GUIDANCE FOR PROPERTY_ PLANT AND EQUIPMENT

Document Sample
GUIDANCE FOR PROPERTY_ PLANT AND EQUIPMENT Powered By Docstoc
					DRAFT INVENTORY AND RELATED PROPERTY ROLL-FORWARD REPORTING GUIDE Background The Treasury Closing Package (TCP) requires agencies to prepare and submit a rollforward reconciliation report for Inventory and Related Property. This reporting is part of the TCP footnote for Inventory and Related Property. The report’s beginning balance must agree with the ending balance for the preceding fiscal year. In addition, the rollforward report end of year balance must agree with the year-end balance reported on the TCP for PP&E by category, which must agree with the balance sheet line for PP&E. Procedures Field Offices must run, review, and reconcile the STARS DOE Inventory Roll-Forward Allottee Report quarterly to ensure the report’s Line 8, Inventory Balance End of Year (Period), agrees with the Line 9, Ending General Ledger Balance for Inventory Accounts (as of the end of the reporting period). The STARS report automatically compares Lines 8 and 9 and reports on Line 10, the tie point difference. The Field Offices must research any tie point differences and correct the affected Standard General Ledger (SGL) accounts on the report in order for the tie point difference to be zero. For the third quarter and at year-end, the Field Offices will submit a roll-forward report by allottee to Headquarters in accordance with that year’s Third Quarter and Year-End Financial Statement Requirements memorandum issued by Headquarters. The following is a listing and summary description of the SGL accounts making up the STARS report. Line 1, Inventory – Balance Beginning of Year SGLs 15000000- 15XXXXXX, Inventory and Related Allowance Accounts. This line consists of the ending balance for the preceding fiscal year for all SGLs 15XX. These are inventory asset accounts and accumulated allowance and amortization accounts. SGL 1990A600, Other Assets, Non-Budgetary – Oil Due from Others. SPRO use only. This line represents balance requiring reclassification for oil due from others, but not yet recorded in the appropriate asset account. Line 2, Prior Period Adjustments (not restated) SGL 74010200, Prior Period Adjustments, Not Restated, Inventory. This line represents inventory items whereby the amount of material adjustments affects the cumulative results of operations. However, the adjustments do not require restating of prior-period financial statements in accordance with FASAB SSFAS No. 21, Reporting Corrections of Errors and Changes in Accounting Principles.

DRAFT Field Offices should not use this account without prior approval of the Director, Office of Finance and Oversight, at Headquarters.

2

Line 3, Capitalized Acquisitions SGL 88030200, Purchases of Capitalized Inventory. This line represents the purchases of inventory capital assets during the fiscal year. SGL 88030300, Purchase of Funded Inventory. This line represents the acquisition of funded inventory. Line 4, Financing Sources Transferred. SGL 56100200, Donated Revenue, NonFinancial Resources-Inventories. This line represents the donation of nonfinancial resources, such as inventories, to DOE from a non-Federal Government entity. SGL 57200700, Financing Sources Transferred in Without Reimbursement, NonBudgetary-Stockpile Materials Held in Reserve. This line represents the amount of stockpile material inventory transferred in from one DOE entity to another DOE entity. SGL 57200800, Financing Sources Transferred in Without Reimbursement, NonBudgetary-All Other DOE. This line represents the amount of any other inventory or related property transferred in from one DOE entity to another DOE entity. SGL 57200900, Financing Sources Transferred in Without Reimbursement, NonBudgetary-All Other Non-DOE. This line represents the amount of inventory or related property transferred in from a non-DOE entity to DOE. SGL 5720A100, Financing Sources Transferred in Without Reimbursement, NonBudgetary-Interoffice Inventory. This line represents the amount of any other inventory transferred in from another DOE office. SGL 5720B600, Financing Sources Transferred in Without Reimbursement, NonBudgetary-Interoffice. This line represents the amount of any other inventory related property transferred in from another DOE office. SGL 57300700, Financing Sources Transferred out Without Reimbursement, Non-Budgetary-Stockpile Materials Held in Reserve. This line represents the amount of stockpile material inventory transferred out of one DOE entity to another DOE entity.

