In , higher education expert Dean O. Smith • demystifies basic accounting procedures, budgets, debt financing, and financial statements• explores more unusual financial topics, such as methods for calculating fringe benefit rates, bond refunding costs, and indirect cost allocations• shows that the use of university wealth is highly restricted by donors, bondholders, government regulators, and others• answers nuanced questions, like "How are USDA formula funds calculated?" and "Why does the university pursue more and more research funding when it loses money on every grant?"• illustrates financial calculations using realistic examples Some of these explanations are unavailable in print or online to anyone but a handful of professional accountants. Rigorous, detailed, and wide-ranging, is a unique and powerful resource.