Examination of the Financial Statements of the Federal Prison Industries, Inc., for the Year Ended September 30, 1982
AFMD-83-59: Published: Mar 30, 1983. Publicly Released: Mar 30, 1983.
- Full Report:
GAO examined the balance sheet of the Federal Prison Industries, Inc., as of September 30, 1982, and the related statements of operations and cumulative results of operations and changes in financial position for the year then ended.
In the opinion of GAO, the financial statements presented fairly the financial position of the Federal Prison Industries, Inc., as of September 30, 1982 in conformity with generally accepted accounting principles. These principles were applied on a basis consistent with that of the preceding year after giving retroactive effect to the changes in the methods of accounting for fixed assets for vocational training programs, donated property, and cash disbursements.