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Classification and recording of research revenue

Classification and recording of research revenue. Overview. Current classification system Emerging issues in recording and classifying research revenue Problems in the current system Solutions to the problems Other issues not identified. Current classification system .

erin-larson
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Classification and recording of research revenue

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  1. Classification and recording of research revenue

  2. Overview • Current classification system • Emerging issues in recording and classifying research revenue • Problems in the current system • Solutions to the problems • Other issues not identified

  3. Current classification system • Fund type is used to identify the Competitive, industry and other public sector revenue sources • GL account is also used to identify the revenue source • The GL account structure does not reflect any meaningful information that can be used • The primary emphasis is to get the Fund type correct, the GL account is secondary

  4. Current CI Structure in SAP FM Research Commonwealth Research Grants Research Grants Commercial Research Research Donations

  5. Emerging issues and interest in research revenue • New DVC Research, Prof. Edwina Cornish, is requiring more analysis of research revenue • Emphasis on commercial research • Setting of targets for research • Easier reporting and budgeting • Complement DEST classification and cross institution benchmarking

  6. Problems in the current system • GL account classification does not match fund type classification • No restrictions in place to fix errors at the transaction entry • Departmental workarounds to tackle delays in contract review and classification • New staff not familiar with process and guidelines

  7. SAP research revenue recording

  8. Solutions to the problems • Create a better structure for GL accounts • Correct Fund Type classification • Cleanup any errors in classification for 2004 • Place restrictions to correct data entry errors • Provide guidelines and training

  9. Proposed GL Structure Research Revenue Competitive ARC Research Competitive NHMRC Research Competitive Commonwealth Research Competitive Non Commonwealth Research Other Public Sector Local Government Other Public Sector State Government Other Public Sector Other Commonwealth Government Industry Australian Industry Australian Non-profit and Individuals Industry International Industry International (Competitive) Cooperative Research Centres Linkage Infrastructure Equipment and Facilities

  10. What’s going to happen? • New GL structure will be created ASAP • 6 new GL accounts • Revenue will be moved to the correct GL account – by end of July • Any errors will be fixed - by end of July • Fund type will be reclassified – CRC and LIEF • Guidelines will be in available soon

  11. SAP research revenue recording - Fix

  12. Feedback • Any questions or issues • Suggestions for improvement

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