A systematic numbering system for the accounting system used to categorize and collect the effects of financial transactions.

PROCESS:

Governance and Control

• The Chief Financial Officer (CFO) of KSU controls and approves the university's chart of accounts.
• The chart of accounts must be designed and managed to meet the needs of:
• oKSU's organizational structure.
• oInternal financial management reporting.
• oExternal and regulatory reporting requirements.

Maintenance

The Controller is responsible for maintaining the approved chart of accounts within the accounting system, including processing all additions and deletions of accounts as approved by the CFO.

REFERENCES AND RELATED MATERIALS:

• National Association of College and University Business Officers (NACUBO) Financial Accounting and Reporting Manual (FARM)
• Generally Accepted Accounting Principles (GAAP)
• Governmental Accounting Standard Board (GASB)

CONTACTS:

HISTORY: