Summary

To help promote the effective implementation of financial management reform across the federal government, GAO studied the financial management practices and improvement efforts of nine leading public and private sector organizations--Boeing; Chase Manhattan Bank; General Electric; Hewlett-Packard; Owens Corning; Pfizer; and the state governments in Massachusetts, Texas, and Virginia. Lessons learned from the experiences of these nine organizations can help federal agencies as they continue to improve their management and financial accountability. This guide discusses the goals, success factors, and practices associated with building a world-class finance organization.