles for Higher Education

Dean O. Smith

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An essential and comprehensive guide to university finances.

In University Finances, higher education expert Dean O. Smith

• demystifies basic accounting procedures, budgets, debt financing, and financial statements
• explores more unusual financial topics, such as methods for calculating fringe benefit rates, bond refunding costs, and indirect cost allocations
• shows that the use of university wealth is highly restricted by donors, bondholders, government regulators, and others
• answers nuanced questions, like "How are USDA formula funds calculated?" and "Why does the university pursue more and…

An essential and comprehensive guide to university finances.

In University Finances, higher education expert Dean O. Smith

• demystifies basic accounting procedures, budgets, debt financing, and financial statements
• explores more unusual financial topics, such as methods for calculating fringe benefit rates, bond refunding costs, and indirect cost allocations
• shows that the use of university wealth is highly restricted by donors, bondholders, government regulators, and others
• answers nuanced questions, like "How are USDA formula funds calculated?" and "Why does the university pursue more and more research funding when it loses money on every grant?"
• illustrates financial calculations using realistic examples

Some of these explanations are unavailable in print or online to anyone but a handful of professional accountants. Rigorous, detailed, and wide-ranging, University Finances is a unique and powerful resource.

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University Finances

Dean O. Smith

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Reviews

Reviews

Anyone who has anything to do with university finances will learn something from Smith's book. It should be required study for anyone in administration, from a department chair to the president, and those who want to intelligently contribute to discussions that involve allocation of resources, strategic planning, research funding, or philanthropy. I plan to provide a copy of this book to everyone in my leadership team.

Finally, someone has written a logically laid out book that clearly and concisely articulates the inner workings of university research funding. This will benefit anyone involved in the extramurally funded research operation to include both faculty and administrators. I only wish this had been available 20 years ago!

About

Book Details

Publication Date
Status
Available
Trim Size
7
x
10
Pages
424
ISBN
9781421427256
Illustration Description
20 line drawings
Table of Contents

Preface
Abbreviations
Chapter 1. University Financial Management
Chapter 2. Principles of Accounting
Chapter 3. Income
Chapter 4. Expenses
Chapter 5. Capital Assets
Chapter 6. Budgets
Chapter 7. Financial

Preface
Abbreviations
Chapter 1. University Financial Management
Chapter 2. Principles of Accounting
Chapter 3. Income
Chapter 4. Expenses
Chapter 5. Capital Assets
Chapter 6. Budgets
Chapter 7. Financial Reports
Chapter 8. Grants and Contracts
Chapter 9. Indirect Costs
Chapter 10. Institutional Financial Strategies
Index

Author Bio
Featured Contributor

Dean O. Smith

Dean O. Smith has served in the higher administration of four major universities: the University of Wisconsin–Madison, Texas Tech University, the University of Alabama in Huntsville, and the University of Hawaii, where he is now professor emeritus. He is the author of Managing the Research University, Understanding Authority in Higher Education, and University Finances: Accounting and Budgeting...
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