System Structure and Transactions

The university receives funding from a variety of sources.  Proper stewardship of university funds is the responsibility of all university employees involved in financial transactions. Inherent in these responsibilities is the requirement to operate the institution under guidance set forth by the Board of Trustees, to follow generally accepted accounting principles, and to comply with related federal, state, and local regulations. 

Cornell University Policy 3.7, Accounting: System Structure and Transactions  describes the structure of the Cornell accounting system and provides the framework for other accounting policies. Topics include the accounting system structure, account attributes (fund, function, source, account type, organization code, restriction classification), transaction characters (dept, subledger, object, project, and DUO codes), reporting structure, and object code listings.

The policy also includes the accounting glossary, which serves as an excellent reference for all Cornell-related accounting terms from A to Z.