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Wednesday, February 01, 2012

Board approves next phase of defense accounting system

The Defense Department received a boost in meeting its goal to have clean financial books by 2017. The Defense Acquisition Board approved the next phase of development for the Defense Enterprise Accounting and Management System or DEAMS.

The Board's approval means the Air Force, the U.S. Transportation Command and the Defense Finance and Accounting Services can develop an acquisition strategy and begin deploying the system across the Air Force in 2012.

Congress mandated DoD have balanced books by 2017. Defense Secretary Leon Panetta set a goal of 2014 for a partial audit around its Statement of Budgetary Resources, an accounting of money in and money out that could withstand the scrutiny of professional auditors.

-Jason Miller, FederalNewsRadio.com

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