Friday, December 23, 2011

Reconciling the cash account

One of the basic monthly accounting functions in any organization - even your home accounts - is the reconciliation of cash. Would you believe that the Navy and Marines are unable to do so? They have been trying to do so for at least 4 years (having spent $29,000,000), but still can't do so. As of April 2011, they were off by only $22 billion.

The Navy and Marine Corps figure that they only need to address 650 DCAS system change requests to straighten out the situation.

No comments: