GASB 15 clarifies accounting for public colleges, universities.
According to the statement, government colleges and universities may choose between two reporting models: one developed by the American Institute of CPAs in its Industry Audit Guide, Audits of Colleges and Universities, as amended, or the government model developed by the National Council of Governmental Accounting, as amended.
GASB Statement no. 15, which also applies to state and local government reporting entities that include colleges and universities, is effective for periods beginning after June 15, 1992.
Copies of Statement no. 15 are available for $6.25 from the GASB Order Department, P.O. Box 30784, Hartford, Connecticut 06150. (Connecticut orders should add 6% sals tax.)
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|Publication:||Journal of Accountancy|
|Date:||Dec 1, 1991|
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