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Marymount University National Aeronautics and Space Administration Case Study

Marymount University

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I’m studying for my Management class and need an explanation.

PLEASE READ THIS CAREFULLY AND IF YOU COULD ADD MORE TO THE WORK YOU DID FOR ME BEFORE WITH WHAT IS WRITTEN HERE >>>> I have received a few questions regarding content of the case studies and so I want to share some more guidance to help you with ensuring you are focusing on the right content.

I am more interested in process and procedures that operational results. You may find lots of examples of reports and operational successes, and be tempted to fill your case study with that content. A little bit of that to illustrate some points with examples goes a long way. I am much more interested in knowing how they plan, what plans they develop and how they are linked; the process they use for deciding how to distribute resources and how they communicate priorities and resource constraints; what budget system they use and how it fits into their organization; what accounting system they use; how they ensure that they have funding throughout the fiscal period (spend planning); how important performance management is and how they do it; how they incorporate risk management; how they assess financial performance, evaluate programs and audit their organization; how do they address continuity of business; how do they manage organizational knowledge; etc.

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Running Head: NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) National Aeronautics and Space Administration (NASA) Name Institution affiliation 1 NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 2 National Aeronautics and Space Administration Introduction NASA stands for national aeronautics and space administration, which is a self-governing agency in the United States of America and is in charge of a space program. The organization's headquarters location is in Washington, DC, and it is composed of over 1700 employees. The organization has a jet propulsion laboratory, nine branches, and seven tests and research service centers across the country. The organization contracts other outside employees. NASA came into existence in 1958, taking over from the previous organization National Advisory Committee for Aeronautics (NACA) to be civilian oriented. The new organization aimed to encourage the peaceful application of space science. Since the transition from NACA to NASA, the organization has made reputable progress in space science aeronautics and earth science. Some of these achievements include project mercury. America's first aeronauts landed in space, the Gemini program, which used to prepare to land on the moon. The Apollo program where aeronauts walked on the moon and got home securely, the space shuttle that carried aeronauts to space and brought them back and the Saturn V that tossed humans to the moon (Kirasich et al., 2016). NASA has a broad variety activity that is involved in, these activities are, conducting scientific research, NASA satellites helps people learn more about the earth, space examinations helps in air travel, and flight. NASA also assists teachers in offering knowledge to engineering, scientist, and aeronautics students. The mission statement of NASA aims at leading to a sustainable and innovative program of exploration with global and commercial partners so that NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 3 they can enable human research through the solar system so that they can bring back to earth new opportunities and knowledge. NASA, as a U.S. State Agency, Serves the United States of America NASA has a well-established advisory committee that is committed to the planning, space technology, responsible for space knowledge and applications, and human space aerospace. Strategic planning, preparation, and allocation of resources. NASA's Plan, Vision, and Goals NASA incorporated all programs that are administrative for exploration in space with a target of achieving the 2018 strategic plans. The program aims to promote transparency and accountability, and it highlights both the intangible and intangible benefits that the American people are likely to get from NASA's activities. The vision of the organization is to expand and discover knowledge for the benefit of the people. Strategic Goals and Objectives NASA produces a strategic plan after every four years, where it last produced it in 2018. NASA's 2018 strategic plan outlines the direction that the organization is going to take through 2021 and beyond that. NASA has four themes of a strategic plan that are ideas that are related to NASA's goals. The four topics include explore, discover, develop, and enable. The fourth theme aims to do projects and activities that will help in achieving the mission of the organization. All the plans of the organization are linked together as achieving one goal leads to the next plan (Dario et al., 2019). NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 4 The four themes of NASA, which represent its goals, have objectives that they aim at making. The first theme of discovering has a strategic goal that aims at expanding the knowledge of humans through innovative scientific discoveries. The objectives of this theme aim at understanding the earth, sun, universe, and solar system, and planet, responses of biological and physical schemes to spaceflight. The second theme explores goals at extending the presence of human beings in space and the moon. Its objective focuses on conducting exploration in the moon surface, low earth orbit, and in the deep area. Develop is the third theme whose strategic goal is to address the challenges of the country and speeds up economic growth. The objectives of the third theme include the inspiration of the people to engage in space, aeronautics, technological research, and science. Lastly, we have Enable, which its strategic goal aims at optimizing operations and capabilities. The objectives of this theme include managing human capital, ensuring the protection of firms, enabling space services access, engaging in partnership strategies, and supporting infrastructural operations. Resources Allocation NASA relies on its strategic plan so that it can allocate its resources. The chief officer of NASA's Strategic System Technology Program uses a program that quantifies and assesses risks involved in a project according to the organization's strategic plan and calculates the anticipated return on the investment. NASA also uses technological planning, another level of policy where it starts with a technical team piloting planning that is extensive early in pre-face A (Dario et al., 2019). NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 5 NASA Programing The plan and projects that are done by NASA are set by the president of the United States. For example, in the year 1961, President Kennedy put his focus on sending people to the moon in a decade and achieved this goal in 9 years. NASA also has an internal department that is known as Capital Investment