Financial Management, DoD's Liability for Aircraft Disposal Can Be Estimated.
Abstract
DOD has not yet implemented the federal accounting standard that requires recognizing and reporting liabilities such as those associated with aircraft disposal, nor has it provided guidance to the military services. Aircraft disposal is an ongoing process and the cost can be reasonably estimated. Accordingly, these activities meet the criteria for a reportable liability. Information on the three major disposal processes-demilitarization, storage and maintenance, and hazardous materials removal and disposal - is available to develop cost estimates. The Congress has recognized the importance of accumulating and considering disposal cost information. In the National Defense Authorization Act for fiscal Year 1995, the Congress required DOD to develop life-cycle environmental costs, including demilitarization and disposal costs, for major defense acquisition programs.
Document Details
- Document Type
- Technical Report
- Publication Date
- Nov 01, 1997
- Accession Number
- ADA331832
Entities
Organizations
- United States Government Accountability Office