Download or read book Fiscal Year 2012 Financial Report of the United States Government written by United States Government Gao Government Accountability Office and published by Createspace Independent Pub. This book was released on 2013-02-16 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report transmits GAO's report on the results of our audit of the U.S. government's fiscal years 2012 and 2011 consolidated financial statements, which is incorporated in the enclosed 2012 Financial Report of the United States Government prepared by the U.S. Department of the Treasury.During fiscal year 2012, the federal government continued to face economic and fiscal challenges in a slow-growth economy with high unemployment. To operate as effectively and efficiently as possible and to make difficult decisions to address the federal government's fiscal challenges, Congress, the administration, and federal managers must have ready access to reliable and complete financial and performance information—both for individual federal entities and for the federal government as a whole. Even though significant progress has been made since the enactment of key federal financial management reforms in the 1990s, our report on the U.S. government's consolidated financial statements illustrates that much work remains to improve federal financial management. Further improvements are urgently needed.
Download or read book Financial Report of the United States Government written by and published by . This book was released on with total page 1064 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Audit U S Government s Fiscal Years 2012 and 2011 Consolidated Financial Statements written by United States Government Accountability Office GAO and published by CreateSpace. This book was released on 2013-02-16 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report transmits GAO's report on the results of our audit of the U.S. government's fiscal years 2012 and 2011 consolidated financial statements, which is incorporated in the enclosed 2012 Financial Report of the United States Government prepared by the U.S. Department of the Treasury.During fiscal year 2012, the federal government continued to face economic and fiscal challenges in a slow-growth economy with high unemployment. To operate as effectively and efficiently as possible and to make difficult decisions to address the federal government's fiscal challenges, Congress, the administration, and federal managers must have ready access to reliable and complete financial and performance information—both for individual federal entities and for the federal government as a whole. Even though significant progress has been made since the enactment of key federal financial management reforms in the 1990s, our report on the U.S. government's consolidated financial statements illustrates that much work remains to improve federal financial management. Further improvements are urgently needed.
Download or read book Financial Audit U S Government s Fiscal Years 2012 and 2011 Consolidated Financial Statements written by United States Government Accountability Office and published by . This book was released on 2013-01-18 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: To operate as effectively and efficiently as possible and to make difficult decisions to address the federal government's fiscal challenges, Congress, the administration, and federal managers must have ready access to reliable and complete financial and performance information-both for individual federal entities and for the federal government as a whole. Even though significant progress has been made since the enactment of key federal financial management reforms in the 1990s, GAO's report on the U.S. government's consolidated financial statements illustrates that much work remains to improve federal financial management. Further improvements are urgently needed. GAO found the following: *Certain material weaknesses in internal control over financial reporting and other limitations on the scope of its work resulted in conditions that prevented GAO from expressing an opinion on the fiscal years 2012 and 2011 accrual-based consolidated financial statements. About 34 percent of the federal government's reported total assets as of September 30, 2012, and approximately 21 percent of the federal government's reported net cost for fiscal year 2012 relate to the Department of Defense (DOD), which received a disclaimer of opinion on its consolidated financial statements. *Because of significant uncertainties, primarily related to the achievement of projected reductions in Medicare cost growth reflected in the 2012, 2011, and 2010 Statements of Social Insurance, GAO was unable to express opinions on the 2012, 2011, and 2010 Statements of Social Insurance, as well as on the 2012 and 2011 Statements of Changes in Social Insurance Amounts. About $27.2 trillion, or 70.5 percent, of the reported total present value of future expenditures in excess of future revenue presented in the 2012 Statement of Social Insurance relates to Medicare programs reported in the Department of Health and Human Services' 2012 Statement of Social Insurance, which received a disclaimer of opinion. *Material weaknesses resulted in ineffective internal control over financial reporting for fiscal year 2012. *GAO's tests of compliance with selected provisions of laws and regulations for fiscal year 2012 were limited by the material weaknesses and other scope limitations discussed in the report. While significant progress has been made in improving federal financial management since the federal government began preparing consolidated financial statements 16 years ago, three major impediments continued to prevent GAO from rendering an opinion on the federal government's accrual-based consolidated financial statements over this period: (1) serious financial management problems at DOD that have prevented its financial statements from being auditable, (2) the federal government's inability to adequately account for and reconcile intragovernmental activity and balances between federal agencies, and (3) the federal government's ineffective process for preparing the consolidated financial statements. In addition to the material weaknesses underlying these major impediments, GAO identified four other material weaknesses. These are the federal government's inability to (1) determine the full extent to which improper payments occur and reasonably assure that appropriate actions are taken to reduce improper payments, (2) identify and resolve information security control deficiencies and manage information security risks on an ongoing basis, (3) effectively manage its tax collection activities, and (4) effectively monitor and report loans receivable and loan guarantee liabilities.
