| Assets Cash Accounts Receivable Inventory | LESS | Liabilities Accounts Payable Deferred Revenue | EQUALS | Fund Balance Beginning Fund Balance Revenues Expenses Fund Additions Fund Deductions |
| Assets | Items owned by the University, such as, cash, accounts receivables, inventory, equipment, stocks, bonds, etc. | |
| Accounts Receivable | Money owed to the University for goods or services that have been provided by the University. Example: The Student Union caters an event before payment is received. The money owed to the Student Union is an Accounts Receivable. | |
| Inventory | Equipment owned by the University or goods available for resale. Example 1:You purchase a computer for your department. The computer is capitalized (coded with a capital object code) and becomes part of the University's inventory. Example 2:The Bookstore buys books to sell. The books are inventory purchased for resale. |
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