Standardized accounting ashore for afloat activities

Abstract

With limited resources and reduced funding for Naval forces, there is a need to standardize accounting ashore for all afloat activities. The purpose of this thesis was to review the framework for standardization of inventory reporting afloat under one stores (inventory) accounting system, referred to as the Material Financial Control System-Retail (MFCS-Retail). Additional analysis was conducted on general funds obligational reporting for afloat Operating Targets (OPTARS) and the conversion to the Standard Accounting and Reporting System, Field Level (STARS-FL) system. Empirical research was conducted at DFAS Operating Locations in San Diego, California and Norfolk, Virginia to review existing stores accounting and general funds management procedures. Additionally, financial reconciliation procedures were reviewed for inventory and financial accounting, with the goal of using artificial intelligence to reduce unmatched receipts and expenditures. Emphasis was placed on areas that could be streamlined and automated to provide timeliness in reporting, while reducing workload afloat. The major finding of this research was that standardizing accounting for inventories afloat under MFCS-Retail and STARS-FL for OPTAR management allows for streamlining detailed inventory management and financial reporting ashore. A major benefit is the reduction of workload afloat through the standardization of re ortin across the fleet.