The document discusses the general ledger and reporting system (GLARS). It describes the key activities in GLARS as updating the general ledger, posting adjusting entries, preparing financial statements, and producing managerial reports. It also discusses controls to ensure accuracy, security of financial data, and timely performance. Threats to GLARS include errors, data loss or disclosure, and poor performance. Tools to support management include the balanced scorecard, data warehouses, and effective financial graphs.