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Article: To the baseline and beyond: military equipment valuation sets sights on a clean audit: a clean audit: the avenue to securing the trust of the Congress and the American taxpayer in the DoD's stewardship its assets.
- Article from:
- Armed Forces Comptroller
- Article date:
- June 22, 2006
- Author:
CopyrightCOPYRIGHT 2006 American Society of Military Comptrollers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Department's financial managers deserve praise. For more than three years, they have worked with the personnel in the Property & Equipment (P&E) Policy Office in the Office of the Under Secretary of Defense for Acquisition, Technology and Logistics and in the acquisition community to establish the initial value of every item of military equipment in the Department of Defense (DoD) inventory. Approximately 1,100 individual weapon system programs were assessed for a computed net book value of about $300 billion.
To its credit, the DoD financial management community assisted in developing the policy guidance (business rules) and processes that were used to ...