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15 views

study material

Uploaded by

Alfred Go-od
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Financial Accounting and Reporting (FAR) monitors all Education and General Funds, Designated Funds,

Auxiliary Funds, Restricted Funds, and Agency Funds. FAR is responsible for maintaining a high level of
understanding of the rules and regulations and providing technical assistance to the departments.

FAR ensures the financial integrity of The University of Texas at Austin by managing funds in accordance
with sound accounting principles and appropriate policies, laws, and regulations, providing accurate and
timely reports on these funds, and ensuring costs charged to the university’s various missions are
properly allocated. This is accomplished by

 Maintaining a high level of understanding of the rules and regulations.

 Providing technical assistance to departments

 Reviewing new laws and policies to determine their impact on reporting procedures

 Preparing various financial reports and analyses for both internal and external users

 Preparing the Monthly Financial Report.

 Preparing the Annual Financial Report.

 Processing year-end accounting transactions (year-end accrual entries)

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