Institutional Accounts

1000-1499 Series: Current Assets

All liquid assets or that portion of which are due within one year from the date reported on a balance sheet.

1000 - Cash In Bank  
The amount of cash in the bank per the University's bank statements.
1030 - Cash and Change Advances  
Cash advanced to UI departments for use as cashier change funds or for program advances as part of the department's mission.
1050 - Investments Current  
Short-term investments held by the University.
1051 - Investments Premium Current  
The unamortized portion of premiums paid on the purchase of an investment.
1052 - Investments Discount Current  
The unamortized portion of discounts received on purchase of an investment.
1053 - Investments Interest Purch Cur  
Interest receivable purchased with any investment.
1054 - Cash Equiv  
Short term highly liquid investments that are readily convertible to known amounts of cash and have a maturity of 3 months or less.
1090 - Accrued Interest Receivable  
Interest earned but not collected.
1100 - Accounts Receivable  
Amounts due to the University, primarily for sales of goods or services.
1101 - Acnts Rec Unallocated Receipts  
Used to record the amount of dollars received, but not yet posted to the UIHC patient accounts receivable system.
1102 - Accts Receivable-Credit Card  
Amounts due to the University from the credit card merchant for sales being paid by credit card. This amount is normally paid within 2-3 days.
1105 - Allowance For Doubtful Account  
An estimate of the amount of bad debt included in 1100 - ACCOUNTS RECEIVABLE (this IACT carries a credit balance).
1106 - Allow For Contractual Adjstmts  
An estimate of the amount of contractual adjustments not yet recognized in the Accounts Receivable balance for patient services. This IACT carries a credit balance. Use this account in conjunction with 4370 - PATIENT SVC-CONTRACTUAL ALLOWANCES (CONTRA).
1107 - Allow For Transfer To Indigent  
An estimate of the amount of indigent patient charges not yet recognized in the Accounts Receivable balance for patient services. This IACT carries a credit balance. Use this IACT in conjunction with 4375 - PATIENT SVC - CHARITY CARE (CONTRA).
1110 - Accts Rec-Univ Billing Office  
Claim for which the University Billing Office is the creditor, but has obtained no written statement of the obligation from the debtor such as a signed note (Accounts Receivable includes amounts due from states other than the State of Iowa).
1111 - Allow Dbtful Accts-UBO  
(Central Use Only) An estimate of the amount of bad debt included in 1110-ACCTS REC-UNIV BILLING OFFICE. This IACT carries a credit balance.
1112 - Accts Rcvbl-Student Loans-ECSI  
Amounts due and billed for student loans. The amounts not yet due from the debtor for student loan obligations remains in 1530 - NOTES RECEIVABLE.
1119 - Allowances Other  
Allowance for reduction in value of equity with third parties. Used in conjunction with 1590 - EQUITY WITH THIRD PARTIES.
1120 - Accounts Receivable Other  
Miscellaneous Accounts Receivable for items not covered by the other accounts receivable IACTs.
1140 - Due From State  
Amounts due from the State of Iowa or one of its agencies.
1145 - Due From Dep Of Transportation  
Amounts due from Iowa Department of Transportation.
1150 - Due From U S Government  
Amounts due from a U.S. government agency.
1160 - Due From Third Parties  
Reimbursement expected from third party payers for patient services when allowable reimbursement exceeded interim payments during the past year.
1170 - Interdepartmental A/R  
The balance of an obligation due from another entity within the University. This IACT must be used in conjunction with IACT 2170-Interdepartmental A/P. The WhoKey that has incurred the obligation must use IACT 2170.
1210 - Deposits With Trustee  
Funds held by a trustee for compliance with bond resolutions or other legal agreements.
1300 - Inventories Supplies  
Goods purchased either for resale or as a supply held for future consumption.
1350 - Prepaid Expense  
Expenses paid but not recognized.
1356 - Other Deferred Outflows  
Other deferred outflows. Current usage is for a government (UIHC) acquiring another entity. Amount represents the difference between payment amount and net position acquired, i.e., difference between payment amount and tangible assets. This difference is defined as goodwill, in this case, primarily the value of staff acquired. GASBS 69, pages 4 & 13.
1357 - Pension Deferred Outflows  
Pension deferred outflows derived from (1) difference between expected and actual experience, (2) change in assumptions and (3) deferred outflows of resources from proportion change in plan employer contributions. GASBS 68, pages 33-34.
1358 - Debt Refunding Loss  
To record the debt refunding loss calculated based on the formula prescribed by GASB. This amount is reported as a deferred outflow on the Statement of Revenues, Expenses, and Changes in Net Position. GASBS 65, pages 5-7.
1390 - Designated Assets For Cur Liab  
The amount from assets-whose-use-is-restricted that is required to fund current liabilities.
1430 - Notes Receivable Current  
Current portion of claim for which the University has obtained a written statement of obligation from the debtor. This IACT will typically appear in the Loan Fund and be used with 1530 - NOTES RECEIVABLE.
1435 - Allow for Doubtful Notes Curr  
An estimate for the Current Portion of the amount of bad debt included in 1430 - NOTES RECEIVABLE CURRENT. This IACT carries a credit balance.

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