council (CIC), which examines capital investments that are done by the agency and policies around these projects. The CIC ensures that NASA has a balance among programs that cut-across investment in technology, enterprise scheme investment, and institutional investment. The CIC provides that the agency can execute its plan for substantial and long-term investments. The CIC advises the Administrator on what projects to prioritize, problem resolution, and how to balance the agency's resources among or its strategic goals. The advice given by the CIC to the Administrator is a critical element in the process of implementation and developing the budget. The decisions on a project to invest in are made after a review of the proposed project is made to find out the cumulative project's effects to be initiated has on the resources of the agency. They can also look at the expected returns and the benefits that the project will bring to the people of the United States and the world at large. Budget System The budget system that is used by NASA as so is much other government organization is known as performance budget. The performance budget reveals both the input of resources and the output for every unit in a firm. The primary purpose of using a performance budget is to identify and score comparative performance basing the results attained for a particular outcome. NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 6 In most cases, the performance budget is used by government agencies and bodies so that it can show how the taxpayer money is being used and the outcomes or benefits of the projects. GPRA necessitates the Agency to submit a performance plan and a transmittal to the Congress of the President's budget. The performance plan is presented annually and contains goals that are measurable and that are going to be achieved during the fiscal year. The Performance plan targets are required to indicate some level of accomplishment proportionate to the resources requested and those already funded. In every fiscal year, NASA is required to provide a minimum of two Performance plan where the first plan is an initial plan that is submitted alongside the NASA budget request and the final plan usually shows the policy, programmatic decisions, budget and its steadiness with the budget of the president. What is interesting about how the NASA budget is prepared is about its accountability. The budget is evident as it indicates what is done, what remains to be done, and how much amount of money is required. The fact that the performance plan is a must and should indicate the progress of the project makes it is to manage and be accountable for its expenditure (Kirasich et al., 2016). General Budget Execution NASA has a Strategic Enterprise that is in charge of integrating resources planning and program planning in the course of budgeting. The enterprise determines areas to spend its budget on by making a lot of preliminary decisions according to change in funding, ongoing performance, and the emphasis of the program. After the Strategic Enterprise has received feedback on their Central budget requirement in regards to the POP call, they work efficiently to try and balance the projected resources with the activities that they identified in the implementation plan. The general idea to monitor spending is by looking at the performance NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 7 plan. NASA's financial reports entail the performance of the agency, which includes reports on the costs of projects, accomplishment, and program efforts, if any. The reports also indicate how the plans have been financed and how the organization's assets are being managed. Therefore, the department in charge of monitoring the agency's spending will have to look at these annual financial reports. NASA is required to write a financial report that indicates it’s spending so that it can fulfill its duty of being publicly accountable for the funds allocated to it and that it followed the required laws and regulations. Financial reports are done annually are supposed to show whether the acquisition and use of budgetary resources were according to the laws of the land. The reports should indicate the status of the agency's fiscal resources. Finally, the documents should note whether the use of NASA's budgetary resources is in any way related to the costs of their programs and if there is the consistency of the information given in the status of the fiscal resources with the other accounting details on liabilities and assets. Accounting Systems Used by NASA NASA uses the modified accrual concept in its accounting system. A modified accrual concept is a bookkeeping concept that combines both the accrual concept and the cash concept. Modified accrual concept identifies revenue when they become measurable and available but has a few exceptions, such as it only records expenses when liability is experienced. The cash concept recognizes transactions after a cash transaction has been exchanged, and it does not recognize costs until the payment is made. Therefore the anticipated revenue is only recorded in the financial statement when payment is made. The accrual concept is contrary to the cash concept as it records expenses when they happen. NASA combines the accrual concept of NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 8 accounting, which has sophisticated abilities and a clear cash concept so that it can match the associated revenues with expenses. NASA prefers the modified accrual as it focuses on the obligations of the current year. The Government Accounting Standard board accepts the method despite not being accepted by other accounting bodies. NASA prefers this method as it is efficient to its obligations of reporting on whether the revenue of the current year is enough and to show whether the organization's resources are used as per the budget (Kirasich et al., 2016). Modified accrual concept helps NASA to put its focus on liabilities and assets that are short-termed. The method also helps the organization to divide the funds available for different purposes that ensure money is appropriately used. NASA has a department in charge of working capital known as the Working capital Fund (WCF) that provides financial reports periodically to the CFO of NASA. Financial Management NASA is required to comply with the Federal Agencies on the concepts it uses, standards, and other requirements by the Federal Accounting Standard Advisory Board (FASAB) on its financial operations and management. It should also comply with the provision of the U.S. Treasury Department and follow the proceedings of the NASA Financial Management Requirements. The activities of NASA, which is the WFC, are funded by the payments it receives for goods and services it provides to its customers. The provision on reimbursement states that money should be paid in advance for products and services at a rate that will give approximates of the expenses of the operations. The amount made by the WCF is accessible without the limitations of the fiscal year. The amount of money that NASA charges for its goods and services include the amount