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The staff , however , cautions registrants that the judgments and assumptions made for purposes of applying SFAS 121 must be consistent with other financial statement calculations and disclosures and disclosures in MD & A. DOEd 's complex financial systems cannot produce the type of transaction - specific documentation required by NYS OMH and makes the process of retrieving supporting documentation unwieldy and administratively burdensome . SFAS No. 125 provides that liabilities may be derecognized only if ( 1 ) the debtor pays the creditor and is relieved of its obligation for the liability ( paying the creditor includes delivery of cash , other financial assets , goods , or services or reacquisition by the debtor of its outstanding debt securities ) or ( 2 ) the debtor is legally released from being the primary obligor under the liability.34 If a customer has the unilateral right to receive both ( 1 ) the seller 's substantial performance under the arrangement and ( 2 ) a cash refund of prepaid fees , then the refund obligation is not relieved upon performance of the service or delivery of the products . Regent Coleman said that the term , " other financial institutions , " should cover the spectrum . Unfortunately , during this difficult financial period the land endowment scheme originally established in 1907 to provide an alternative source of funds to help operate the University proved to be of no use . The Board of Regents adopted a formal policy which restricts the President and Chief Business Officer of each unit of the University System of Georgia and any other officer or employee who participates in the selection of the College 's or University 's depository ( bank ) from serving on the governing boards of banks or other financial institutions . To combat this problem , Cooperative Extension in Guilford County working collaboratively with High Point Housing Authority presented a financial management program to help individuals gain basic budgeting and other basic financial management skills . There currently is no policy which restricts other members of college or university management , who may have a role in the selection of a bank or other financial institution , from serving on the governing boards of banks or financial institutions . So you must assume it will take at least 2 weeks to open a bank account and make sure you have access to the money that you will need during this period by making financial arrangements similar to those you might make if you were a tourist .