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D13157 1 (1960-01-01)

handle is hein.gao/gaobadsdb0001 and id is 1 raw text is: ILLUSTRATIVE HIGHLIGHTS FROM THE FISCAL YEAR 1959 ANNUAL REPORT OF THE JOINT FINANCIAL MNAGU'I IMPROVEMiT PROGRAM This year's annual report marks a change in the name of the cooperative Governmentwide improvement effort heretofore known as the Joint Accounting Improvement Program. The nature of the program itself is unchanged--it will continue as a mutual and cooperative effort of all Federal agencies toward improved and more efficient financial management practices. In more appro- priate recognition of the scope of its activities, however, it will hence- forth be knom as the Joint Financial Management Improvement Program. A. Atccout stems Tabular information furnished by the agencies in Part II of the report is generally indicative of progress in the trend toward accrual accounting practices throughout the Government. The systems employed, however, presently range all the way from (1) those organizations in which certain types of fi- nancial transactions are accrued only at year end, to (2) those in which all aspects of accrual concepts are an intrinsic part of day-to-day financial operations. As the program moves forward, it is to be expected that many agencies now employing minimal degrees of accrual techniques will find it in their own best interests to broaden the scope of coverage and timeliness of application. Increasing attention will be given to this matter by the central agencies, in terms of their respective statutory responsibilities, in working with the agencies. Mcamples of improvements in accounting systems for fiscal year 1959: Installed accrual accounting and improved cost accounting in the 16 Public Health Service hospitals. Accrual accounting achieved through use of cost distribution registers and document files in Federal Coal Mine Safer Board of Review and Indian Claims Commission. Developed accrual system and reduced number of allotments from 50 to 10 in National Labor Relations Board. Adopted improved inventory control methods and discontinued 5,000 ware- house bin record cards and 900 nonexpendable property record cards in A~icutural Research Service. Established single property adninistration for Goveniment property in possession of Defense contractors in Department of Defense, which reduced costs and eliminated impact of several different systems on contractors. A established self-service center systems for low cost Engineer supplies, streamlining accounting and paperwork.

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