that is enough to fund the continuing operations, procure capital NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 9 assets, and adjust for previous year outcomes of activities. NASA borrows money from the U.S. Treasury to fully fund all services that are non- profitable after the approval of the budget by the congress. NASA is required to use money donated to it by the government on pertains that will bring the highest return. Financial Reporting The Chief Financial Officer (CFO) is governed by the Chief Financial Officers Act, whose purpose is to improve on the business practices of the Federal government by coming up with a structure for central coordination of financial administration. The responsibility of the CFO is to create policies, procedures to be followed in NASA's financial accounting reporting, standards, and conducting a periodic review on financial reporting practices and accounting practices. The DCFO and the CFO are responsible for all financial reports of the organization. The CFO ensures that NASA's financial policies are applied, and he also establishes procedures to be followed. He/she is in charge of oversight to endure that the WCF is appropriately managed and the financial operations are in order. The CFO advises NASA's headquarters, the WCF, and the Center on reporting and accounting policies. Finally, the CFO comes up with reports that are in line with external financial reporting procedures. The WCF of NASA is expected to produce a business document that is audited annually. The materials include NASA's annual accountability report and performance. The audited statements are then submitted to NASA's inspector general by the accountability office of the government (Anthony, Krainak, Janches, Jones, & Blagojevic, 2019). NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 10 Performance Management For NASA to effectively execute its organization's mission, the agency has to meet or even go beyond the stipulated and drawn in its strategic and performance strategies, which is one of the agency's mandate. Apart from the overall management strategies, there are various ways that the agency uses to assess its performance at all levels of management, they include, objective and certifiable performance metrics, compatible tools, steady management perception and appraisal processes, discrete employee, agency's programs and projects fictional; offices and centers and strategic enterprises In the high levels, the agency every particular is used in situating performance goals, estimating performance in contrast to those goals, and reporting the results. In well-cared, thought, functional, and selected performance measures, the yearly performance assessment turns out to be one of the most excellent significant ways of recognizing problem zones and chances for better administration and better organizational efficiency. Though agency annual GPRA performance report and other external reporting requirements. The fundamental principle is that the community and elected officials are eligible to assurances that seizures wished and received have been, and will remain proficiently and efficiently for agreed goals and tasks (Anthony et al., 20190). External reviews show that NASA has steadily been successful due to its relations with researchers in the universities and other independent organizations. Other organizations, including non-governmental ones review independent validation performance measures by NASA. Through education on performance management, the agency's human resource NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 11 department has a policy of training its employees relating to principles of performance management. Risk Management NASA's program for risk management is to offer an efficient risk management system that's is compatible with all other agency undertakings and applied relations. It is harmonized around the agency borders to make sure the decisions made on risk management are suitably delegated. NASA has its risk management group, which was brought on board to help in risk management and to also effectively implement the agency's policies of risk management, and also liaise with the agency's office for safety and assurance of the mission. It is this office that addresses the challenges and chances of this risk and a concern to NASA to implement and advance the risk management plans and policies. NASA's risk managing group has a wide variety of duties across the organization. The results are shared across this working group to improve communication and partnerships around all stations. It's a fundamental requirement as per the agency's' mission for all organizations to easily access the data to handle risk management efficiently. Opportunity management is a form of risk management that says that spaceflight is a dangerous encounter and its approach should be that of maximizing gain while minimizing loss The following are the form of risk management NASA uses, strategic, institutional, program/project, enterprise, acquisition. These forms of risk management can group into two main processes. Firstly, one risk- (and opportunity) informed decision making, which includes a vast knowledge of available choices and alternatives to achieve the objective. Second, is constant risk management that involves proper execution of the selected option to make sure the desirable NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 12 needs are met. The above forms of risk management are dependent on both known and unknown risks. Continuity NASA has a responsibility to make sure it enables a highly effective continuity. It comprises of agency's programs that are made to make sure the consistent performance of important activities under all circumstances as outlined in the policy directive by the president (PPD). It does that through the following. Executing continuity of procedures (COOP) plans castigated under the fundamental four grounds of planning and managing programs. The agency has to ensure that there is appropriate delegation, leadership transition, come up with a proper plan to allow smooth succession and authorities that are devolved. Ensuring that facilities, essential resources, and critical records are secured to support operations that come with continuity. In case of an emergency, the agency is required to create an allowance to enable the procurement of essential resources that would ensure continuity. To guarantee the execution of crucial activities, The Agency is required to acquire severe means of communication primarily and other sites (Kirasich et al., 2016). For the agency to have a proper structure of exercise and ready personnel to undertake and support the process of continuation, it's required to have essential requirements, procedures, and components in place. To create a proper means of notifying and alerting its personnel, both the continuing and non-continuing. Through the risk management process, NASA critical infrastructure (NCI) asses the criticality of the mission and the components that come with it — making sure that essential functions of the ...
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Final Answer

