ABSTRACT
To track the time dependence of cash flow and the use of non-cash resources in the enterprise, organizations use auditable financial tools that are standardized across the enterprise. As seen by the manager, financial accounting translates business events into the financial statement of the enterprise. That statement provides information about economic resources, claims on those resources, and changes in them. Research mangers and those in the enterprise with the status of principal investigator are responsible to be aware of the cycles of research funding in their respective regions. Managers must also be aware of the procurement rules that govern the conduct of proposers for contracts and grants. Funds may not be committed or spent unless authorized under contract with the customer, funding agency, or organization’s financial officer who controls internal funds.
