UK universities ‘block funding bids’ because of overhead costs

The same old cliches from people whose use accountancy techniques as gospel, rathr than simply adding up and taking away. The huge fuss that universities - including UCL - are making over losing EU funding is completely contrary to statements made in the article. Any sane business would stop making a product that lost money, rather than keep on selling it to improve world status rankings. And - generally the same - universities claim they are making a loss on teaching. Which begs the question - if teaching and research are both loss making - how do universities stay afloat? We all know the 'answer', which lies in flawed logic. By amortising fixed costs of administration across a variable rate of teaching and research income, you can 'prove' either is loss making. The logical answer, then, is to stop both. Now, despite a fixed administration cost, the universities should break even, despite having zero income. A good job the accountants are not in charge of everything.