Download or read book Compilation Process for the DOD Consolidated Financial Statements for FY 1997 written by and published by . This book was released on 1998 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Financial Management Act of 1994 requires the Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget, to prepare Government-wide financial statements beginning in FY 1997. Office of Management and Budget and DoD Guidance on Form and Content of Audited Financial Statements requires that amounts reported in the footnotes be consistent with amounts reported as line items of the principal financial statements. In addition, financial information reported in multiple footnotes should be reported consistently throughout the financial statements. The Statement of Financial Position reported total assets of$l.33 trillion and total liabilities of $949 billion for FY 1997. On February 27, 1998 we issued a disclaimer of opinion on the DoD Consolidated Financial Statements for FY 1997. We issued our reports on internal controls and compliance with laws and regulations on June 22, 1998. The overall audit objective was to determine whether the DoD Consolidated Financial Statements for FY 1997 were presented fairly in accordance with Office of Management and Budget Bulletin No. 94-01, "Form and Content of Agency Financial Statements," November 16, 1993, as supplemented by Office of Management and Budget Bulletin No. 97-01, "Form and Content of Agency Financial Statements," October 16, 1996.

Download or read book Inspector General United States Department of Defense Semiannual Report to the Congress April 1 1998 September 30 1998 written by and published by DIANE Publishing. This book was released on with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Compilation of the FY 1997 Financial Statements for Other Defense Organizations written by and published by . This book was released on 1998 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction. This report is the second and final report on the compilation by the Defense Finance and Accounting Service (DFAS) Indianapolis Center of the FY 1997 Financial Statements for Other Defense Organizations. This report also summarizes conditions affecting the compilation process as reported in previous Inspector General, DoD, audit reports. We performed the audit in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, which requires that DoD provide audited financial statements to the Office of Management and Budget. The DoD Consolidating Financial Statements for FY 1997 included financial statements for a reporting entity called "Other Defense Organizations" that represents a consolidation of financial information from 44 Defense organizations, funds, and accounts using Treasury Index No. 97. The DFAS Indianapolis Center is responsible for preparing financial statements for Other Defense Organizations from information generated by multiple accounting systems and accounting offices. During FY 1997, the 44 Defense agencies, funds, and accounts included in Other Defense Organizations were appropriated $39.1 billion, and their financial statements showed assets of $46.5 billion, liabilities of $222.2 billion, revenues and financing sources of $50 billion, and expenses of $49.7 billion.

Download or read book Compilation of FY 1997 Air Force General Funds Consolidated Financial Statements at the Defense Finance and Accounting Service Denver Center written by and published by . This book was released on 1998 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, requires the Inspector General, DoD, or an appointee to audit the DoD financial statements. We delegated the audit of the FY 1997 Air Force General Funds Consolidated Financial Statements to the Air Force Audit Agency. The Defense Finance and Accounting Service Denver Center maintained accounting records and prepared the FY 1997 financial statements for the Air Force. More than $343 billion in total assets was reported at year's end in these statements, and total revenues for the year exceeded $64 billion. The Air Force Audit Agency disclaimed an opinion on these statements. Additionally, although the Office of Management and Budget does not require budgetary resource reporting until FY 1998, the Air Force implemented the reporting requirements early and included the Statement of Budgetary Resources in the FY 1997 Consolidated Financial Statements. Since the Air Force Audit Agency has not completed sufficient audit work to determine whether the Statement of Budgetary Resources is fairly presented, our compilation review of this statement continues. The Defense Finance and Accounting Service Denver Center compiles financial data and prepares financial statements for both the Air Force General Funds and Working Capital Funds. Our audit focused on the processing of financial data by the Defense Finance and Accounting Service Denver Center to compile the FY 1997 Air Force General Funds Financial Statements. Audit Objectives. The primary audit objective was to determine whether the Defense Finance and Accounting Service Denver Center consistently and accurately compiled financial data from field activities and other sources for the financial statements of the Air Force General Funds. Additionally, we reviewed internal controls and compliance with laws and regulations related to the objectives. We also reviewed the adequacy of the management control program

Download or read book Internal Controls and Compliance with Laws and Regulations for the FY 1997 Financial Statements of Other Defense Organizations written by and published by . This book was released on 1998 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: We performed the audit in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, which requires DoD and other Government agencies to prepare consolidated financial statements for FY 1996 and each succeeding year. The DoD Consolidated Financial Statements for FY 1997 include financial statements for a reporting entity entitled "Other Defense Organizations." This entity represents a consolidation of financial information from various Defense organizations and funds that use the Treasury Index 97 (Department 97) symbol, including the Military Departments. During FY 1997, the 44 Defense organizations and funds included in Other Defense Organizations received $39.1 billion in direct appropriations, and their financial statements showed total assets of $46.5 billion and liabilities of $222.2 billion. The overall audit objective was to assess internal controls and compliance with laws and regulations used to compile the FY 1997 Financial Statements of Other Defense Organizations. In a subsequent audit report, we will evaluate the process used to compile, adjustment, and prepare footnotes to the financial statements.

