...accounting for certain loan transactions. Summaries of the material internal control weaknesses follow: Education did not have adequate internal controls...of these weaknesses, Education had to resort to a cosily, labor-intensive, and time-consuming process involving manual and automated procedures to prepare...

...its fiscal year 1998 financial statements. The system's reported weaknesses included its inability to perform an automated year-end closing process and...labor-intensive and time-consuming process involving extensive and complex analyses and ad hoc procedures to prepare financial statements for fiscal year...

...Summaries of the material internal control weaknesses follow: • As in prior years, Education does not have adequate internal controls over its financial...process and directly produce consolidated financial 'A material internal control weakness is a reponable condition that precludes the entity's internal...

...its operations in fiscal year 1998. Weaknesses in the new accounting system included the inability to perform an automated year-end closing process and...statements as would normally be expected from such systems. The systems limitations contributed to the delay in Education submitting its fiscal year 1998 financial...

...significant limitation of this new accounting system was its general ledger system, which was unable to perform an automated year-end closing process and...directly produce consolidated financial statements. Because of these system weaknesses, Education had to resort to a labor-intensive and time-consuming...

...Education implemented a new accounting system that had several limitations, including that it could not perform an automated year-end closing process and...directly produce consolidated financial statements. As a result. Education decided to purchase a new accounting system. In 2002. Education completed implementation...

...its operations in fiscal year 1998. Weaknesses in the new accounting system included the inability to perform an automated year-end closing process and...statements as would normally be expected from such systems. The systems limitations contributed to the delay in Education submitting its fiscal year 1998 financial...

...adequate internal controls over its financial reporting process. Its general ledger system was not able to directly produce consolidated financial statements...normally be expected from such systems. Because of this weakness. Education once again had to resort to a costly, labor-intensive, and time- consuming...

...significant limitation of this new accounting system was its general ledger system, which was unable to perform an automated year-end closing process and...directly produce consolidated financial statements. Because of these system weaknesses, Education had to resort to a labor-intensive and time-consuming...