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 <subject>Naval supplies</subject>
 <subject>Military inventories</subject>
 <subject>Inventory control systems</subject>
 <subject>Financial management systems</subject>
 <subject>Financial statement audits</subject>
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<titleInfo>
 <title>Financial Management: Improvements Needed in the Navy&apos;s</title>
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<abstract>The Navy improved the reporting of its general fund inventory on its
fiscal year 1999 financial statement. The Navy properly accounted for
equipment and supplies that were not reported in the prior year&apos;s
statement, which included inventories held by contractors and the Coast
Guard. Improvements in the Navy&apos;s financial reporting, however, are
still needed. GAO found many errors and omissions that continue to
affect the accuracy of the Navy&apos;s financial reporting. This report
summarizes the issues that the Navy needs to address as it compiles its
fiscal year 2000 financial information.</abstract>
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 <topic>Inventory control systems</topic>
 <topic>Financial management systems</topic>
 <topic>Financial statement audits</topic>
 <topic>Reporting requirements</topic>
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