Development Plan - Accounting Office

I – BACKGROUND The UEP Accounting office is considered to be one of the important units of the institution. The office establish and maintains, on behalf of the administration, an accurate accounting system, develo9ps a sound internal accounting controls to safeguard the university assets from loss through unauthorized use or disposition and assume the proper recording of financial transactions in accordance with Governmental Generally Accepted Accounting Principles (GAAP). The Accounting office is situated on the first floor-leftwing of the UEP-Administration building. The unit is headed by a young, brilliant, and dynamic man, with sixteen (16) competent employees under his supervision, who in their own way manage to be an asset of the university. The staff interacts on a daily basis with other departments within the Finance and Administrative area, such as the Budget Office, Cashiers Office, Supply Office, Office of the President, Office of the Resident Auditor and other administrative campus wide. The Accounting office provides numerous services in support of the finance activities of the University. These services are beneficial to a wide variety of constituents including students’ financial staff, executive management, trustees, auditors, etc. Listed below are examples of services: 1) Daily monitoring, and verifying of the accuracy of the finance system to protect the integrity of financial records (an example of the main services the office is rendering). This ensures that the finance system is accurate and that up-to-date information is available for users making account inquiries and fiscal decisions. It provides reliable information for reporting purposes and enables the university to avoid audit findings. 2) Reconciling all bank accounts and other selected general ledger accounts on a regular basis is also a concern of the office. Bank accounts are reconciled to ledger balances so that the university’s actual cash position is