| Summary: | The federal government has focused on better business practices by implementing legislature, such as the Chief Financial Officer's Act of 1990, which initiated requirements for federal agencies to produce auditable financial statements. This thesis reviews the extent to which the Naval Postgraduate School can apply the guidelines for federal financial accounting to its own financial management capabilities. The financial information system capabilities and limitations are explained, showing how NPS accounts for the financial transactions during its operations and how these transactions are captured by the Department of the Navy's primary accounting system. This thesis also evaluates the capabilities of the Standard Accounting and Reporting System, as it pertains to NPS, and how its reports can be used to create the necessary financial statements described in the financial management regulations for the federal government.
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