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Pursuant to a legislative requirement, GAO provided information on the effectiveness of the Financial Management Service's (FMS) internal controls, focusing on the processes for: (1) recording adjusting journal entries (adjustments) needed to accurately reflect FMS' records of agencies' cash receipts and disbursements; (2) opening, amending, or closing agency location codes (ALC) which identify agencies and individual reporting locations within agencies on monthly reports of cash receipts and disbursements; and (3) assigning or discontinuing account symbols, which are used to identify individual appropriations or spending authorizations.

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