A Financial Review of the Navy Exchange Program: 1973 to 1978.

Abstract

This thesis contains a financial review of the Navy Exchange (NEX) Program from 1973 to 1978. The program is described by developing its history, missions, organizational structure, sources of policy and dissimilarities to the private sector. A financial analysis of the program is then conducted from an 'Investor's viewpoint' to determine its current financial position and potential for future growth. The analysis is conducted utilizing the author's past experience in retail operations, NEX financial statements, various Navy manuals and instructions, interviews with NEX personnel including the Navy Resale and Services Support Office Comptroller, library references, and numerous texts of financial accounting, management, and analysis. From the results of the financial analysis a number of general conclusions are drawn. Through this method of presentation it becomes evident that the NEX Program is currently financially sound, but not without problems. The discussion presented describes these apparently unfavorable indications and suggests that more detailed study be conducted to determine their impact on the future of the NEX Program. (Author)