Part II-UNM Accounting Basics
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Standard Accounting Resource Manual (SARM)
MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131
MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131
The accuracy of amounts and account classification is achieved by establishing control tasks to check calculations, extensions, additions, and account classifications. The control objective is to be certain that each transaction is recorded at the correct amount, in the appropriate account, in the right time period. Control tasks, which ensure that transactions are recorded and reported in the proper accounting period, are essential to accurate financial reporting.
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