The horizon of financial management for the Department of Defense
Skarin, John W.
McCaffrey, Jerry L.
Mutty, John E.
MetadataShow full item record
The Department of Defense (DOD) has been unable to complete a financial audit since the enactment of the Accounting and Auditing Act of 1950, requiring periodic audits of all federal agencies. With corporate accounting scandals such as Enron, WorldCom and Xerox fresh in America's mind, Congress has given high priority to examining DOD's financial management situation, their plans for improvement, and ensuring taxpayer money can be accounted for throughout the department. This thesis will examine the root causes behind DOD's perceived wasteful culture, failed attempts to remedy the situation, the top 10 obstacles impeding proper financial management, and the outlook for attaining and passing an audit based on current strategy. In addition, this thesis will analyze the complexity of DOD budget execution and why budgets are rarely executed as written. With a slowing economy and other federal departments forced to do more with less, a more efficient financial structure could free billions of dollars.
Approved for public release; distribution in unlimited.
Showing items related by title, author, creator and subject.
Katz, Robert Douglas (Monterey, California. Naval Postgraduate School, 1995-06);The Department of Defense and its budget has been subject to many changes over the last decade, The change in the Department of Defense's budget effects the financial condition of defense industry firms. These defense ...
Determining relevant financial statement ratios in Department of Defense service component general fund financial statements Koetter, Nicholas J.; Krause, Daniel J.; Liptak, Carl S. (Monterey, California: Naval Postgraduate School, 2014-06);Department of Defense (DOD) service components are dedicating significant financial and human resources toward achieving unqualified opinions on audits of their financial statements. The DOD has endeavored to produce ...
Smith, Glenn A. (Monterey, California. Naval Postgraduate School, 1998-12-01);Navy medicine is currently in a state of change in the methods it employs to report on its stewardship over the budget authority it annually receives and executes. The Bureau of Medicine and Surgery (BUMED) is responsible ...