Design of Cost Accounting System for Research and Acquisitions
This report is one in a series on implementation of the Federal Aviation Administration (FAA) cost accounting system. FAA initially planned to have a fully operational cost accounting system by October 1, 1998. FAA's current schedule for full implementation of its cost accounting system for all lines of business is by the end of Fiscal Year (FY) 2002. FAA's total appropriated funds will increase from about $8 billion in FY 1996 to about $12 billion in FY 2001, a 50 percent increase in 5 years. Thus, a cost accounting system compliant with accounting standards is essential for FAA to control its cost growth and improve the efficiency and performance of its operations.