Accession Number : ADA298237
Title : Reengineering Finance and Accounting in the Department of Defense with Emphasis on Automated Financial Accounting Systems.
Descriptive Note : Idea paper,
Corporate Author : AIR UNIV MAXWELL AFB AL
Personal Author(s) : Beal, Mary L.
PDF Url : ADA298237
Report Date : 1995
Pagination or Media Count : 13
Abstract : This paper provides a snapshot of the functions and components of a financial accounting system. It also addresses why twelve additional factors need to be considered in an automated financial accounting system and reviews Defense Finance and Accounting Services (DFAS) decision to install interim migratory finance and accounting systems unique to each DFAS Center. Also included are pro and con arguments for the installation of interim migratory finance and accounting systems. I used estimated cost from a General Accounting Office report to Congress for the installation of 17 Defense Business Operating Fund (DBOF) interim migratory systems. My conclusion is that the projected cost for the installation of 17 DBOF interim migratory systems of approximately $95 million dollars plus logistical, retraining, technical and conversion costs are too much for systems which are expected to be short lived. I recommend that DFAS implement a consolidated integrated financial accounting system similar to those used by large multi-national corporations. Implementation of a facsimile commercial-based automated financial accounting system could produce higher savings and speed up DFAS's overall reengineering efforts. (AN)
Descriptors : *ACCOUNTING, *FINANCIAL MANAGEMENT, DEPARTMENT OF DEFENSE, INTEGRATED SYSTEMS, AUTOMATION, MANAGEMENT INFORMATION SYSTEMS, MANAGEMENT PLANNING AND CONTROL, DATA MANAGEMENT, COST EFFECTIVENESS, COST ESTIMATES, SALARIES.
Subject Categories : Administration and Management
Economics and Cost Analysis
Distribution Statement : APPROVED FOR PUBLIC RELEASE