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Posted by on Sep 4, 2014

How Do I Value My Assets? Understanding Federal Financial Accounting Technical Release #15

Accumulating costs for the purposes of properly capitalizing assets can be very challenging for agencies with large complex acquisitions. For agencies like DoD and NASA, asset capitalization can be especially difficult.  In fact, appropriately valuing assets is one of the most significant challenges to audit readiness.  The Federal Accounting Standards Advisory Board’s (FASAB) most recent […]

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Posted by on Jun 12, 2014

The Top 5 Challenges of DoD’s Audit Readiness Program

Several years ago, the Department of Defense implemented a program called Financial Improvement and Audit Readiness (FIAR) in order to position the department to have auditable financial statements to to better support decisions regarding the allocation and use of resources. The FIAR program goals are: By September 30, 2014, the General Fund Statement of Budgetary […]

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