Accession Number:

ADA278311

Title:

Defense Finance and Accounting Service Fiscal Year 1995 Budget Estimates.

Descriptive Note:

Corporate Author:

DEPARTMENT OF DEFENSE WASHINGTON DC

Personal Author(s):

Report Date:

1994-02-01

Pagination or Media Count:

213.0

Abstract:

The Defense Finance and Accounting Service DFAS is the Executive Agent responsible for finance and accounting functions in the Department of Defense DoD. DFAS is the central organization responsible for the DoD finance and accounting procedures, financial management systems and centralized accounting and finance operations. DFAS was initially created in January 1991 through the consolidation of the finance and accounting centers of the Military Departments and Defense Agencies. In December 1992, DMRD 910 Consolidation of DoD Accounting and Finance Operations extended DFAS consolidation and standardization efforts to include the accounting and finance field activities of the Military Departments and Defense Agencies. Through major restructuring of the finance and accounting business of DoD DFAS expects to reduce finance and accounting costs significantly within five years. Information technology improvements are essential to streamlining operations and achieving savings projections. DFAS management initiatives will standardize operations, eliminate duplicative systems development and maintenance efforts, improve efficiency and effectiveness and facilitate consolidation of finance and accounting operations

Descriptors:

• *DEPARTMENT OF DEFENSE
• *ACCOUNTING
• *FINANCIAL MANAGEMENT
• *MILITARY BUDGETS
• COST ESTIMATES
• EFFICIENCY
• OPERATIONAL EFFECTIVENESS
• STANDARDIZATION
• PLANNING PROGRAMMING BUDGETING

Subject Categories:

• Economics and Cost Analysis

Distribution Statement:

APPROVED FOR PUBLIC RELEASE