Department of Defense implementation of the Chief Financial Officer Act.
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Authors
Shields, James L.
Subjects
Chief Financial Officers Act
Federal Financial Management
Federal Financial Management
Advisors
Jones, Larry
McCaffery, J.L.
Date of Issue
1992-06
Date
Publisher
Monterey, California. Naval Postgraduate School
Language
en_US
Abstract
This thesis analyzes the provisions of the Chief Financial Officers
(CFO) Act of 1990 as they apply to the Department of Defense (DOD). It
identifies the background environment in which the CFO Act was formulated
and the steps that DOD is taking to implement the law. Particular attention
is given to the development of the federal financial management improvement
process, including congressional committee hearings and arguments for and
against the use of Generally Accepted Accounting Principles in the federal
sector. The DOD implementation plan focuses on three key Defense Management
Report initiatives as the means to attain the goals and objectives of the CFO
Act. Accordingly, the initiatives of Corporate Information Management,
Defense Finance and Accounting Service, and the Defense Business Operations
Fund are discussed. In addition, government-wide and DOD efforts to develop and institute audited financial statements and establish CFO qualification
standards are explored. Problems in implementation are presented.
Specifically, problems with the integration of budgeting and accounting,
valuation of weapon systems, accuracy of tracking and reporting
inventories, and the adequacy of internal controls are reviewed. Finally,
a comparison is made between DOD's efforts relative to action underway in
other government agencies.
Type
Thesis
Description
Series/Report No
Department
Management
Organization
Naval Postgraduate School (U.S.)
Identifiers
NPS Report Number
Sponsors
Funding
Format
84 p.;28 cm.
Citation
Distribution Statement
Approved for public release; distribution is unlimited.