This document discusses the performative effects of introducing market logic and accounting practices into higher education. It specifically examines the Transparent Approach to Costing (TRAC) system implemented in the UK in 1999. TRAC uses activity-based costing to allocate institutional costs to departments and activities. The document argues that TRAC performs and shapes universities to act more like market-oriented firms. By making aspects of universities "calculable", TRAC transforms social relations and domesticates market reforms within higher education.