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NCJ Number: 67083 Add to Shopping cart Find in a Library
Title: STATUS, PROGRESS, AND PROBLEMS IN FEDERAL AGENCY ACCOUNTING DURING FISCAL YEAR 1978
Author(s): ANON
Corporate Author: US Comptroller General
United States of America
Date Published: 1979
Page Count: 88
Sponsoring Agency: Azimuth Inc.
Fairmont, WV 26554
US Comptroller General
Washington, DC 20548
Sale Source: Azimuth Inc.
1000 Technology Drive, Suite 3120
Fairmont, WV 26554
United States of America
Language: English
Country: United States of America
Annotation: THE STATUS OF FEDERAL AND AGENCY ACCOUNTING SYSTEMS IN MEETING THE STANDARDS PRESCRIBED BY THE COMPTROLLER GENERAL IS REPORTED AS OF SEPTEMBER 30, 1978.
Abstract: THE COMPTROLLER GENERAL APPROVED THE DESIGNS OF SEVEN EXECUTIVE AGENCIES' ACCOUNTING SYSTEMS DURING FISCAL YEAR 1978. A TOTAL OF 60 PERCENT OF THE GOVERNMENT'S ACCOUNTING SYSTMES HAVE NOW BEEN APPROVED. OF THE 131 UNAPPROVED SYSTEMS, 72 PERCENT ARE IN THE DEPARTMENT OF DEFENSE (DOD) AND THE DEPARTMENT OF HEALTH, EDUCATION, AND WELFARE (DHEW). MORE THAN HALF OF THE FEDERAL BUDGET IS ACCOUNTED FOR BY THE 95 UNAPPROVED SYSTEMS OF THESE TWO DEPARTMENTS. OF THE 70 DOD SYSTEMS UNAPPROVED, COMPLETED WORK ON 15 HAS FOUND THEM ACCEPTABLE EXCEPT FOR TWO MAJOR PROBLEMS: (1) THE ACCOUNTING CONTROLS OVER SUCH ASSETS AS EQUIPMENT, WEAPONS, AND FURNITURE ARE NOT ADEQUATE TO ENSURE THAT ITEMS ARE NOT LOST, STOLEN, OR MISPLACED; AND (2) ACCOUNTING FOR MAJOR APPROPRIATIONS DOES NOT HAVE A SYSTEM OF SUBSIDIARY ACCOUNTS THAT RECORDS AND SYSTEMATICALLY ACCUMULATES THE COST OF PARTICULAR ITEMS PURCHASED AND EXPENSES INCURRED IN SPECIFIC OPERATIONS. NO ACCOUNTING SYSTEMS WERE APPROVED FOR DHEW IN FISCAL YEAR 1978. A PARTICULAR PROBLEM FOR DHEW HAS BEEN THE ABSENCE OF COST DATA THAT WOULD ALLOW AGENCY MANAGERS TO BASE DESCISIONS ON LOWEST COST ALTERNATIVES. NEW SYSTEMS BEING DESIGNED WILL PROVIDE THE NEEDED COST DATA, BUT WILL NOT BE COMPLETED FOR SEVERAL YEARS. CONGRESS SHOULD ENSURE THAT AGENCIES HAVE ADEQUATE RESOURCES TO IMPROVE THEIR ACCOUNTING SYSTEMS WHICH DO NOT CONFORM WITH THE COMPTROLLER GENERAL'S STANDARDS. THE APPENDIX PROVIDES A SUMMARY OF MAJOR AREAS OF FINANCIAL INTEREST FOR AGENCY INTERNAL AUDIT ORGANIZATIONS, AND THE STATUS OF APPROVAL FOR ACCOUNTING SYSTEMS AS OF SEPTEMBER 30, 1978, IS LISTED IN TABULAR FORM. (AUTHOR ABSTRACT MODIFIED--RCB)
Index Term(s): Auditing standards; Evaluation; Federal government; US Department of Defense; US Department of Health, Education, and Welfare
Note: THERE IS A CHARGE FOR MORE THAN ONE COPY. REPORT TO THE CONGRESS BY THE COMPTROLLER GENERAL OF THE UNITED STATES
To cite this abstract, use the following link:
http://www.ncjrs.gov/App/publications/abstract.aspx?ID=67083

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