Accounting standards (71 - 80 of 189 items)
Canceled DOD Appropriations: $615 Million of Illegal or Otherwise Improper Adjustments
GAO-01-994T: Published: Jul 26, 2001. Publicly Released: Jul 26, 2001.
This testimony reviews the Department of Defense's (DOD) handling of appropriated funds from expired appropriation accounts. In 1990, Congress changed the law governing the use of appropriation accounts because it concluded that controls over them were not working. Without adequate controls, Congress was concerned that agencies could disburse money in amounts and for purposes that it had not appro...
Financial Audit: Accounting and Internal Control Issues Identified During GAO's 2000 FDIC Financial Statement Audits
GAO-01-905R: Published: Jun 28, 2001. Publicly Released: Jun 28, 2001.
In May 2001, GAO issued its opinions on the calendar year 2000 financial statements of the Bank Insurance Fund, Savings Association Insurance Fund, and FSLIC Resolution Fund. GAO also issued its opinion on the effectiveness of the Federal Deposit Insurance Corporation's (FDIC) internal control as of December 31, 2000, and its evaluation of FDIC's compliance with selected provisions of laws and reg...
Securities and Exchange Commission: Reviews of Accounting Matters Related to Public Filings
GAO-01-718: Published: Jun 14, 2001. Publicly Released: Jun 14, 2001.
This report reviews the Securities and Exchange Commission's (SEC) resolution of accounting issues submitted by companies that have or are contemplating publicly traded securities. Companies are required by law to register their securities with SEC by filing a registration statement. This statement must contain financial and other information on the securities and the issuer. SEC's Office of the C...
FASAB News, Issue 68, June-July 2001
A01441: Jun 1, 2001
GAO provided information on the Federal Accounting Standards Advisory Board's recent actions, meetings, and practices...
FASAB: Implementation Guidance on SFFAS 10, Accounting for Internal Use Software: Technical Release 5
A01245: May 14, 2001
This document provides guidance to federal entities on the implementation of Statement of Federal Financial Accounting Standards 10, Accounting for Internal Use Software...
FASAB: Change in Certain Requirements for Reconciling Obligations and Net Cost of Operations: Amendment of SFFAS 7, Accounting for Revenue and Other Financing Sources
A00901: Apr 1, 2001
The Federal Accounting Standards Advisory Board published an exposure draft of a proposed statement of federal accounting standards. This standard amends the Statement of Federal Financial Accounting Standards 7 by deleting a requirement regarding an element of reconciling budgetary and financial accounting information...
Senate Office of Public Records Revolving Fund Review Procedures
GAO-01-390R: Published: Feb 20, 2001. Publicly Released: Feb 20, 2001.
GAO reviewed whether the Senate Office of Public Records revolving fund's reported fiscal year (FY) 2000 receipts and disbursements and fund balances at the beginning and end of the review period were complete and accurate. GAO found that FY 2000 cash receipts for the Senate Office of Public Records were supported by appropriate documentation and were accurately recorded, summarized, and reported...
Financial Management: Reporting of Army Conventional Ammunition as Operating Materials and Supplies
GAO-01-45R: Published: Oct 24, 2000. Publicly Released: Oct 24, 2000.
The Army's current accounting practices and manual procedures for calculating operating materials and supplies (OM&S) balances caused accounting errors that understated the Army's fiscal year 1999 OM&S balance by at least $1.5 billion. In addition, ammunition held at retail-level installations for training purposes was excluded from the financial reports...
Federal Accounting and Reporting: Framework for Assessing the Reliability of Budget Execution Data Is Not Yet Fully Implemented
GAO-01-43: Published: Oct 6, 2000. Publicly Released: Oct 6, 2000.
Beginning with fiscal year (FY) 1998, federal agencies were required to prepare a Statement of Budgetary Resources (SBR) as one of their primary financial statements. GAO's review of 22 major budgetary accounts at 10 agencies, constituting approximately 77 percent of FY 1999 net outlays, showed that the federal accounting and reporting framework was properly implemented for 14 accounts constitutin...
Financial Audit: Accounting and Internal Control Issues Identified During GAO's 1999 FDIC Financial Statement Audits
AIMD-00-271R: Published: Aug 11, 2000. Publicly Released: Aug 11, 2000.
Pursuant to a legislative requirement, GAO provided information on internal control weaknesses identified during GAO's audits of the Federal Deposit Insurance Corporation's (FDIC) 1999 financial statements.GAO noted that there were: (1) losses in the securitization-related escrow account; (2) errors in the allowance calculation for FDIC receivables; and (3) weaknesses with account transaction cont...