Download or read book Inspector General United States Department of Defense Semiannual Report to the Congress October 1 1998 March 31 1999 written by and published by DIANE Publishing. This book was released on with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Compilation of FY 1996 Air Force Consolidated Financial Statements at the Defense Finance and Accounting Service Denver Center written by and published by . This book was released on 1998 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, requires the Inspector General, DoD, to audit the DoD financial statements. We delegated the audit of the FY 1996 Air Force Consolidated Financial Statements to the Air Force Audit Agency. The Defense Finance and Accounting Service (DFAS) Denver Center maintained accounting records and prepared the FY 1996 financial statements for the Air Force. More than $342 billion in total assets was reported at year's end in these statements, and total revenues for the year exceeded $59 billion. The Air Force Audit Agency disclaimed an opinion on these statements. Our audit focused on the Chief Financial Officers Reporting System used by the DFAS Denver Center to compile the FY 1996 Air Force financial statements. The DFAS Denver Center developed the Chief Financial Officers Reporting System at a cost of $586,750. The primary audit objective was to determine whether the DFAS Denver Center consistently and accurately compiled financial data from field activities and other sources for the FY 1996 Air Force financial statements. We also determined whether FY 1996 ending balances reported by the DFAS Denver Center were supportable for use as beginning balances in the FY 1997 financial statements. In addition, we evaluated the DFAS Denver Center's compliance with applicable laws and regulations and its internal control program as related to our objectives. Although significant financial management challenges remain, the DFAS Denver Center completed corrective actions on 16 of 28 prior recommendations made by the Inspector General, DoD, to improve the process of compiling the Air Force financial statements.

Download or read book Consolidation Process for FY 1997 Financial Statements for Other Defense Organizations written by and published by . This book was released on 1998 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This audit was performed in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, which requires DoD and other Government agencies to prepare consolidated financial statements for FY 1996 and each succeeding year. The DoD Consolidated Financial Statements for FY 1997 include financial statements for a reporting entity entitled "Other Defense Organizations." This entity represents a consolidation of financial information from various Defense organizations, funds, and accounts that use the Treasury Index 97 symbol. During FY 1997, the 44 Defense entities included in Other Defense Organizations received $39.1 billion in direct appropriations, and their financial statements showed total assets of $46.5 billion and liabilities of $222.2 billion. Audit Objectives. The overall objective was to assess internal controls and compliance with laws and regulations. Specifically we reviewed the processes used to gather, generate, and incorporate financial information into the financial statements for Other Defense Organizations. We also evaluated the effect of noncompliant actions on the FY 1997 financial statements.

Download or read book Federal Consolidated Financial Statements Can the Federal Government Balance Its Books written by United States. Congress. House. Committee on Government Reform and Oversight. Subcommittee on Government Management, Information, and Technology and published by . This book was released on 1999 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reporting of DOD Inventory and Operating Materials and Supplies on the FY 1997 DOD Consolidated Financial Statements written by and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The overall audit objective was to determine whether the FY 1997 DoD Consolidated Financial Statements were presented fairly in accordance with the Office of Management and Budget Bulletin No. 94-01, "Form and Content of Agency Financial Statements," November 16, 1993, as supplemented by the Office of Management and Budget Bulletin No. 97-01, "Form and Content of Agency Financial Statements," October 16, 1996. On February 27, 1998, we issued a disclaimer of opinion on the FY 1997 DoD Consolidated Financial Statements. We issued our report on internal controls and compliance with laws and regulations on June 22, 1998.

