2022 Accounting Principles Council

Established to support NACUBO’s accounting guidance and advocacy efforts, the Accounting Principles Council (APC) consists of volunteer representatives from member institutions. The volunteers are accounting and finance professionals knowledgeable in matters such as financial accounting standards and external financial reporting (FASB and GASB), managerial accounting and reporting, and financial analysis. The APC serves as an advisory body to and is appointed by the President of NACUBO. Members of the APC serve on various project teams and standing committees, including: Following activities of the Financial Accounting Standards Board and Governmental Accounting Standards Board; Audit Issues and Internal Controls; and Regulatory and Compliance Issues. Past and notable projects include: higher education's Blank Slate reporting project; endowment accounting issues; Financial Responsibility and the Department of Education; GASB/FASB differences; Sarbanes-Oxley guidance; preparing for an audit; developing an operating measure for independent institutions; benchmarking; interim financial reporting; GASB/NASACT committees; and audit issues.