Year End Overview

The NCAS General Ledger is maintained on the cash basis of accounting for most accounting processes during the fiscal year. At fiscal year-end, financial data on the General Ledger is converted from the cash basis to the modified accrual basis of accounting by recording adjustments to a thirteenth financial accounting period. Accrual adjustments to the thirteenth period are necessary to accurately present an agency's annual financial statements in accordance with Generally Accepted Accounting Principles (GAAP).