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Financial Handbook for Federal Executives and Managers
Financial Handbook for Nonfinancial Executives in the Federal Government
"Budgeting and financial management in the U.S. federal government is highly complex and highly differentiated, e.g., in the process employed by the Executive branch versus those used by Congress. In this book we attempt to cover the processes of both the Executive and Congress and the relationships between the two. The book provides views from several perspectives, e.g., managerial and political. We attempt to provide readers with an understanding of how federal budget and financial management processes are supposed to operate. However, we then go a step further to show how these processes actually operate often in contrast to the intended template. Additionally, this book is intended to capture and combine the views of the academic and the practitioner, including those of the participants in the process."--Introduction.
Policymakers and program managers are continually seeking ways to improve accountability in achieving an entity's mission. A key factor in improving accountability in achieving an entity's mission is to implement an effective internal control system. An effective internal control system helps an entity adapt to shifting environments, evolving demands, changing risks, and new priorities. As programs change and entities strive to improve operational processes and implement new technology, management continually evaluates its internal control system so that it is effective and updated when necessary. Section 3512 (c) and (d) of Title 31 of the United States Code (commonly known as the Federal Managers? Financial Integrity Act (FMFIA)) requires the Comptroller General to issue standards for internal control in the federal government.