Word: gordons
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...Gordon said yesterday that the procedure is "not generally accepted." The report makes it appear as though the University is running a large deficit, he said, although standard accounting practices would show only a small loss, or even surplus...
...corporation does it this way," Gordon said. "What you do in normal accounting is you depreciate the cost of the facility, not the replacement value. This is unconventional...It's a way of squirreling away money...
...Gordon said the University may be including replacement values in order to make donors believe Harvard is in worse financial shape than it actually...
...Very few people understand [the technique];they think Harvard is running a deficit and theyare shocked," said Gordon. "This could be apositive in trying to get money in the big[capital] campaign...
...Gordon also criticized the report's failure todisclose Harvard's major stock holdings, apractice the University ended last year...