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The university is not a business

Posted on: June 4, 2022 at 06:12:19 CT

BigDave MU

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M.O.B. Votes:

It is a governmental unit, to be specific, a component unit of the State of Missouri. GAAP does not apply. They follow different accounting standards as put out by the Governmental Accounting Standards Board.

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MESSAGE THREAD

Does anyone know how Mizzou accounts for fixed assets? - ScottsdaleTiger MU - 6/3 16:41:56

Don't think there's a poster who is more ill-fitted for the - Cosmo MU

- 6/4 09:07:32

You Shack-killing SOB (nm) - Tigrrrr! MU

- 6/4 07:55:10

Ooooh, I love it when you talk accounting. Just kidding... - Deputy Dawg MU - 6/3 18:34:16

typical method ... - tmcats KSU - 6/3 16:53:46

WADR: Mizzou doesn't seem to do it that way - ScottsdaleTiger MU - 6/3 19:44:18

mizzou athletics is not transparent with financials .. - tmcats KSU - 6/3 22:02:16

Bingo(nm) - DevilsAdvocate KC - 6/4 13:45:47

They write it off - colonel angus beef KC - 6/3 20:36:28

it has to be accounted for regardless how ... - tmcats KSU - 6/3 22:03:24

I think he was alluding to this scene - lqf2b8 MU

- 6/4 10:29:40

Correct. Also, if something its a write off that necessarily - colonel angus beef KC - 6/5 10:48:20

Why do you ask? (nm) - JeffB MU

- 6/3 16:50:40

Generally Accepted Accounting Principles - ScottsdaleTiger MU - 6/4 00:21:36

The university is not a business - BigDave MU - 6/4 06:12:19

Furthermore, the athletic department is a separate legal - TigerNuts KC - 6/4 13:08:26

Thank you, after some thought I came to that conclusion - nm - ScottsdaleTiger MU - 6/4 06:21:52

Harder to follow. Don’t know why athletics isn't treated - DevilsAdvocate KC - 6/4 13:48:36