Abstract

The purpose of this study is to find out the problems in and improvement plans for the “Special Rules on the Finance and Accounting for Private Universities”, which are the accounting standards currently applied to private universities. This study not only analyzes the special rules on the finance and accounting but also compares the accounting standards of national universities and private universities that provide essentially the same educational services. As a result of the analysis, adjustments seem to be necessary so that accounting can be carried out uniformly among universities through changes in titles in the special rules on the finance and accounting, redefinition of related terminologies, and reorganization of account title systems. In addition, problems in the production of accounting information were found such as budget accounting －centered accounting, statements of operation that cannot indicate operational performance, and difficulties in the preparation of consolidated financial statements. Therefore, in this study, budget accounting and financial accounting were separated from each other so that written settlements of accounts concerning revenue and expenditure are prepared for budget accounting and financial statements are prepared for financial accounting. In addition, this study presented a plan to compose financial statements with statements of financial position, operational invoice, statements of changes in operational differences, and annotations. This study also presented a plan to compare between cash basis operational performance and accrual basis operational performance. Finally, this study presented other plans such as replacing consolidated financial statements with combined financial statements. This study will be helpful when the policy authorities establishing private universities’ accounting standards reorganize the special rules on the finance and accounting applied to private universities.

Keywords

• Private school law
• Financial accounting rules for private school institutions
• Financial accounting special rules for private school institutions

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