UCD Accounting Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z List All Terms

Term Definition

Effort Effort is the portion of time spent on a particular activity expressed as a percentage of the individual's total activity for the institution.
Effort reporting certifications are processed in the Effort Reporting System. Instructions, best practices, and FAQ are available on the Effort Reporting Help web site.

Electronic Review A method that allows online ledger review, utilizing annotation, auto-annotation, statistical sampling, and electronic certification.

Employee Benefits Compensatory expenses associated with Object Consolidation SUB6 (e.g., medical, dental)".

Encumbrance A firm commitment or obligation placed against funds of a department, in the form of purchase orders or agreements, to cover a later expenditure required when goods are delivered or services are rendered.

Endowment Funds Funds for which a donor has stipulated, as a condition of a gift, that the principal is to remain intact and only the income from investment of the funds may be expended.

Equipment Generally, equipment is classified as a free-standing item having an acquisition value of $5000.00 or higher, and a normal life expectancy of one year or longer. See Policy and Procedure Manual, Section 350-65 for more information. Equipment can only be purchased on a Requisition (PR).

Expenditures (Expense) The cost of goods delivered, or services rendered, which are recorded as charges to the accounts of an activity or department.

Extramural Funds Funds (not regularly budgeted) received under grants, donations, or contracts from sources (private, state, federal, etc. ) outside the university.

Term	Definition
Effort	Effort is the portion of time spent on a particular activity expressed as a percentage of the individual's total activity for the institution. Effort reporting certifications are processed in the Effort Reporting System. Instructions, best practices, and FAQ are available on the Effort Reporting Help web site.
Electronic Review	A method that allows online ledger review, utilizing annotation, auto-annotation, statistical sampling, and electronic certification.
Employee Benefits	Compensatory expenses associated with Object Consolidation SUB6 (e.g., medical, dental)".
Encumbrance	A firm commitment or obligation placed against funds of a department, in the form of purchase orders or agreements, to cover a later expenditure required when goods are delivered or services are rendered.
Endowment Funds	Funds for which a donor has stipulated, as a condition of a gift, that the principal is to remain intact and only the income from investment of the funds may be expended.
Equipment	Generally, equipment is classified as a free-standing item having an acquisition value of $5000.00 or higher, and a normal life expectancy of one year or longer. See Policy and Procedure Manual, Section 350-65 for more information. Equipment can only be purchased on a Requisition (PR).
Expenditures (Expense)	The cost of goods delivered, or services rendered, which are recorded as charges to the accounts of an activity or department.
Extramural Funds	Funds (not regularly budgeted) received under grants, donations, or contracts from sources (private, state, federal, etc. ) outside the university.

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