Financial Systems

Whoa Nellie!

Posted by on Mar 31, 2015 in Defense Industry, DoD Audit, DoD IG, Federal Financial Management, Financial Management, Financial Systems, Uncategorized | 0 comments

So I guess you have to be an old guy like me to remember Keith Jackson, long-time ABC Sportscaster,  shouting “Whoa Nellie” but that’s what came to mind as I read the latest on the US Marine Corps audit saga.  Apparently GAO has forced the DoD Inspector General to retract the Marine Corp’s clean audit opinion because of problems in the suspense accounts.  Here’s a link to an article in Defense News with  the details. I have opined on DoD audits on several occasions….first shouting with joy at the accomplishment, then wondering if it really mattered and...

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Getting Into Preschool

Posted by on Mar 15, 2015 in DATA Act, Federal Financial Management, Financial Management, Financial Systems, Shared Services | 0 comments

My oldest grandson, Colin, got into preschool because he played well with others and shared his toys. The federal government is in the early stages of testing its ability to share. Several agencies are working hard to use shared services while others seem less than enthusiastic. Whether the government will measure up to Colin’s preschool standards is uncertain. Certainly each federal agency has specific—and unique—program responsibilities.  Handling those core and unique programs well is essential for each agency. It is also clear that there are numerous administrative support...

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DATA ACT: MANY PATHS — SAME DESTINATION

Posted by on Feb 3, 2015 in DATA Act, ERP, Federal Financial Management, Federal IT, Financial Management, Financial Systems, Uncategorized | 0 comments

There are two areas of the DATA Act implementation that I will briefly discuss. These two areas are closely linked together: XBRL as the standard for data; and the opportunity to leverage numerous approaches and software to obtain the goals of the DATA Act.   XBRL as the Standard Having XBRL as the standard for data may indeed be the right long term goal. However, it is very likely that implementing XBRL as the standard for all data sources will not be complete until well after the deadline for implementation of the DATA Act. In the meantime, Treasury and OMB need to develop a strategy...

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THE DATA ACT: Unfunded Mandate or Core Requirement?

Posted by on Dec 19, 2014 in DATA Act, Federal Financial Management, Financial Management, Financial Systems, Tresury | 0 comments

On May 9, 2014, President Obama signed the DATA Act. The purpose is to improve the accuracy, timeliness and accessibility of Federal spending so that the public is better informed and better decisions can be made by policy makers. The DATA Act is very broad in scope basically encompassing all Federal spending with some exceptions for national security. It also requires that data standards be developed and enforced and data be reported at very detailed levels. Spending data will be accessible to the public and policy makers on an existing Federal website, USASpending.gov. Treasury and OMB are...

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Plugging the DFAS Dam

Posted by on Sep 4, 2014 in DoD Audit, DoD Budget, Financial Systems | 0 comments

I saw a reprint of an article done by Reuters the other day entitled “Special Report: The Pentagon’s doctored ledgers conceal epic waste” and even though it’s almost a year old, I think it still applies.   In just a few days, all the big accounting firms that do business with DoD will be submitting proposals to conduct audits of the the Army, Navy and Air Force Statements of Budgetary Activity (SBA)……that’s a high level balance sheet that has little applicability to the actual management of anything.  Experience in auditing the Marine Corps proved that trying to...

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Stealth Works in the Budget Too!

Posted by on Feb 28, 2014 in Defense Industry, DoD Budget, Financial Systems, Sequestration, Working Capital Funds | 0 comments

First thing: Yesterday’s blog on Shared Services fell flat on the website with only a handful of hits.  I take it the world of Shared Services is not so hot on the list of “interesting” topics.  But there’s still a lot of money to be saved there.  In fact, I would contend that there’s a lot of money floating around in areas that most people don’t find so interesting.  It’s the uninteresting that ironically is the most interesting in terms of budget cutting.  They escape scrutiny during the year-to-year  budget battles, floundering in cash. The big...

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