Accounting procedures (21 - 30 of 90 items)
CFO Act Financial Audits: Navy Plant Property Accounting and Reporting Is Unreliable
AIMD-96-65: Published: Jul 8, 1996. Publicly Released: Jul 8, 1996.
GAO reviewed the Navy's fiscal year (FY) 1994 consolidated financial reports, focusing on the areas contributing to the inaccurate financial reporting of the Navy's plant property account balance.GAO found that: (1) substantial weaknesses in the Navy's financial reporting systems caused the Navy to submit inaccurate FY 1994 financial reports; (2) the Defense Finance and Accounting Service (DFAS) e...
CFO Act Financial Audits: Increased Attention Must Be Given to Preparing Navy's Financial Reports
AIMD-96-7: Published: Mar 27, 1996. Publicly Released: Mar 27, 1996.
GAO reviewed the Navy's fiscal year (FY) 1994 consolidated financial reports, focusing on how the Navy and the Defense Finance and Accounting Service (DFAS) can: (1) improve the credibility of the Navy's FY 1995 financial reports; and (2) enhance their ability to prepare the Navy's FY 1996 annual financial statements.GAO found that: (1) the Navy's FY 1994 consolidated financial reports were not re...
DFAS-Kansas City Financial Reporting
AIMD-96-34R: Published: Feb 12, 1996. Publicly Released: Feb 12, 1996.
GAO provided information on how the Defense Finance and Accounting Service's (DFAS) Kansas City Center could improve the quality of data used to manage, monitor, and report on the Marine Corps' financial operations and condition. GAO noted that in response to its recommendations, DFAS-Kansas City agreed to: (1) calculate the Marines' allowance for doubtful accounts receivable using an analysis of...
Navy Negative Undelivered Orders
AIMD-96-37R: Published: Feb 12, 1996. Publicly Released: Feb 12, 1996.
GAO examined the Navy's appropriation balances for undelivered orders and related balances for accounts payable as of September 30, 1994. GAO noted that: (1) Defense and Finance Accounting Service (DFAS)-Cleveland reduced two appropriation balances for undelivered orders by $72 million; (2) negative balances for undelivered orders could indicate that orders were not properly recorded, disbursement...
Financial Management: Challenges Facing DOD in Meeting the Goals of the Chief Financial Officers Act
T-AIMD-96-1: Published: Nov 14, 1995. Publicly Released: Nov 14, 1995.
Pursuant to a congressional request, GAO discussed the Department of Defense's (DOD) efforts to implement the Chief Financial Officer's (CFO) Act, focusing on the: (1) financial problems facing the department; (2) actions DOD plans to take; and (3) issues DOD must address to overcome its problems. GAO noted that DOD: (1) does not have adequate financial management processes or financial data to de...
Travel Payments (NFC)
AIMD-96-11R: Published: Nov 7, 1995. Publicly Released: Nov 7, 1995.
Pursuant to a National Finance Center (NFC) request, GAO interpreted certain GAO accounting requirements for proposed changes to its travel claim processing and certification procedures for the Department of State and other clients. GAO noted that: (1) the payment of travel vouchers without supporting documentation and manual prepayment reviews may be permitted if certain controls such as those ou...
Financial Management: Challenges Confronting DOD's Reform Initiatives
T-AIMD-95-146: Published: May 23, 1995. Publicly Released: May 23, 1995.
GAO discussed the Department of Defense's (DOD) plans to reform its financial management operations. GAO noted that: (1) DOD has serious, long-standing financial problems that must be addressed immediately; (2) DOD plans to reform its financial management operations by consolidating its finance and accounting operations and systems, establishing pre-validation procedures for disbursements, reengin...
Agency Component Criteria
AIMD-95-91R: Published: Feb 21, 1995. Publicly Released: Feb 21, 1995.
Pursuant to an agency request, GAO commented on the Office of Management and Budget's (OMB) proposed criteria and designation of agency components that should submit separate audited financial statements beginning in fiscal year 1996, focusing on: (1) strengthening the criteria to ensure that agency components are designated in a consistent manner; and (2) adding the Army, Navy, and Air Force comp...
Financial Management: Financial Control and System Weaknesses Continue to Waste DOD Resources and Undermine Operations
T-AIMD/NSIAD-94-154: Published: Apr 12, 1994. Publicly Released: Apr 12, 1994.
GAO discussed Department of Defense (DOD) financial management. GAO noted that: (1) during the first half of fiscal year (FY) 1993, DOD received $751 million in payments returned by contractors, an indication that DOD controls over disbursements are poor; (2) it identified numerous instances of overpayments resulting from fraud perpetrated by DOD military and civilian personnel, former DOD personn...
Financial Management: Status of the Defense Business Operations Fund
AIMD-94-80: Published: Mar 9, 1994. Publicly Released: Mar 9, 1994.
Pursuant to a legislative requirement, GAO provided information on the financial status of the Department of Defense's (DOD) Defense Business Operations Fund, focusing on: (1) the Fund's cash management; (2) DOD efforts to address problems through its comprehensive plan; and (3) the DOD approach to managing the Fund.GAO found that: (1) although DOD has made progress toward improving the Fund's ope...