DRAFT SGL 57300800, Financing Sources Transferred out Without Reimbursement, Non-Budgetary-All Other DOE. This line represents the amount of any other inventory or related property transferred out of a DOE entity to another DOE entity. SGL 57300900, Financing Sources Transferred out Without Reimbursement, Non-Budgetary-All Other Non-DOE. This line represents the amount of inventory or related property transferred out of a DOE entity to a non-DOE entity. SGL 5730A100, Financing Sources Transferred out Without Reimbursement, Non-Budgetary-Interoffice Inventory. This line represents the amount of inventory or related property transferred out to another DOE office. SGL 5730B600, Financing Sources Transferred out Without Reimbursement, Non-Budgetary-Interoffice. This line represents the amount of any other inventory related property transferred out to another DOE office. SGL 5900E200, Other Revenue, Exchange-Not in DOE’s Budget. This line represents the amount of revenue not otherwise classified mainly pertaining to SPRO oil. Line 5, Inventory Sold or Used. SGL 65000300, Cost of Goods Sold-SPRO Oil Sales. This line represents costs pertaining to the sale of SPRO oil. SGL 6500F000, Cost of Goods Sold-Budgeted. This line represents budgeted costs pertaining to the sale of Isotopes. Funds 02300 and 02301. SGL 6500U000, Cost of Goods Sold-Non Budget. This line represents non budgeted costs pertaining to the sale of Isotopes. Funds 02300 and 02301. SGL 67900200, Other Expenses Not Requiring Budgetary Resources-Nuclear Material Costs. This line represents nuclear material costs that do not require budgetary resources. SGL 67900300, Other Expenses Not Requiring Budgetary Resources-SPRO Oil Costs. This line represents SPRO oil costs that do not require budgetary resources. Line 6, Inventory Amortization and Depletion. SGL 67100900, Depreciation, Amortization and Depletion-All Other Assets. This line represents expenses recognized as an allowance or a process of allocating costs over a period of time.

3

DRAFT

4

Line 7, Adjustments SGL 2990F200, Other Liabilities, Inventories Held for Others (Oil Due from Others). This line applies only to SRPO, fund 00700 and represents additional expenditures requiring capitalization by SPRO. SGL 71100200, Gains on Disposition of Assets–Nuclear Materials. This line represents the gain on the disposition (such as disposal or retirement) of nuclear materials. SGL 71100300, Gains on Disposition of Assets–SPRO Oil. This line represents the gain on the disposition (such as sale, exchange, disposal or retirement) of SPRO oil. SGL 71900200, Other Gains-Nuclear Materials. This line represents the gain on nuclear materials resulting from events other than disposition. SGL 71900300, Other Gains-SPRO Oil. This line represents the gain on SPRO oil resulting from events other than disposition. SGL 72100200, Losses on Disposition of Assets-Nuclear Materials. This line represents the loss on the disposition (such as disposal, or retirement) of nuclear materials. SGL 72100300, Losses on Disposition of Assets-SPRO Oil. This line represents the loss on the disposition (such as sale, exchange, disposal, or retirement) of SPRO oil. SGL 72900200, Other Losses-Nuclear Materials. This line represents the loss on nuclear materials resulting from events other than disposition. SGL 72900400, Other Losses-SPRO Oil. This line represents the loss on SPRO oil resulting from events other than disposition. SGL 72900900, Other Losses-All Other. This line represents the loss on any other inventory or related property resulting from events other than disposition. SGL 74000200, Prior Period Adjustments Restated, Inventory. This line represents a material adjustment affecting the cumulative results of operations. Field Offices should not use this account without prior approval of the Director, Office of Finance and Oversight, at Headquarters. Line 8, Inventory – Balance End of Year (Period) (This line is a calculation of the above balances.)

DRAFT Line 9, Ending General Ledger Balance of Inventory Accounts SGLs 15000000 – 15XXXXXX, Inventory and Related Allowance Accounts. This line consists of the ending balance for the fiscal year for all SGLs 15XX. These are inventory asset accounts and accumulated allowance and amortization accounts.

5

SGL 1990A600, Other Assets, Non-Budgetary – Oil Due from Others. SPRO use only. This line represents balance requiring reclassification for oil due from others, but not yet recorded in the appropriate asset account. Line 10, Tiepoint Difference This line represents the difference between the inventory roll-forward calculation on line 8 and the ending general ledger balance of inventory asset accounts presented on the balance sheet. The amount shown should be zero.


				
DOCUMENT INFO