Attached.

Running Head: NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA) 1

National Aeronautics and Space Administration (NASA)
Name
Institution affiliation
Date

NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA)

2

National Aeronautics and Space Administration
Introduction
NASA stands for national aeronautics and space administration, which is a self-governing
agency in the United States of America and is in charge of a space program. The organization's
headquarters location is in Washington, DC, and it is composed of over 1700 employees. The
organization has a jet propulsion laboratory, nine branches, and seven tests and research service
centers across the country. The organization contracts other outside employees. NASA came into
existence in 1958, taking over from the previous organization National Advisory Committee for
Aeronautics (NACA) to be civilian oriented. The new organization aimed to encourage the
peaceful application of space science. Since the transition from NACA to NASA, the
organization has made reputable progress in space science aeronautics and earth science. Some
of these achievements include project mercury. America's first aeronauts landed in space, the
Gemini program, which used to prepare to land on the moon. The Apollo program where
aeronauts walked on the moon and got home securely, the space shuttle that carried aeronauts to
space and brought them back and the Saturn V that tossed humans to the moon (Kirasich et al.,
2016).
NASA has a broad variety activity that is involved in, these activities are, conducting
scientific research, NASA satellites helps people learn more about the earth, space examinations
helps in air travel, and flight. NASA also assists teachers in offering knowledge to engineering,
scientist, and aeronautics students. The mission statement of NASA aims at leading to a
sustainable and innovative program of exploration with global and commercial partners so that

NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA)

