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
Completeness of control tasks ensures that all transactions are initially recorded on a control document and accepted for processing once and once only. Completeness controls are needed to ensure proper summarization of information and proper preparation of financial reports. To ensure proper summarization of recorded transactions as well as a final check of completeness, subsidiary ledgers and journals with control accounts need to be maintained. This is because individual transactions are the source of the ultimate product-financial reports.
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