Accounting for Leases

Policy Statement

This policy establishes accounting treatment of lease agreements entered into by the University, both as a lessee and as a lessor.  There are two types of lease classifications: capital and operating.  The proper lease classification is important because it determines the University’s accounting and reporting requirements.  

Reason for Policy...

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Financial Management of Property, Plant and Equipment

This policy establishes the proper methods to account for facilities and equipment, including capitalization, depreciation, disposals and impairments, and various funding sources.

Keywords: facilities, equipment, capitalization, depreciation, disposals, mpairments, sponsored equipment, upgrades, improvements, fixed assets, property, plant, fabrication, building, land, Oracle assets,  inventory, componetize, moveable furnishings...

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