Download or read book Inspector General United States Department of Defense Semiannual Report to the Congress October 1 1997 March 31 1998 written by and published by DIANE Publishing. This book was released on with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reporting and Disclosing Intragovernmental Transactions for the FY 1997 DOD Consolidated Financial Statements written by and published by . This book was released on 1998 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report discusses the reporting and disclosing of intragovernmental transactions on FY 1997 DoD Component and FY 1997 DoD Consolidated Financial Statements. The 1994 Act also required the Department of the Treasury to prepare Government-wide audited financial statements starting in FY 1997. To comply with the law, DoD prepared financial statements for the 16 reporting entities to be included in the FY 1997 DoD Consolidated Financial Statements. The DoD's total assets reported in FY 1997 were $1.3 trillion, and total revenues were $270 billion. When an entity prepares consolidated financial statements, it should eliminate the effects of financial transactions among its components and should report only transactions with outside parties. DoD reported $5.5 billion in receivables, $92 billion in revenues, and $1.7 billion in unearned revenues that were eliminated from the FY 1997 DoD Consolidated Financial Statement. The overall audit objective was to determine whether the FY 1997 DoD Consolidated Financial Statements were presented fairly in accordance with Office of Management and Budget Bulletin No. 94-01, "Form and Content of Agency Financial Statements," November 16, 1993, as supplemented by Office of Management and Budget Bulletin No. 97-01, "Form and Content of Agency Financial Statements," October 16, 1996. There was an issuance of a disclaimer of opinion on the FY 1997 DoD Consolidated Financial statements. Statements on February 27, 1998. We issued our report on internal controls and compliance with laws and regulations on June 22, 1998. Our specific audit objective was to determine whether intragovernmental transactions were presented fairly in the FY 1997 DoD Consolidated and DoD Component financial statements. We also evaluated the management control program for the reporting and disclosing of intragovemmental transactions on the FY 1997 DoD Consolidated Financial Statements.

Download or read book Compilation of the FY 1998 Financial Statements for Other Defense Organizations written by Inspector general Dept. of defense arlington va and published by . This book was released on 1999 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report is the second report in a series on the compilation of the FY 1998 financial statements for Other Defense Organizations by the Defense Finance and Accounting Service (DFAS) Indianapolis Center. We performed the audit in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, which requires DoD and other Government agencies to prepare consolidated financial statements. The DoD Agency-Wide financial statements for FY 1998 include financial statements for a reporting entity entitled "Other Defense Organizations." The entity represents a consolidation of financial information from various Defense organizations and funds, including the Military Departments, which use the Treasury Index 97 symbol, also referred to as Department 97. The FY 1998 financial statements for Other Defense Organizations reported $45.2 billion in assets, $227.5 billion in liabilities, and $54.6 billion in budget authority.

Download or read book Compilation of FY 1995 and FY 1996 DOD Financial Statements at the Defense Finance and Accounting Service Indianapolis Center written by and published by . This book was released on 1996 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: The audit objective was to determine whether the Defense Finance and Accounting Service, Indianapolis Center, consistently and accurately compiled financial data from field entities and other sources into the FY 1995 Consolidated Financial Statements for the Army General Fund. We evaluated the processes, including internal controls and methods, that the Defense Finance and Accounting Service, Indianapolis Center, used to compile the Army FY 1995 General Fund financial statements. We also assessed actions in preparation for the compilation of financial data for the FY 1996 financial statements for the other DoD organizations that are the responsibility of the Defense Finance and Accounting Service, Indianapolis Center. In addition, we examined the controls over the preparation of accounting adjustment vouchers for Defense appropriations other than the Army General Fund. We also reviewed the adequacy of the management control program as it applied to our objectives.

Download or read book Inspector General United States Department of Defense Semiannual Report to the Congress October 1 1996 March 31 1997 written by and published by DIANE Publishing. This book was released on with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Internal Controls and Compliance With Laws and Regulations for the DOD Consolidated Financial Statements for FY 1997 written by and published by . This book was released on 1998 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: The primary audit objective was to determine whether the DoD Consolidated Financial Statements for FY 1997 were presented fairly in accordance with OMB Bulletin No. 94-01, "Form and Content of Agency Financial Statements," November 16, 1993, as supplemented by OMB Bulletin No. 97-01, "Form and Content of Agency Financial Statements," October 16, 1996. Our objective was not to determine whether comparative data for FY 1996 was fairly presented. We determined whether controls were adequate to ensure that the DoD consolidated financial statements were free of material error. We also assessed DoD compliance with laws and regulations for transactions and events that had a direct and material effect on the financial statements.

Download or read book Financial Audit written by and published by . This book was released on 1998 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: