Financial Management: Financial Reporting of Deferred Maintenance Information on Navy Weapon Systems for FY 2002

Abstract

The Federal Accounting Standards Advisory Board requires Federal entities to provide supplemental information on deferred maintenance as part of the entities' financial statements. The Federal Accounting Standards Advisory Board defines deterred maintenance as maintenance that was not performed when it should have been or maintenance that was scheduled and then was delayed until a future period. The Navy reported an estimated $ 1.3 billion of deterred maintenance at the beginning of FY 2002 on its aircraft, ships, missiles, combat vehicles, and other weapon systems national defense property, plant, and equipment (PP&E) commodities. This audit focused on the records used to compile the reported deterred depot maintenance estimate and did not include a detailed review of contractor, intermediate, or organizational-level maintenance.

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Document Details

Document Type
Technical Report
Publication Date
Mar 06, 2003
Accession Number
ADA411486

Entities

People

  • James L. Kornides
  • Paul J. Granetto
  • Richard B. Bird
  • Stuart D. Dunnett
  • Ted R. Paulson

Organizations

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

Tags

Communities of Interest

  • Ground and Sea Platforms

DTIC Thesaurus Topics

  • Air Force
  • Aircraft Carriers
  • Aircraft Maintenance
  • Aircrafts
  • Airframes
  • Combat Vehicles
  • Congress
  • Department Of Defense
  • Fighter Aircraft
  • Financial Management
  • Governments
  • Maintenance
  • Maintenance Requirements
  • National Security
  • Naval Aviation
  • Navy
  • Uss George Washington

Readers

  • Aviation Safety Risk Assessment.
  • Logistics and Supply Chain Management.
  • Strategic Security Studies