3

they can enable human research through the solar system so that they can bring back to earth
new opportunities and knowledge.
NASA, as a U.S. State Agency, Serves the United States of America
NASA has a well-established advisory committee that is committed to the planning,
space technology, responsible for space knowledge and applications, and human space
aerospace. Strategic planning, preparation, and allocation of resources.
NASA's Plan, Vision, and Goals
NASA incorporated all programs that are administrative for exploration in space with a
target of achieving the 2018 strategic plans. The program aims to promote transparency and
accountability, and it highlights both the tangible and intangible benefits that the American
people are likely to get from NASA's activities. The vision of the organization is to expand and
discover knowledge for the benefit of the people. For example, NASA has an ambiguous goal of
landing people by 2024 on the Moon. They also plan to land human being in Mars by 2030s. The
plan is then given consistent, strong, and sustained leadership by the Congress, NASA and the
President.
Strategic Goals and Objectives
NASA produces a strategic plan after every four years, where it last produced it in 2018.
NASA's 2018 strategic plan outlines the direction that the organization is going to take through
2021 and beyond that. NASA has four themes of a strategic plan that are ideas that are related to
NASA's goals. The four topics include explore, discover, develop, and enable. The fourth theme
aims to do projects and activities that will help in achieving the mission of the organization. All

NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA)

4

the plans of the organization are linked together as achieving one goal leads to the next plan
(Dario et al., 2019).
The four themes of NASA, which represent its goals, have objectives that they aim at
making. The first theme of discovering has a strategic goal that aims at expanding the knowledge
of humans through innovative scientific discoveries. The objectives of this theme aim at
understanding the earth, sun, universe, and solar system, and planet, responses of biological and
physical schemes to spaceflight. The second theme explores goals at extending the presence of
human beings in space and the moon. Its objective focuses on conducting exploration in the
moon surface, low earth orbit, and in the deep area. Develop is the third theme whose strategic
goal is to address the challenges of the country and speeds up economic growth. The objectives
of the third theme include the inspiration of the people to engage in space, aeronautics,
technological research, and science. Lastly, we have Enable, which its strategic goal aims at
optimizing operations and capabilities. The objectives of this theme include managing human
capital, ensuring the protection of firms, enabling space services access, engaging in partnership
strategies, and supporting infrastructural operations.
Resources Allocation
NASA relies on its strategic plan so that it can allocate its resources. The chief officer of
NASA's Strategic System Technology Program uses a program that quantifies and assesses risks
involved in a project according to the organization's strategic plan and calculates the anticipated
return on the investment. NASA also uses technological planning, another level of policy where
it starts with a technical team piloting planning that is extensive early in pre-face A (Dario et al.,
2019). NASA is funded by the United States government where they submit, they budget and it

NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA)

5

is approved by the Congress. For example, the Agency’s budget for 2020 fiscal year is $22.6
billion. This amount of money is a representation of 0.48 % of the total budget of the U.S which
is $ 4.7 trillion. In order to determine what projects or priority to follow, NASA looks at their
mission and they then fund the critical missions in their budget
During project budget allocation NASA uses Critical Chain Project Management
(CCPM). This is a methodology and structure considered to be a breakthrough on efficient
resource allocation. Firstly, projected are harmonized and integrated to one database to mitigate
constraints making resources available for a project completion. CCPM focuses on the active
projects. Other projects are either termed as underway or scheduled for the following year. This
initiative allows the active and underway project to get the funding first and ensure their
completion and timing, although some may delay following how they came into the schedule and
due to other factors. Once a project is complete, other projects becomes the epicenter of the
resource allocation until they are complete too. Other projects in the line are frozen, which
means that they are allocated resources in aid to prepare them become active once the former is
completed. When the schedule comes for the frozen projects to begin, required assets are moved
from the completed project to the new one. The CCPM methods involves holding of three
meetings in a week to address the issues of resource allocation, resolve weekly items and ensure
full package is set for a start of a new project.
NASA Programing
The plan and projects that are done by NASA are set by the president of the United
States. For example, in the year 1961, President Kennedy put his focus on sending people to the
moon in a decade and achieved this goal in 9 years. NASA also has an internal department that is

NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA)

