1. DOD Financial and Audit Readiness
The primary challenge for the DoD and Service Comptrollers is compliance with private-sector accounting models to be applied to the public sector like the DoD. Financial accounting and reporting is the standard for the private industry, however it has limited applicability for the DoD. ... The primary challenge identified for the DoD to conform to private sector financial accounting reporting remains with the DoD's capital assets. Private sector financial accounting uses the standard equation: Assets = Liabilities + Shareholder's Equity. ... Despite the private-sector and DoD-se...
- Word Count: 1822
- Approx Pages: 7
- Has Bibliography
- Grade Level: Graduate