HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.
![handle is hein.gao/gaobaabuc0001 and id is 1 raw text is:
DOCURINT LESUID
00258 - [0O00512]
Review of Office of Secretary accounting System, Department of
Commerce. IGQSD-77-5; B-33339. November 19, 1976. 2 pp.
Report to Joseih B. Kagputys, assistant Secretary# Department of
commerce; by D. L. Scantlebury, Director# Financial and General
banagement Studies Div.
Issue Area: Accounting and Financial Reporting (2800).
Contact: Financial and General Management Studies Div.
3udget Function: discellaneoup: Financial Management and
Information Systems (1002).
Pr)blem& observed in the Department of Comsercels
centralized accounting system are noted and co.rective measures
ars discussed. The accounting system was not being operated in
accordance with the approved system design and# an a resulto the
system was not produci.g useful financial reports for
management. Five of the six Department otganisations were not
furnishing estimates of program and project costs to the Office
of Finance Han-gesent. Because of deficiencies in financial
reports, nose organizations maintained unofficial financial
reporting systems to supplement reports prepared by the
accounting system. Corrective procedures involved submission of
operating cost estimates e.ad plans by all agencies serviced by
the Department's centralized accounting system.
Findings/Conclusions: Financial statements now include a
comparison of actua' and estimated coats.f upplement:i
acc~untizy records ars no longer beiag maintained, as adequate
comparative financial reports are being generated. Fund control
procedures utilizing cost-based budgeting are in various stages
of planning and implementation. (ERS)](ViewImageLocal?handle=hein.gao/gaobaabuc0001&div=1&collection=&method=preview&ext=.png&size=3)