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Public colleges must depreciate infrastructure and may not use the modified approach

Public colleges must depreciate infrastructure and may not use the modified approach.

42.Public colleges must report tuition income net of athletic scholarships.

43.Public colleges who waive fees for graduate assistants must report tuition income net of the fees waived.

44.Public colleges who waive fees for graduate assistants must report tuition at the gross amount and expense the fees waived.

45.GASB categorizes general state appropriation as operating revenue for public colleges and universities.

46.GASB categorizes general state appropriation as nonoperating revenue for public colleges and universities.

47.Reimbursement grants require that the appropriate expenditure be made before the revenue can be recognized.

48.According to GASB Statement 33, with respect to public colleges and universities, pledges receivable are recognized as assets and revenues when eligibility requirements are met.

49.Public colleges and universities account for revenue bonds using the accrual method to account for interest and amortization of premiums and discounts.

Jan 25 2020 View more View Less

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