Asset Presentation on Military Department General Fund Financial Statements

摘要

We reviewed assets presented on the Military Department General Fund Financial Statements to determine whether they were presented consistently. Included in our review were assets such as supplies; inventories; and property, plant and equipment. These assets are presented on lines 1 .d. through 1.1. of the Army and Air Force General Fund Statements of Financial Position. This report provides a basis for ensuring that these assets, estimated at $ 1.1 trillion, are presented consistently on FY 1996 and future Military Department General Fund Financial Statements and FY 1996 and future DoD consolidated Financial Statements, in accordance with guidance from the Federal Accounting Standards Advisory Board and the Office of Management and Budget. The audit objective was to identify and summarize the reasons for and offer solutions to the inconsistent presentation of assets of the Army and Air Force, as shown on their FY 1994 and 1995 General Fund Financial Statements.