The second volume of the revised "Higher Education Finance Manual" (HEFM), this data users' guide is oriented to the nonaccountant and describes the kinds of information about postsecondary education that can be derived from institutional financial data. Contents include: a description of fund accounting for higher education, a discussion of the relationship between accounting data and programmatic financial data, a guide to the implementation of the HEFM guidelines at the state level, and a guide to the implementation of the HEFM guidelines at the institutional level. An overview of how to understand and use institutional reports explains each of the three traditional financial statements: the balance sheet, the statement of changes in fund balances, and the statement of current funds revenues, expenditures, and other changes. For each financial statement, its purpose, format, definition of terms used, and limitations are discussed. The discussion of implementation at the institutional level is based on written comments by key persons at seven institutions that have implemented the HEFM guidelines. Additionally, the relationship between the most widely used structure for operational data in higher education (the HEFM functional expenditure categories) and the most widely used structure for programmatic data in higher education (the NCHEMS Program Classification Structure) is examined. (SW)