Financial accounting methods fall short of fully accounting for the relative sustainability of college and university operations. Management of social, environmental, and economic performance will be aided by changes to and new developments in financial accounting practices to complement other indicators of sustainability.

Stresses the importance of common understandings of cost definitions and data collection in order to create reliable databases with optimal utility for inter-institutional analysis. Examines definitions of common expenditure categories, discusses cost-accumulation rules governing financial reporting, and explains differences between direct costs…

Measurement of the effectiveness and efficiency of college business affairs offices demands attention at all times and must deal with the institution's specific needs and considerations. Alternative approaches to data collection and interpretation are available, but all should focus on cost, confidentiality, user satisfaction, and service…

Argues that full-cost models in higher education fail to account correctly for capital and financial aid expenditures. Urges full accounting of all cost drivers that impact on higher education expenditures, e.g., operating costs, maintenance costs, physical capital costs, the current replacement value of capital stock, and the opportunity cost of…