Fixed Asset Accounting

The Office of Fixed Asset Accounting is responsible for the accurate recording of land, buildings, and equipment on the University’s books. We work closely with the CAPS Office, the Office of Treasury Management (OTM), and the Office of Budget and Financial Planning (OBFP) to ensure compliance with the University’s standards and procedures. In particular OFAA provides the following services:

• Training on policy, process, and accounting for construction projects and equipment
• Advice on policy and accounting issues as they relate to construction projects and equipment
• Consultation on accounting issues that might impact large capital transactions such as a purchase of a building or land
• Assistance in budgeting for plant and equipment depreciation
• Liaison to the external auditors