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OVERVIEW OF THE FINANCIAL RECORDS SYSTEM

Accounting Services Section (ACT)

POLICY 1

Effective Date: 07/01/1996

Last Modified Date: 02/10/1996


General Description

The Financial Records System (FRS) is an integrated general and subsidiary ledger record keeping and reporting system. The system is designed to provide both the features of a budgetary control system (management information) and a fund accounting system (stewardship information). The system complies with the guidelines of both the National Association of College and University Business Officers (NACUBO) and the American Institute of Certified Public Accountants (AICPA).

System Features

This system is highly flexible with a variety of techniques which will allow all levels of management and operations access to timely financial information. In brief the techniques and features of FRS:


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