2013 - 2nd Quarter

Compliance Training

By Ericka F. Kranitz, Director of Financial Compliance Training

On-Line Training

Are you new to the University or have you recently changed positions with different responsibilities?  The Controller’s Office has several compliance training sessions available covering various financial accounting and sponsored program activities.

There are several new sessions available related to financial accounting.  These provide a good understanding of the financial activities of the University.

  • Principles of Accounting – The Accounting Process and Accounting Equation – This is an introductory session defining basic accounting terms and how these relate to the University’s operations.  Several common transactions are provided as examples to understand the accounting equation.
  • The Accounting Cycle and Fiscal Year End Closing – This session expands upon the Principles of Accounting and discusses the activities and responsibilities during fiscal year end close.
  • PeopleSoft Transaction Types – This session discusses the different types of transactions, such as journal entries and correcting entries, and provides examples of how they should be processed.
  • Segregation of Duties – This session has been updated and covers the concept of segregation of duties and the different roles.  Various examples and common issues are discussed.
  • Payroll Reconciliation – This session highlights the changes in the APM 55.60.02 effective July 1, 2012 and provides examples of several tools available to reconcile payroll.

There are also several online modules available covering the basic compliance requirements for sponsored programs and financial accounting.  Each of these sessions are about 15 minutes and available on the Financial Compliance Training website and myLearn.

Please contact Ericka F. Kranitz (kranitze@umsystem.edu), Director of Financial Compliance Training at the UM System to discuss your training needs and other topics you would like to see included.

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