Consolidated Financial Statements for Fiscal Year 1996
Consolidated Financial Statements for Fiscal Year 1996

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Published: 2001

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The following overview and accompanying audited financial statements have been prepared for Fiscal Year (FY) 1996 to report the financial position and the results of operations of the Department of Energy. These statements include the consolidated Statement of Financial Position and the consolidated Statement of Operations and Changes in Net Position. The statements have been prepared in accordance with the Office of Management and Budget Bulletin No. 94-01, Form and Content for Agency Financial Statements, and were developed in accordance with the hierarchy of accounting standards described therein. The overview provides a narrative on the Department of Energy's mission, activities, and accomplishments. Utilizing performance measures as the primary vehicle for communicating Departmental accomplishments and results, this overview discusses the most significant measures while others are discussed in the supplemental information to the financial statements.

Accounting and Disclosing Intragovernmental Transactions on the DOD Agency-Wide Financial Statements
Accounting and Disclosing Intragovernmental Transactions on the DOD Agency-Wide Financial Statements

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Published: 2001

Total Pages: 48

ISBN-13:

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This report is the fourth in a series of audit reports related to the FY 1999 DoD Agency-wide financial statements. The first report discusses the internal controls and compliance with laws and regulations for DoD. The second report discusses the reporting of performance goal information in the DoD financial statements. The third report discusses journal voucher entries made to accounting data used to prepare the DoD financial statements. This report discusses the annual process of accounting and disclosing of intragovernmental transactions on the DoD Agency-wide financial statements. Office of Management and Budget (OMB) Bulletin No. 97-01, "Form and Content of Agency Financial Statements," October 16, 1996, as amended January 7, 2000, requires the balance sheet and Statement of Net Cost to be prepared on a consolidated basis. When statements are prepared on a consolidated basis, intra-agency transactions must be eliminated to remove the double accounting effect. Intragovernmental transactions with other Federal agencies are to be reported as required supplemental information as part of the agency's financial statements. The required supplemental information is used to prepare the Federal consolidating statements. Reporting entities are encouraged to reconcile intragovernmental amounts with their trading partners.