The monthly Treasurer’s Report to the GNC is a record of financial activity that uses cash-basis accounting in which revenue is recognized when the money is received and expenses are recognized when money is spent. In addition, the Treasurer's Report to the GNC lists any Accounts Payable that were due during the month but not paid.
The monthly Accountant’s Report, posted to the GNC and available on the GPUS website, is a record of economic activity that uses accrual-basis accounting in which revenue is recorded when it is earned, regardless of when actual payment is received, and expenses are recorded when they are known, regardless of when they are actually paid.
The combination of the Accountant’s Report and the Treasurer’s Report provides maximum transparency and information to GPUS about our economic and financial status. Think of the Accountant's Report as the speedometer and the Treasurer's Report as the gas gauge.