Financial Management: Problems in Accounting for Navy Transactions Impair Funds Control and Financial Reporting.

Abstract

The Department of the Navy's inability to accurately account for its disbursements and collections is a serious, long-standing financial management problem. As we have previously reported, the Department of Defense's (DOD) continuing problems with its complex and inefficient payment processes generally do not permit a transaction to be properly recorded when it occurs, including the matching of a transaction with the related obligation--a critical funds control measure. Problem disbursements result from the difficulties in properly recording transactions, including matching disbursements with related obligations, well after the transactions have occurred. Our previous reports on DOD'S problem disbursements, listed at the end of this report, detailed long-standing concerns in this area, such as the failure to identify the root causes of DOD'S disbursing problems and therefore determine which of its numerous initiatives will improve the problem areas. Our reports also provided recommendations for needed actions to begin to address these problems.

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Document Details

Document Type
Technical Report
Publication Date
Jan 01, 1999
Accession Number
ADA359221

Entities

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Materials and Manufacturing Processes
  • Space
  • Weapons Technologies

DTIC Thesaurus Topics

  • Accounting
  • Commerce
  • Congress
  • Contracts
  • Control Systems
  • Department Of Defense
  • Finance
  • Financial Management
  • Governments
  • Law
  • Military Personnel
  • National Security
  • Personnel Management
  • Procurement
  • Test And Evaluation
  • United States
  • United States Government

Readers

  • Applied Combinatorial Optimization and Logic Circuit Design.
  • Defense Financial Management and Audit.