The Central Accounting Reporting System (CARS) addresses the central accounting and reporting functions and processes associated with budget execution, accountability, and cash/other asset management. This includes the collection and dissemination of financial management and accounting information from and to federal program agencies.
It also includes the business processes in FMS that are related to ledger accounting for each appropriation, fund, and receipt account's Fund Balance with Treasury, General Ledger accounting for the cash and monetary assets of the government, and the preparation of the Monthly Treasury Statement and the U.S. Government Combined Statement and Appendix.
In addition, CARS will improve information timeliness and accuracy to support improved financial analysis and decision-making.
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