Financial Management: Reliability of Weapon System Cost Reports Is Highly Questionable (Letter Report, 10/28/93, GAO/AIMD-94-10). The reliability of weapon system cost information in the Army's reports to Congress and the Pentagon and in Army reports used to support critical cost decisions is highly questionable. This information, which came from at least 18 disparate financial and logistics systems, (1) was incomplete and inconsistent among systems, (2) did not include all costs required by Army guidelines, (3) reflected unsupported adjustments, and (4) could not be independently verified. GAO's audit of the Army's financial statements for fiscal year 1992 noted continuing problems with the accuracy of weapon system cost information in the Army's logistics systems. As a result, Congress and other users of the reports cannot be fully confident that reported weapon systems costs are reliable. --------------------------- Indexing Terms ----------------------------- REPORTNUM: AIMD-94-10 TITLE: Financial Management: Reliability of Weapon System Cost Reports Is Highly Questionable DATE: 10/28/93 SUBJECT: Financial management systems Advanced weapons systems Data integrity Management information systems Federal property management Federal agency accounting systems Cost accounting Cost analysis Accounting procedures Property and supply management IDENTIFIER: Black Hawk Helicopter Bradley Fighting Vehicle Army Continuing Balance System-Expanded Abrams Tank Chinook Helicopter DOD Future Years Defense Program Army Master Data File Army Standard Financial Information System Standard Operations and Maintenance, Army, and Research and Development System Army Research, Development, and Acquisition Information Systems Activity System Army Budget Management Information System Army Program Optimization and Budget Execution System Standard Army Procurement Accounting System Army Operating and Support Management Information System ************************************************************************ We regret that the full text of this item is presently unavailable. See the GAO FAQ - Section 2.0 for printed copy ordering information. The FAQ is automatically retrieved with all WAIS search results or can be obtained by sending e-mail to: [email protected]