Accounting procedures (61 - 70 of 78 items)
Interagency Agreements: Fiscal Year 1988 Agreements at Selected Agencies Were Proper
AFMD-88-72: Published: Sep 28, 1988. Publicly Released: Oct 31, 1988.
Pursuant to a congressional request, GAO reviewed interagency transfers of appropriated funds to determine if the agencies' use of funds was consistent with the original purposes of the appropriations.GAO found that: (1) the 8 agencies it reviewed entered into 234 agreements to transfer fiscal year 1988 appropriated funds in exchange for goods or services such as health services, communications an...
[Comments on Allowability of Costs Incident to Mergers and Other Business Combinations]
B-224782.7: Published: Feb 29, 1988. Publicly Released: Feb 29, 1988.
GAO commented on the allowability of costs incident to mergers or other business combinations. It was determined that: (1) the two methods of accounting for capital asset costs following a merger or other business combination were the purchase method and the pooling-of-interests method; (2) under the purchase method, one business acquires another business at its cost; (3) under the pooling method,...
Interagency Agreements: Customs-Coast Guard Agreement for U.S.-Bahamas Drug Task Force Was Proper
AFMD-87-69: Published: Aug 31, 1987. Publicly Released: Sep 16, 1987.
In response to a congressional request, GAO reviewed an interagency agreement between the Coast Guard and the Customs Service that called for the Coast Guard to procure and operate helicopters for the U.S.-Bahamas Drug Interdiction Task Force, to determine: (1) the legal basis for the agreement; (2) any legal requirement concerning the use of funds; and (3) whether either agency violated any feder...
Strengthening Internal Controls Would Help the Department of Justice Reduce Duplicate Payments
AFMD-85-72: Published: Aug 20, 1985. Publicly Released: Aug 20, 1985.
Pursuant to a congressional request, GAO reviewed duplicate payments made by federal agencies at selected federal payment centers, including one within the Department of Justice's Justice Management Division.GAO identified, through independent testing of prior payments, weaknesses in the automated and manual controls used to prevent duplicate payments. GAO found that: (1) the automated internal co...
Transfer of Interest of U.S. Investment in the Panama Canal
AFMD-85-63: Published: Jun 19, 1985. Publicly Released: Jun 19, 1985.
Pursuant to a congressional request, GAO reviewed the cash flow requirements of the Panama Canal Commission to determine the most appropriate repayment schedule for interest earned on the U.S. Government's investment in the Panama Canal.GAO noted that legislative history indicates that the Commission should transfer interest collections to the general fund of the U.S. Treasury, which would: (1) re...
[Revised Title 2 of GAO's Policy and Procedures Manual for Guidance of Federal Agencies]
B-115398: Published: Nov 14, 1984. Publicly Released: Nov 14, 1984.
GAO discussed its issuance of the revised title 2 of the GAO Policy and Procedures Manual for Guidance of Federal Agencies, entitled "Accounting Principles and Standards for Federal Agencies." The revised title calls for agency accounting systems to produce financial statements on the totality of the agency's operations and requires that these systems be an integral part of the agency's total fina...
Internal Control Weaknesses at the U.S. Customs Service
AFMD-84-23: Published: May 23, 1984. Publicly Released: May 23, 1984.
GAO reported the results of a survey of internal controls at 12 U.S. Customs Service offices. The survey was conducted during the period of January 1983 to April 1983.The survey identified weaknesses in internal controls which usually resulted because established procedures were not followed. The weaknesses existed in controls over the: (1) deposit, accounting, and safeguarding of collections, inc...
The Bureau of Public Debt Should Better Control Savings Bond Sales and Redemptions
AFMD-84-16: Published: Oct 31, 1983. Publicly Released: Oct 31, 1983.
GAO reviewed the U.S. Savings Bond Program to determine the adequacy of accounting procedures and internal controls and to identify any losses resulting from irregularities or abuses.Savings bonds are sold by agents, to whom blank savings bond stock is provided on consignment by the Bureau of the Public Debt. Fraudulent or unauthorized bond issues cannot be detected until after they are redeemed t...
Millions Paid Out in Duplicate and Forged Government Checks
AFMD-81-68: Published: Oct 1, 1981. Publicly Released: Oct 1, 1981.
GAO was asked to study the Treasury Department's accounting procedures for duplicate payments and payments on forged checks.A GAO review disclosed that the Treasury is not meeting all legal requirements in accounting for and recovering the payments with the result that funds are being disbursed without congressional approval and amounts due the government are not recovered promptly. A GAO review o...
Improvements Needed in the Management of Federal Prison Industries' Factories
GGD-80-67: Published: Jun 9, 1980. Publicly Released: Jun 9, 1980.
GAO conducted an examination of the fiscal year 1979 financial statements of the Federal Prison Industries, Inc. (FPI).FPI needs to improve the management of its factories. Problems exist in pricing products, determining manufacturing costs, purchasing materials, maintaining inventories, collecting accounts receivable, authorizing and reimbursing travel, and internal reporting of financial informa...