The Plant Accounting area consists of two teams: Project and Capitalization Accounting and Inventory Control. We are responsible for tracking, accounting, and reporting for long-term assets including capitalization of equipment and construction costs, managing asset records, recording depreciation, and accounting for capital projects. We also review contracts for proper accounting related to right-to-use assets such as building and equipment leases and subscription assets. Plant Accounting ensures compliance with the State of Connecticut Property Control Manual, University fiscal policies and procedures, and conformity with Generally Accepted Accounting Principles (GAAP) in the United States of America and the Governmental Accounting Standard Board (GASB).