6

known as Capital Investment council (CIC), which examines capital investments that are done by
the agency and policies around these projects. The CIC ensures that NASA has a balance among
programs that cut-across investment in technology, enterprise scheme investment, and
institutional investment. The CIC provides that the agency can execute its plan for substantial
and long-term investments.
The CIC advises the Administrator on what projects to prioritize, problem resolution, and
how to balance the agency's resources among or its strategic goals. The advice given by the CIC
to the Administrator is a critical element in the process of implementation and developing the
budget. The decisions on a project to invest in are made after a review of the proposed project is
made to find out the cumulative project's effects to be initiated has on the resources of the
agency. They can also look at the expected returns and the benefits that the project will bring to
the people of the United States and the world at large.
Budget System
The budget system that is used by NASA is similar to the one used by other government
organization and is known as performance budget. The performance budget reveals both the
input of resources and the output for every unit in a firm. The primary purpose of using a
performance budget is to identify and score comparative performance basing the results attained
for a particular outcome. In most cases, the performance budget is used by government agencies
and bodies so that it can show how the taxpayer money is being used and the outcomes or
benefits of the projects. Another method for spending plan used by NASA is through cutting
costs. For example, NASA’s mission to launch rocked in exploring Jupiter moon by 2024, will

NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA)

7

need the Agency to spend plan and use rockets that are commercially available. This plan will
see the U.S government save over $1.5 billion.
GPRA necessitates the Agency to submit a performance plan and a transmittal to the
Congress of the President's budget. The performance plan is presented annually and contains
goals that are measurable and that are going to be achieved during the fiscal year. The
Performance plan targets are required to indicate some level of accomplishment proportionate to
the resources requested and those already funded. In every fiscal year, NASA is required to
provide a minimum of two Performance plan where the first plan is an initial plan that is
submitted alongside the NASA budget request and the final plan usually shows the policy,
programmatic decisions, budget and its steadiness with the budget of the president. What is
interesting about how the NASA budget is prepared is about its accountability. The budget is
evident as it indicates what is done, what remains to be done, and how much amount of money is
required. The fact that the performance plan is a must and should indicate the progress of the
project makes it easy to manage and be accountable for its expenditure (Kirasich et al., 2016).
General Budget Execution
NASA has a Strategic Enterprise that is in charge of integrating resources planning and
program planning in the course of budgeting. The enterprise determines areas to spend its budget
on by making a lot of preliminary decisions according to change in funding, ongoing
performance, and the emphasis of the program. After the Strategic Enterprise has received
feedback on their Central budget requirement in regards to the POP call, they work efficiently to
try and balance the projected resources with the activities that they identified in the
implementation plan. The general idea to monitor spending is by looking at the performance

NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA)

8

plan. NASA's financial reports entail the performance of the agency, which includes reports on
the costs of projects, accomplishment, and program efforts, if any. The reports also indicate how
the plans have been financed and how the organization's assets are being managed. Therefore,
the department in charge of monitoring the agency's spending will have to look at these annual
financial reports.
NASA is required to write a financial report that indicates it’s spending so that it can
fulfill its duty of being publicly accountable for the funds allocated to it and that it followed the
required laws and regulations. Financial reports are done annually are supposed to show whether
the acquisition and use of budgetary resources were according to the laws of the land. The
reports should indicate the status of the agency's fiscal resources. Finally, the documents should
note whether the use of NASA's budgetary resources is in any way related to the costs of their
programs and if there is the consistency of the information given in the status of the fiscal
resources with the other accounting details on liabilities and assets.
For NASA control the cost estimates and management, they transformed how well they
managed projects and programs, procurements and acquisition techniques especially for their
most difficult scientific missions. They usually ask for cost estimates from a strengthened
program through the collection of data both internally and externally and incorporating several
formal decision facts as gates to the next developmental stage. This strategy has seen several
NASA missions be completed under or exact in the estimated budget.
Accounting Systems Used by NASA
NASA uses the modified accrual concept in its accounting system. A modified accrual
concept is a bookkeeping concept that combines both the accrual concept and the cash concept.

NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA)

9

Modified accrual concept identifies revenue when they become measurable and available but has
a few exceptions, such as it only records expenses when liability is experienced. The cash
concept recognizes transactions after a cash transaction has been exchanged, and it does not
recognize costs until the payment is made. Therefore, the anticipated revenue is only recorded in
the financial statement when payment is made. The accrual concept is contrary to the cash
concept as its re...

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Carnegie Mellon University

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