Download or read book Financial Report of the United States Government written by and published by . This book was released on 2009 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Report of the United States written by Thomas Nelson and published by Thomas Nelson. This book was released on 2006-08-13 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Think of the federal government as a gigantic insurance company (with a side line business in national defense and homeland security) which only does its accounting on a cash basis-only counting premiums and payouts as they go in and out the door. An insurance company with cash accounting is not an insurance company at all. It is an accident waiting to happen." Peter R. Fisher, former Bush Administration Undersecretary of the Treasury "Our objective in preparing the fiscal year 2005 Financial Report of the U.S. Government is to give Congress and the American people a timely and useful report on the cost of the Federal Government's operations." John W. Snow, former Bush Administration Secretary of the Treasury "Scoring the budget on an accrual basis-the private sector norm and, I believe, a sensible direction for federal budget accounting-would better underscore the tradeoffs we face. Under accrual accounting, benefits would be counted as they are earned by workers rather than when they are paid out by the government." Alan Greenspan, former Chairman of the Federal Reserve Board "The significance of these accrual-based reports is that they show the implications of current budgetary decisions over a longer time horizon…. This information is therefore an important element of the debate about the real effects of governmental commitments." Paul H. O'Neill, former Bush Administration Secretary of the Treasury "[A] practical management tool for policy-makers and a source of useful information for the public about the assets, liabilities, and operations of the government." Lawrence H. Summers, former Clinton Administration Secretary of the Treasury "We believe that the publication of this financial report is an important step in providing the American public with useful information about their government's assets, liabilities and operations." Robert E. Rubin, former Clinton Administration Secretary of the Treasury In December 2005, the White House published its Financial Report of the United States Government-only 2000 copies were printed despite the purpose of the report being to explain the country's financial wellbeing to Congress and the American people. Now, for the first time, that report is widely published so the American people can see what's really going on with the nation's finances.
Download or read book Consolidated Financial Statements of the United States Government written by and published by . This book was released on 1974 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding the Primary Components of the Annual Financial Report of the United States Government written by United States. Government Accountability Office and published by DIANE Publishing. This book was released on 2005 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Citizen s Guide to the Government 2012 written by Secretary of the Treasury and published by Createspace Independent Publishing Platform. This book was released on 2014-10-23 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial report of the U.S. Government for Fiscal Year 2012 is a comprehensive look at the government's financial condition and an important tool for understanding how we continue to move forward and meet our fiscal challenges.
Download or read book Financial Audit written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-12-15 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Audit: U.S. Government's Fiscal Years 2013 and 2012 Consolidated Financial Statements
Download or read book Financial Report of the United States Government written by Treasury Department and published by Government Printing Office. This book was released on 2010-04-22 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Combined Statement of Receipts Outlays and Balances of the United States Government written by and published by . This book was released on 2008 with total page 712 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial audit Consolidated financial statements of the United States government report to the Congress written by and published by DIANE Publishing. This book was released on with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consolidated Financial Statements of the United States Government written by and published by . This book was released on 1976 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Audit written by Gene L. Dodaro and published by . This book was released on 2014-04-05 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report transmits GAO's report on the results of their audit of the U.S. government's FY 2013 and 2012 consolidated financial statements, which is incorporated in the enclosed 2013 Financial Report of the U.S. Government prepared by the U.S. Dept. of the Treasury. During FY 2013, the federal government's reported unified budget deficit decreased by about $409 billion to approx. $680 billion. However, the federal government continues to face an unsustainable long-term fiscal path. To operate as effectively and efficiently as possible and to make difficult decisions to address the federal government's fiscal challenges, Congress, the administration, and federal managers must have ready access to reliable and complete financial and performance information -- both for individual federal entities and for the federal government as a whole. Overall, significant progress has been made since the enactment of key federal financial management reforms in the 1990s; however, this report underscores that much work remains to improve federal financial management, and these improvements are urgently needed. Figures. This is a print on demand report.
Download or read book A Look at the Fiscal Year 2010 Consolidated Financial Report of the U S Government written by United States. Congress. House. Committee on Oversight and Government Reform. Subcommittee on Government Organization, Efficiency, and Financial Management and published by . This book was released on 2011 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Audit written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Government Accountability Office (GAO) is an independent agency that works for Congress. The GAO watches over Congress, and investigates how the federal government spends taxpayers dollars. The Comptroller General of the United States is the leader of the GAO, and is appointed to a 15-year term by the U.S. President. The GAO wants to support Congress, while at the same time doing right by the citizens of the United States. They audit, investigate, perform analyses, issue legal decisions and report anything that the government is doing. This is one of their reports. Based on prior financial statement audits, GAO made numerous recommendations to IRS to address internal control deficiencies. GAO will continue to monitor and will report separately on IRS's progress in implementing the recommendations that remain open, as well as any recommended actions to address the new internal control deficiencies identified in this year's audit.
