EVENT - A New Road to Improved Financial Management in Government: Process-Based Financial Reporting

The Government Results Center In Association with the United States Department of Agriculture and Grant Thornton Present:

GOVERNMENT ENTERPRISE INTEGRATORS GROUP (GEIG) Meeting
Tuesday April 17, 2007, 8:45-Noon, [Agenda]

A PRACTITIONERS SERIES FORUM ON: "A New Road to Improved Financial Management in Government: Process-Based Financial Reporting"

Meeting location is in the Jefferson Auditorium, U.S. Department of Agriculture, 12th and Independence Avenue, S.W.

The purpose of the Government Enterprise Integrators Group is to enable sharing between government agencies and offices of lessons learned and better practices to integrate planning, budgeting, financial management, execution through people, technology and evaluation feedback into an effective performance management system.

All GEIG meetings are free of cost but restricted to government officials or public administration academics. Reservations are required for security, badge preparation, and copying of handouts.

In 2006 the Association of Government Accountants (AGA), with funding from the Grant Thornton’s Global Public Sector group, initiated a research study to determine the applicability of process-based accounting to federal agencies. Process-based accounting was first proposed by James A. Brimson in his book The Handbook of Process-Based Accounting: Leveraging Processes to Predict Results (American Institute of Certified Public Accountants, 2002). Through interviews with 28 Federal Chief Financial Officers and other top government executives involved in financial management, the survey revealed a need for financial and performance reporting that was not focused on compliance but rather toward providing information necessary for sound business decisions.

The GEIG April session will feature an explanation of process-based accounting in developing integrated financial and performance reports. Secondly, we will explore how all federal agencies might use process-based accounting tools to increase transparency, highlight problems and opportunities for operations improvement, and increase the amount of forward-looking information for decision-making. Finally, we will consider how some agencies are integrating and institutionalizing these tools to create value-added financial and performance reports.

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