>>20175967 (You) Harvard’s Claudine Gay set to keep her nearly $900K annual salary despite resigning as university presidentPN
First of all,do you see one white personon the cover of the 2021 Harvard Financial Report?
Anons, are their any Accountants or advanced Accounting/Auditing here to explain what their change of Accounting practices does, it seems like it’s all smoke and mirrors. Notice they are just speaking about the endowment below, which in 2021 was $53.2 billion.
Accountant anons, does this make sense (quote from screenshot on investments)?
"The market approach derives investment value through comparison to recent and relevant market transactions with similar investment characteristics. The cost approach is utilized when the cost of the investment is determined to be thebest representation of fair value. This method is typically used for newly purchased or undeveloped assets. When applicable, the University examines market data and collaborates closely with independent appraisers to arrive at the best estimation of fair value for each respective asset. The HMC Board of Directors discusses the valuation process and results with HMC management, and makes determinations on significant matters impacting valuation that may arise from time to time."
“fair market value”
noun
-
The price, as of a commodity or service, at which both buyers and sellers agree to do business.
-
The price at which the buyer and seller are willing to do business.
The American Heritage® Dictionary of the English Language, 5th Edition • More
(Some anons said yesterday, anon can only use PB or PT when referring to another post, I've been usingPN(past notable) for a year or more, because it makes sense and if an anon wants to read or investigate the original post, they just look in notables. (And no one complained until yesterday to make a big deal out of nothing) So I will continue to use PN, as others do, and we have used because, it's thoughtful for anons that have an interest. get used to it)