The recording and reporting of activities and events affecting the money of an administrative unit and its program Specifically, it is concerned (1) with determining what accounting records are to be maintained, how they will be maintained, and the procedures, methods, and forms to be used; (2) with recording, classifying, and summarizing activities or events; (3) with analyzing and interpreting recorded data; and (4) with preparing reports and statements which reflect conditions as of a given date, the results of operations for a specific period, and the evaluation of status and results of operation in terms of established objectives
Includes: General Ledger (G/L), Accounts Payable, and Accounts Receivable Accounts Payable pays for purchases, i e , lab equipment Accounts Receivable accepts payments, i e , for contract fees charged to outside companies Here is an overview of the modules which are a part of AMS Here is an overview of the modules which are a part of FIS
The recording and reporting of activities and events affecting the money resources of an administrative unit and its program Specifically, it is concerned with 1) determining what accounting records are to be maintained, how they will be maintained, and the procedures, methods, and forms to be used; 2) recording, classifying, and summarizing activities or events; 3) analyzing and interpreting recorded data; and 4) preparing statements which reflect conditions as of a given date, the results of operations for a specific period, and the evaluation of status and results of operations in terms of established objectives