The two main inventory accounting systems are the “fiscal management system (FMS)” and the “accounting system (AS).” The fiscal management system (FMS) is a computer program that is programmed into the accounting system (AS). The primary purpose of these program is to determine what the correct balance is and how much money is in the company’s current operating account.
A couple of other things to note: The fiscal management system FMS is basically the accounting system used by the Treasury Department and can be used to make decisions based on the amount of money in the country.