Purpose and Scope
The purpose of the General Accounting initiative is to provide guidelines for establishing and maintaining the baseline standards for the General Accounting processes of the University of North Carolina (UNC) System. The focus of the process improvements encompass four sub-processes in transactional processing and two sub-processes related to financial reporting. The four sub-processes for transactional processing are: 1) Bank Account Reconciliation, 2) Journal Entries, 3) Maintain Fund Accounts, and 4) Maintain Daily Cash. The two financial reporting sub-processes are Month End Close and Year End Close.
The General Accounting Office is dedicated to assisting campus leadership with applying the transactional processing and financial reporting standards to improve the general accounting processes in all of the UNC system campuses.
For more information regarding the General Accounting Initiative please contact the Process Team Lead:
Cliff Flood firstname.lastname@example.org