Financial Statement Reports

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Prerequisites

Prior to reading the instructions on the financial statement report, it is beneficial to review the following sections of the IU Accounting Standards Book to gain foundational information along with report requirements and best practices:

  1. Accounting Fundamentals Standards Section
  2. Chart of Accounts and General Ledger Standards Section
  3. Financial Statements Accounting Standards Section

Overview

These are the official university financial statements of the unit. The Financial Statement Report is designed to help users with quick and easy access to all financial statement reports. Financial statements are formal records of financial activities and the overall financial position of an entity.The Financial Statement report is utilized in both internal and external audit procedures and it is key to have the reports readily available for audit purposes. It is also utilized for executive and indvidual unit management financial statement decision making.

There are three major financial statements utilized at Indiana University which include the Income Statement, Balance Sheet and Cash Flow Statements. The Financial Statement Report pulls all three of these reports simultaneously. Users are encouraged to pull all three statements simultaneously as most quarterly and year-end close procedures require all three financial statements to be pulled. After the report runs, it is important to check and evaluate the data and determine if the entity is accurately presented. Any errors or misstatements should be corrected before the reports are analyzed. To review the fiscal officer standards related to the financial statements, see the Financial Statement Accounting Standards notes in the prerequisite section.


Running the Report

Define the search parameters to return results relevant to your organization or to a specific account. Users are able to pull individual statements by selecting only the parameters related to the statement but are encouraged to run all three statements simultaneously. The search parameters available in the Financial Statements Report are divided into three parameter types: chart of accounts report parameters, report specific parameters and display parameters.

If there are questions related to running the report, requirements or reviewing results, please contact your (RC) fiscal officer or campus office. Each campus may have individual specific requirements related to the financial statement report, be sure to reach out to the related campus office or fiscal officer prior to quarter closings.

General Notes: Do not include any special characters other than approved wildcards in any of the below parameters. Additionally, do not run reports by campus as it will take up valuable computing services.

Click Save Parameter Settings to save your parameters for future use of this report. For instructions, review the Saving Parameter Set portion of the Controller's Office Reporting Tools page to learn how.