mission, including education programmes and research, and those which provide a valuable
source of revenue such as that generated from its endowment portfolio and fundraising
activities. The organisation also raises funds through loan financing for projects of a capital or
working capital nature.
From an accounting perspective, the international reach of the organisation requires financial
statements to be compiled under International Financial Reporting Standards (IFRS), Irish
(generally accepted accounting principles) GAAP and US GAAP.
2011/12 was another busy year for the organisation. 2012 saw the continuation of the
economic challenges of the last number of years with limited liquidity in the market place,
recessionary market conditions and falling property values, offset somewhat by a low interest
of growing income and tightly managing costs, while maintaining service levels.
year on year and has provided a level of reserves to support the College's strategy and to
protect against the negative effects of external factors.
organisation continued to implement
the financial strategy of growing
income and tightly managing costs,
while maintaining service levels.