UCD Accounting Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Term	Definition
Encumbrance	A firm commitment or obligation placed against funds of a department, in the form of purchase orders or agreements, to cover a later expenditure required when goods are delivered or services are rendered.
Equipment	Generally, equipment is classified as a free-standing item having an acquisition value of $5000.00 or higher, and a normal life expectancy of one year or longer. See Policy and Procedure Manual, Section 350-65 for more information. Equipment can only be purchased on a Requisition (PR).
Expenditures (Expense)	The cost of goods delivered, or services rendered, which are recorded as charges to the accounts of an activity or department.
Extramural Funds	Funds (not regularly budgeted) received under grants, donations, or contracts from sources (private, state, federal, etc. ) outside the university.

Term

Definition

Encumbrance

A firm commitment or obligation placed against funds of a department, in the form of purchase orders or agreements, to cover a later expenditure required when goods are delivered or services are rendered.

Equipment

Generally, equipment is classified as a free-standing item having an acquisition value of $5000.00 or higher, and a normal life expectancy of one year or longer. See Policy and Procedure Manual, Section 350-65 for more information. Equipment can only be purchased on a Requisition (PR).

Expenditures (Expense)

The cost of goods delivered, or services rendered, which are recorded as charges to the accounts of an activity or department.

Extramural Funds

Funds (not regularly budgeted) received under grants, donations, or contracts from sources (private, state, federal, etc. ) outside the university.

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