Fund accounting, currently used by many colleges and universities to report their economic performance, may obscure rather than clarify the facts for institutional constituencies. Global accounts are more thorough and descriptive of the institution's financial status, and can be used in conjunction with traditional accounting. (MSE)

This article notes that recent changes in medical schools, due to funding trends and decreased demand for specialist services, have prompted dramatic changes in roles and rewards of faculty. Strategies for managing the changes are outlined for four areas: promotion and tenure, moving toward collective thinking, refining institutional mission and…