This course will walk you through the key activities that Departments, Laboratories, and Centers (DLCs) perform during the fiscal year-end close in preparation for publishing MIT's financial statements and the Treasurer's Report. It is provided to help ensure that MIT's audited financial statements are in compliance with Generally Accepted Accounting Principles (GAAP).
This course covers the basic knowledge and skills needed for financial management at MIT.
This course is currently being updated and revised.
One of the most important parts of your role is to know the elements of an expense or revenue transaction. Financial Review and Control (FRC) helps you to understand this and the key elements of risk at MIT.
This online training will show the basics of FRC and how to recognize what constitutes effective review.
Completion Time: Approximately 30 to 45 minutes