Question

Wk 5-1 Please explain and provide examples:

The NACUBO organization. The reason this organization exists, what impact it has on college and university financial reporting, and the authority it has over standard setting for financial reporting for colleges and universities.

Answer 1

NACUBO stands for the National Association of College and University Business Officers. This organizations exist to represent chief business and financial officers advance their economic viability and to support higher education institutions to fulfill their missions. The group consist of university financial vice presidents, comptrollers and other finance officers. "Staff members of a member institution are eligible to receive benefits, incliding discounted products and services." (NACUBO, 2018)NACUBO publishes oys accounting standard recommendations im the Financial Accounting and Reporting Manual and provides guidance on issues that are not discussed in the FASB or GASB.