31-U.S.C.-3511

§3511 – Prescribing Accounting Requirements and Developing Accounting Systems

Pathway

Title 31 > Subtitle III > Chapter 35 > Subchapter II > Section 3511

Details

• Reference: Section 3511
• Legend: §3511 – Prescribing Accounting Requirements and Developing Accounting Systems
• USCode Year: 2013

Provision Content

(a) The Comptroller General shall prescribe the accounting principles, standards, and requirements that the head of each executive agency shall observe. Before prescribing the principles, standards, and requirements, the Comptroller General shall consult with the Secretary of the Treasury and the President on their accounting, financial reporting, and budgetary needs, and shall consider the needs of the heads of the other executive agencies.

(b) Requirements prescribed under subsection (a) of this section shall—

(1) provide for suitable integration between the accounting process of each executive agency and the accounting of the Department of the Treasury;

(2) allow the head of each agency to carry out section 3512 of this title; and

(3) provide a method of—

(A) integrated accounting for the United States Government;

(B) complete disclosure of the results of the financial operations of each agency and the Government; and

(C) financial information and control the President and Congress require to carry out their responsibilities.

(c) Consistent with subsections (a) and (b) of this section—

(1) the authority of the Comptroller General continues under section 121(b) of title 40; and

(2) the Comptroller General may prescribe the forms, systems, and procedures that the judicial branch of the Government (except the Supreme Court) shall observe.

(d) The Comptroller General, the Secretary, and the President shall conduct a continuous program for improving accounting and financial reporting in the Government.

(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 959; Pub. L. 107–217, §3(h)(5), Aug. 21, 2002, 116 Stat. 1299.)

In the section, the words the head of are added for consistency in the revised title and with other titles of the United States Code.

In subsection (a), the words of the United States are omitted as surplus. The word President is substituted for Director of the Office of Management and Budget because sections 101 and 102(a) of Reorganization Plan No. 2 of 1970 (eff. July 1, 1970, 84 Stat. 2085) redesignated the Bureau of the Budget as the Office of Management and Budget and transferred all functions of the Bureau to the President.

In subsection (b)(3), the words as a whole and respective are omitted as surplus.

Subsection (c)(2) is substituted for 31:49 and the words and, to the extent he deems necessary, the authority vested in him by section 49 of this title in 31:66(a) for clarity and consistency. H. Rept. 2556, 81st Cong. (1950), states that the Comptroller General will be able to prescribe appropriation and fund accounting systems under 31:49 in terms of principles, standards and related requirements rather than in terms of detailed forms and procedures. The reference to the judicial branch covers authority that the Comptroller General was given under 31:49 that applies to departments and establishments except the Supreme Court that was not superseded by the source provisions restated in subsection (a) of this section.

Amendments

2002—Subsec. (c)(1). Pub. L. 107–217 substituted section 121(b) of title 40 for section 205(b) of the Federal Property and Administrative Services Act of 1949 (40 U.S.C. 486(b)).

Adoption of Capital Accounting Standards

Pub. L. 101–576, title III, §307, Nov. 15, 1990, 104 Stat. 2855, provided that: No capital accounting standard or principle, including any human capital standard or principle, shall be adopted for use in an executive department or agency until such standard has been reported to the Congress and a period of 45 days of continuous session of the Congress has expired.

U.S. Encyclopedia of Law Coverage

31-U.S.C.-3330 in the Legal Encyclopedia: Financial Management

In this entry about 31-U.S.C.-3330, find legal reference material, bibliographies and premiere content related to financial management in the American Encyclopedia of Law, presenting a comprehensive view of the United States financial management-specific issues, written by authorities in the field.

31-U.S.C.-3501 in the Legal Encyclopedia: Accounting

In this entry about 31-U.S.C.-3501, find legal reference material, bibliographies and premiere content related to accounting in the American Encyclopedia of Law, presenting a comprehensive view of the United States accounting-specific issues, written by authorities in the field.

Topic Map

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