Defense Finance

When the terrorist attacks occurred on 9/11 it did more than just affect the comfort level of American citizens. It had an all around impact on how this country will be run for years to come. The one economic impact that I will concentrate on is that the attacks, arguably, but directly effected the U.S. GDP (Gross Domestic Product) and how the national budget will be handled from that day forward.

During the 2018 Senate budget accountability meeting, Senator Bernie Sanders says, “since 1995 Boeing, Lockheed Martin and United Technologies have paid nearly $3 billion in fines or related settlements for fraud or misconduct- $3 billion collectively. Yet those three companies received about $800 billion of defense contracts over the past 18 years” (Senate). All of these companies are private defense companies that design and manufacture weapons for the Department of Defense if the money if followed. These defense companies have paid 0.375 percent in fines for fraud compared to the amount they were given by the Department of Defense over eighteen

In 1959, the United States Air Force took the beginning steps of implementing a process that was based on the Government Accountability Office’s recommendation. This process required certification of contractor cost data, as recommended. The Department of Defense followed the example set by the Air Force by issuing a revision to the Armed Services Procurement Regulations to require certification of cost data.

In 1973 the Financial Accounting Standards Board (FASB) was established to set the financial accounting standards in the United States of America for nongovernmental entities. These standards are collectively called U.S. Generally accepted Accounting Principles, or U.S. GAAP. The Securities and Exchange Commission (SEC) and the American Institute of Certified Public Accountants acknowledge the authority of these standards (FASB, n.d). A “proven, independent due process” is used to collect the viewpoints of the financial statements prepares and users for the constant improvement of these standards. An Accounting Status Update(ASU) is not an authoritative source however documents the amendments to communicate the changes in the FASB Codification for a user to understand the reason and future of those changes (FASB, n.d).

The department of financial services consists of the budget, comptroller, food and nutrition services, payroll management, and risk management offices. This department provides financial information and

• Analyzes Compensation and Pension Disability claims to determine if diseases and/or injuries were incurred or aggravated by military service in the line of duty for purposes of compensation, treatment or hospitalization. For pension claim, analyzes’ claimant income, debt and assets to determine whether they qualify for pension based on income.

The Accounting and Finance Department provides timely and accurate financial reporting and accounting services to Atha Corporation, its employees, departments, and stakeholders for compliance and strategic financial management. We are committed to leading in an honest and ethical manner while endorsing employee empowerment by providing an environment where everyone is stimulated to grow skillfully and individually.

This Cost Benefit Analysis (CBA) supports the establishment of one (1) civilian Senior Auditor, GS-13 (1 Req / 1 Auth) position. A key purpose of the additional position is to ensure continuity of operations and address a growing backlog of unexecuted engagements/duties not currently provided by the authorized staffing level.

Alaworks supports reporting requirements for various Federal and State laws and regulations. The system currently meets the needs of its user community. However, the question remains whether the “user needs,” including security, can be met once the administrative entity changes are fully implemented. For the first year, ADECA and Commerce have a Memorandum of Understanding to allow ADECA IT personnel to continue managing Alaworks and assist Commerce with a smooth transition into full ownership.

Fort Campbell is the primary home to the 101st Airborne Division. As one of the largest military installations in the world, Fort Campbell houses one of the largest modern base exchanges on the U.S continent. Unlike other business corporations, the Exchange gives a percentage of its earnings to all branches of service for Morale, Welfare and Recreational programs. This include bowling alleys, movie theaters, and day care facilities that you find on all military installations. AAFES is not a part of the military nor are they recognized as a military organization. However, AAFES is a part of the Department of Defense, and they are a non-appropriated funded government entity. What this ultimately means is that they receive part of their budget from the U.S. government. The rest of the budget they operate on, comes from their sales of goods and services. Like all business corporations, they have a public affairs team that handles certain aspects of the day to day operations. Let’s look closer at some specific areas that the public affairs office handles at Fort Campbell

Purpose: Reference is hereby made to Navy awarded contracts requiring Contractor access to Navy information systems, SBU information, areas critical to the operations of the command, and/or classified information. Although these contracts may not be classified, Contractor employees are required to have obtained a favorably adjudicated National Agency Check with Local Agency and Credit Checks (NACLC) determination at a minimum. The Department of the Navy (DoN) has determined that all DoN Information systems are sensitive regardless of whether the information is classified

And how about your accounting department? How big is it, and who oversees the accounting process?

As a result of the Government Accountability Office (GAO) reports of 2009 and the Defense Business Board (DBB) report of 2008, DCAA implemented a risk-based planning process to ensure audit resources are focused on the highest-payback areas to the Department of Defense (DoD), the warfighter, and the taxpayer. In concert with DCAA’s risk-based planning process, DoD’s Defense Procurement and Acquisition Policy (DPAP) executed the following significant policy changes to focus audit resources on the highest-payback areas:

USAA is a user friendly information system that can benefit any person that is in the military. Military members need to be able to take care of their banking needs from anywhere in the world. It is not practical or sufficient for military members to need to physically walk into a bank when they never know where they are going to be next. Not just anyone can become a member of USAA, but individuals that are a member of any military branch and their family members qualify for the services put forth from USAA.

Integrating the allegation referral data into AFES will enhance our ability to identify interrelated claims and high-risk transactions across our programs. It will also modernize workflow capabilities and allow OIG to conduct more efficient inquiries and investigations of possible fraud. Integrating the ARIS data into AFES will provide more robust data to enhance our models quickly and make data-driven anti-fraud decisions. The capabilities of the ARIS will better position SSA to comply with federal government wide anti-fraud mandates for federal agencies.