The Inventory-As-Assets Concept Implementation for Depot-Level Reparables

Abstract

The Air Force working capital fund's (WCF's) accounting vision for depot-level reparables (DLRs) focuses on selling inventories of DLRs to customers. In the private sector, the accounting vision for DLRs is built around selling an inventory service that involves DLRs (much like a car rental agency sells a service that involves cars). Compared to the WCF accounting, commercial accounting (the so-called inventory-as-assets approach) simplifies DLR accounting, improves the auditabilty of financial data, eliminates troubling adjusting entries, and complies with generally accepted accounting principles. In this report, LMI develops an operating concept of how commercial practices could be implemented for DLR accounting, and then identifies changes to policies, regulations, and data reporting systems the Air Force would have to make in order to implement that accounting scheme.

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Document Details

Document Type
Technical Report
Publication Date
Jan 01, 2000
Accession Number
ADA383373

Entities

People

  • Caroline A. Nelson
  • Craig G. Webster
  • Hong Le
  • John M. Wallace

Organizations

  • LMI

Tags

Communities of Interest

  • Air Platforms
  • Biomedical
  • Human Systems
  • Weapons Technologies

DTIC Thesaurus Topics

  • Accounting
  • Air Force
  • Air Force Facilities
  • Aircrafts
  • Best Practices
  • Business Administration
  • Department Of Defense
  • Finance
  • Financial Management
  • Information Systems
  • Inventory
  • Law
  • Logistics
  • Logistics Management
  • Maintenance
  • Military Equipment
  • Money

Fields of Study

  • Business

Readers

  • Data Mining and Knowledge Discovery.
  • Defense Financial Management and Audit.
  • Systems Analysis and Design