Prium Vienna 2008 Full Cost Model

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Towards implementing a full-cost model of accounting at the University of Vienna, by Alexander Hammer

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Prium Vienna 2008 Full Cost Model

  1. 1. Towards implementing a full-cost model of accounting at the University of Vienna Alexander Hammer Head of Accounting and Finance
  2. 2. Legal Background <ul><li>Universities are legal entities in public law since 2004 </li></ul><ul><li>Large autonomy for universitites </li></ul><ul><li>Performance agreements (contracts in public law) between universitites and Federal Government </li></ul><ul><li>Funding of universities by Federal Government: allocation of a global budget for a three-year period </li></ul><ul><li>Formula-based budget (based on performance indicators such as graduates, third-party funding etc.: 20% of global budget </li></ul><ul><li>Yearly performance reports: submission with annual financial statements and based on performance agreements </li></ul>
  3. 3. Financial Management (Universities Act 2002) <ul><li>Universities manage their financial affairs in their own name and for their own account </li></ul><ul><li>Federal government not liable for universities ’ debts </li></ul><ul><li>Large autonomy in financial matters </li></ul><ul><li>Accounting system according to Commercial Code (change in accounting principles: switch from government cash accounting to commercial accounting) </li></ul>
  4. 4. Upcoming Issues for Universities <ul><li>Separation of teaching and research budgets? </li></ul><ul><li>Allocation of teaching budget based on number of students (per capita funding)? </li></ul><ul><li>Allocation of research budget based on performance indicators? </li></ul><ul><li>Introduction of full-cost models in research projects (EU grants etc.) </li></ul>
  5. 5. Full-cost accounting at the University of Vienna <ul><li>Perfect integration with accounting system and existing cost centers </li></ul><ul><li>Definition of model in order to allocate overhead costs (personnel costs, rental costs, general and administrative costs etc.) </li></ul><ul><li>Definition of model (based on working time) in order to separate teaching and research costs </li></ul><ul><li>Certification of full-cost model by European Union planned in 2009 </li></ul>

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