Asset Presentation on Military Department General Fund Financial Statements.

Abstract

We reviewed assets presented on the Military Department General Fund Financial Statements to determine whether they were presented consistently. Included in our review were assets such as supplies; inventories; and property, plant and equipment. These assets are presented on lines 1 .d. through 1.1. of the Army and Air Force General Fund Statements of Financial Position. This report provides a basis for ensuring that these assets, estimated at $ 1.1 trillion, will be presented consistently on FY 1996 and future Military Department General Fund Financial Statements and FY 1996 and future DoD Consolidated Financial Statements, in accordance with guidance from the Federal Accounting Standards Advisory Board and the Office of Management and Budget. The audit objective was to identify and summarize the reasons for and offer solutions to the inconsistent presentation of assets of the Army and Air Force, as shown on their FY 1994 and 1995 General Fund Financial Statements.

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Document Details

Document Type
Technical Report
Publication Date
Feb 25, 1997
Accession Number
ADA369540

Entities

People

  • Cheri D. Givan
  • Craig W. Michaels
  • F. J. Lane
  • John J. Vietor
  • Richard B. Bird

Organizations

  • Office of the Inspector General, U.S. Department of Defense

Tags

Communities of Interest

  • Weapons Technologies

DTIC Thesaurus Topics

  • Accounting
  • Air Force
  • Contractors
  • Contracts
  • Department Of Defense
  • Electronic Mail
  • Financial Management
  • Governments
  • Inventory
  • Materials
  • Military Acquisition
  • Military Equipment
  • Munitions
  • National Security
  • Navy
  • Standards
  • Test And Evaluation

Readers

  • Defense Financial Management and Audit.