Accounting procedures (41 - 50 of 122 items)
Financial Audit: Farmers Home Administration's Losses Have Increased Significantly
AFMD-89-20: Published: Dec 20, 1988. Publicly Released: Dec 20, 1988.
GAO examined the Farmers Home Administration's (FmHA): (1) financial statements for the year ended September 30, 1987; (2) internal accounting control system; and (3) compliance with laws and regulations.GAO found that, although the financial statements presented fairly the FmHA financial condition, FmHA: (1) had a significantly deteriorating financial condition, with an accumulated deficit of $36...
CPA Audit Quality: Arthur Young and Company's Work at Bell Helicopter Textron Inc.
AFMD-89-6: Published: Dec 19, 1988. Publicly Released: Dec 19, 1988.
In response to a congressional request, GAO reviewed certain aspects of a certified public accountant's (CPA) audits of a government contractor subsidiary's consolidated financial statements to determine whether the CPA firm: (1) considered government audit findings on the subsidiary from 1982 through 1985; and (2) audited the subsidiary's inventory and inventory control systems. GAO also provided...
Financial Audit: House Beauty Shop Revolving Fund Financial Statements for 1987 and 1986
AFMD-88-59: Published: Sep 7, 1988. Publicly Released: Sep 7, 1988.
Pursuant to a congressional request and a legislative requirement, GAO examined the balance sheets of the House of Representatives Beauty Shop Revolving Fund as of December 31, 1987 and 1986, and the related statements of operations and changes in financial position for the years then ended.GAO concluded that the financial statements presented fairly the financial position of the House Beauty Shop...
Financial Audit: Panama Canal Commission's Financial Statements for 1987 and 1986
AFMD-88-40: Published: May 12, 1988. Publicly Released: May 12, 1988.
GAO examined the Panama Canal Commission's (PCC) statement of its financial position as of September 30, 1987 and 1986, and the related statements of operations and non-interest-bearing investment, the changes in the U.S. government's investment, the changes in financial position, and the status of appropriations for the years then ended.GAO found that PCC did not obtain regulatory approval in adv...
State Department's Management of Its Travel Advance Funds
T-NSIAD-88-21: Published: Apr 27, 1988. Publicly Released: Apr 27, 1988.
GAO discussed the Department of State's efforts to resolve problems in its management of travel advance funds. GAO found that: (1) State did not have an effective system to monitor and report on travel advances and to collect unused travel funds; (2) State's delinquent travel advances increased from $10 million in 1985 to about $15.4 million in 1987; (3) State has collected only a small portion of...
Financial Reporting: Defense Agencies' Reports on Financial Position Need To Be Improved
AFMD-88-19: Published: Apr 14, 1988. Publicly Released: Apr 14, 1988.
GAO reviewed the Department of Defense's (DOD) compliance with GAO and Department of the Treasury annual reporting requirements, to: (1) determine whether DOD encountered any problems in implementing the requirements; and (2) identify actions DOD should take to improve compliance.GAO found that DOD: (1) did not develop the required guidelines for compiling financial reports; (2) did not verify the...
Financial Audit: House Office Equipment Service Schedules for Fiscal Year 1987
AFMD-88-29: Published: Mar 28, 1988. Publicly Released: Mar 28, 1988.
In response to a congressional request, GAO examined the schedule of purchased equipment accounts and the schedule of revenues and costs prepared from the records that the House Office Equipment Service and the House Finance Office maintained for the year ended June 30, 1987. GAO noted that, on October 1, 1986, the Service assumed responsibility for administering congressional members' district of...
Financial Management: Examples of Weaknesses
AFMD-88-35BR: Published: Feb 25, 1988. Publicly Released: Mar 28, 1988.
In response to a congressional request, GAO provided examples of weaknesses in the federal financial management structure.GAO found examples of a wide range of problems, including: (1) lack of centralized and agency financial management leadership and long-range planning; (2) inadequate financial management systems; (3) weaknesses in internal controls; (4) lack of periodic preparation and audit of...
Fund Accountability: Procedures Used for Selected Benefit/Mandatory Spending Programs Are Adequate
AFMD-88-30: Published: Jan 27, 1988. Publicly Released: Feb 29, 1988.
In response to a congressional request, GAO surveyed entitlement programs at selected agencies to determine whether the agencies: (1) charged expended program funds to the appropriate fiscal year accounts; and (2) exceeded the amount authorized for their programs.GAO surveyed six agencies' programs and found that the Departments of Health and Human Services and Education: (1) maintained proper fun...
Learning by New York's Example
136525: Jan 1, 1988
This article, which appeared in the GAO Journal, No. 2, Summer 1988, discusses the applicability of the New York State and New York City financial systems to the federal government. In 1979, the state Comptroller brought the state's budget, accounting, and reporting systems into line with generally accepted accounting principles (GAAP), installed a central accounting system, capped deficits and bo...