The following key points are emphasized in this chapter:
The U.S. General Accounting Office (GAO) periodically reports to Congress on the performance and accountability of various U.S. government agencies. In its report on the Small Business Administration (SBA), established to help small U.S. businesses, the GAO concluded:
The SBA continues to have difficulties producing complete, accurate, and timely financial statements. It incorrectly calculated the accounting losses on loan sales and did not perform key analyses to determine the overall financial impact of the sales. These errors and lack of key analyses also mean that congressional decision-makers are not receiving accurate financial data to make informed decisions about the SBA's budget and appropriations.
This quote reflects a problem confronting many large and well-known U.S. companies, not just governmental agencies—a ...