See attached article for reference.
According to NASA's former auditor, PriceWaterhouseCoopers (PWC), NASA's finances are a mess, with major errors in its last financial statements and insufficient documentation. NASA's chief of internal financial management has maintained that the problems resulted from a difficult transition from 10 different internal accounting programs to a new integrated one. According to PWC, the financial chaos stems from basic accounting mistakes and a breakdown in NASA's internal controls.
Describe the financial and accounting problems at NASA.
Provide some recommendations for getting this troubled organization back on track.© BrainMass Inc. brainmass.com October 16, 2018, 11:36 pm ad1c9bdddf
First, system migration, more specifically accounting system, if not planned ad implemented properly will be beset with problems and snags which can potentially const the company millions of dollars including data clean up and reconciliation.
Second, before the migration to the single accounting system NASA has had several accounting problems that eventually caused serious roadblocks to the efficient and effective migration. One of these problems is the lack of periodic financial ...
The solution describes accounting problems with recommendations for NASA.
Recommendations and Risk Assessments
Please explain each of the following processes. One to two lines on each with a recommendation and risk assessment.
Detailed Analysis of the System (Current and Future Process)
Interaction and Interviews with business user's review analyze and evaluate existing business processes and transaction life cycle.
Explain the SRP Process Review
Procurement Life cycle
Process and Data Integration with other Modules
Explain the requirement Definitions
Financial Process review
General ledger process
UFMS Integration process and requirements
Others financial process
_ Preparation of recommended Improvements
_ Identify Missing Automation of Business Process
_ Preparation of FIT/GAPS based upon the investigative analysis
_ Risk and Mitigation for Proposed Recommendations
Course of Action Preparation
_ Prepare and deliver following documents
_Test plan success factors and measurements
_ Requirement document
_ System design Document
_ Recommendations, Risk and Mitigation plan
Project Objectives (Task5):
_Modernize and improve the Stockpile Resource Planning (SRP) Process
_Unified Financial Management System (UFMS) Data Integration
_ Oracle Business Intelligence Enterprise Edition (OBIEE) Implementation
_ Warehouse Management System (WMS) Implementation
CDC is planning to assess/implement the following systems:
Stockpile resource planning (SRP)
Warehouse Management System (WMS)
Unified Finance Management System (UFMS)