Accounting Terminology

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In reference to Fixed Income Securities: The excess of the par or face value of a fixed income security over the amount paid for the security, excluding purchased interest.
Distributed Expenses
The process by which the costs incurred by components of the University (while providing a service) are charged to the components receiving the benefit.
The process by which costs expended by certain departments for the benefit of other departments are transferred to those other departments.
Document Type
The Document Date is the date in which the business transaction for the Document. A Document Type is a two-digit alpha code that helps to identify the type of Document being created or displayed for a transaction in SAP. The Document Type can be found in the header of a Document and also in column on most line item reports.

A few common examples are listed below:
NB = Regular or "normal business" Purchase Requisition
SA = A manually keyed journal entry (journal voucher)
KN = Net Vendor, an invoice entered into SAP that DOES NOT reference to a Purchase Order document number, usually indicating a "standing order".
RN = Net Vendor Invoice, an invoice entered into SAP that references to a Purchase Order document number.
WA = Goods Issue indicating that materials have been issued from Inventory.
Duke Student
On forms, a Duke Student is defined as:
1. A person working toward a degree at Duke University registered in a full-time program (3 or more courses) whose primary purpose at Duke is to be a student.
2. A person in the Graduate School or Professional Schools qualifies as registered in a full-time program if registered
--A. For a minimum of three units after passing the preliminary examination for a doctoral degree, or
--B. For less than nine units to complete requirements for a master's degree
3. A person who is primarily an employee, and is taking courses at Duke on a part-time basis, does not qualify as a "Duke Student".
Duke Unique ID - DUID
The Duke Unique ID, also known as DUID, is a seven-digit number that identifies each employee at Duke and is used to replace the employee's Social Security Number in SAP and other systems at Duke. Your Duke ID can be found on the back of your Duke ID Card or the DUID website.
Endowment Expendable Code
An endowment expendable code, typically a WBS element found in the code series 39XXXXX (an "expendable fund"), is designated to receive endowment distributions (the "distributions") generated from a specific endowment cost center (code series 6XXXXXX). All distributions within an expendable fund must be used in accordance with the specific intent of the donor(s), set forth in the endowment agreement governing that endowment.
Expense Cost Center
Cost Centers in the 15xxxxx thru 180xxxx series.
Facilities and Administrative (F&A) Costs
The Government's Definition of F&A costs are costs that are incurred for common or joint objectives and, therefore, cannot be identified readily and specifically with a particular sponsored project, an instructional activity, or any other institutional activity. Examples include: salaries, wages and fringe benefits for clerical and administrative positions not allowable as direct costs, memberships, subscriptions, library books, periodicals, office supplies, equipment, janitorial services, photocopying charges (for general business use), postage, repair & maintenance, sanitation services, local telephone service, utilities.
Members of the academic staff at Duke University and Medical Center who hold the rank of Professor, Associate Professor, Assistant Professor, Associate, Instructor, or Lecturer. This includes positions designated as Visiting, Adjunct, Clinical, Consulting, Research, or Medical Research. Additionally, various "in residence" artists and scholars, graduate teaching assistants, instructional assistants, research assistants, and teaching assistants are considered "faculty" for payroll purposes. All faculty are in job family 40, Faculty.
First Cost
The purchase price of the securities plus any brokerage commissions, transfer taxes and any other expenses directly related to the purchase of the securities, but excluding any purchased interest.

Represents the capitalized value of each item of Plant and Equipment
Fiscal Year
The fiscal year begins July 1 and ends June 30. The fiscal year is divided into four quarters, each with three fiscal months. The first month of each quarter contains five weeks; the remaining two months each contain four weeks. Fiscal months begin on a Monday and end on a Sunday at midnight. The fiscal months of June and July will often deviate from this because the fiscal year always begins on July 1 and ends on June 30.
Fixed Income Securities
Marketable securities purchased primarily for their current yield rather than capital appreciation potential. These securities customarily have a stated interest rate payable periodically. Examples: first mortgage bonds, treasury notes, municipal bonds and corporate notes. Specifically excluded from this classification are convertible bonds and preferred stock.
Fixed-price award

 A fixed-price award is an agreement in which a fair price for the anticipated work is determined at the proposal stage of the project and is not subject to any upward or downward adjustment of awarded funds based on actual costs incurred. The award amount is pre-determined, based on fixed fee as defined in the agreement, and is paid to Duke on a schedule listed in the award agreement.  Fixed-price awards include, but are not limited to fixed fee contracts, deliverable-based agreements, non-industry clinical trial agreements, and other awards where there is no requirement that any remaining funds be returned to the sponsor.

A Fund tracks balance sheet information by fund (fund code in old terminology), including expense and revenue balances. A Fund represents the basic unit that comprises the entire organizational and functional structure of Duke. A Fund must have a corresponding Cost Center, Profit Center, or WBS Element (Project) for transaction to be received.
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