DEPARTMENT OF DEFENSE: Additional Actions to Improve Suspense Account Transactions Would Strengthen Financial Reporting.

GOVERNMENT accounting; UNITED States. Dept. of Defense; UNITED States. Government Accountability Office; UNITED States. Defense Finance & Accounting Service; PUBLIC finance

The article presents a study of the suspense accounts of the U.S. Department of Defense (DOD) conducted by the Government Accountability Office (GAO). Topics discussed include the accounting systems used to record and summarize the financial transactions of individual DOD components, efforts of DOD and Defense Finance and Accounting Service (DFAS) to reduce aged suspense account balances, and the lack of corrective action plans to address the causes of deficiencies in suspense account control.