Part III - UNM Finance: Practical Applications

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Standard Accounting Resource Manual (SARM)

MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131

Common Issues and Errors

Common issues and errors with inventory include some of the following:

  • Departments neglecting to keep an updated list of assets, and where they are
  • Departments neglecting to track disposed or transferred assets
  • Department neglecting to accurately complete a physical inventory within the timeframe Inventory Control gives them each year
  • Department failing to return information for New Assets within the two-week timeframe requested