Valuation of Inventories in the Defense Logistics Agency Standard Automated Materiel Management System

Abstract

We performed this audit in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994. Inventory and inventory-related transactions represent major portions of the total assets, obligations, revenue, and expenses reported on the DoD financial statements. Underlying the financial statements are management assertions on the valuation, ownership, existence, completeness, and presentation of inventories. Assertions regarding inventory valuation deal with whether inventories had been included in the financial statements at the appropriate dollar amounts and whether the basis of valuation is appropriate, properly applied, and consistent with previous periods. Inventory valuation data for many of the DoD consumable spare parts, medical supplies, and clothing and textile items are maintained in the Defense Logistics Agency (DLA) Standard Automated Materiel Management System (SAMMS). At the end of FY 2000, DLA reported inventories of approximately $8.3 billion in SAMMS.

Open PDF

Document Details

Document Type
Technical Report
Publication Date
Oct 22, 2001
Accession Number
ADA395844

Entities

People

  • Amy J. Frontz
  • James L. Kornides
  • Kevin C. Currier
  • Paul J. Granetto
  • Richard Bird

Organizations

  • Office of the Inspector General, U.S. Department of Defense

Tags

Communities of Interest

  • Biomedical
  • Human Systems

DTIC Thesaurus Topics

  • Accounting
  • Acquisition
  • Combat Support Hospitals
  • Contracts
  • Control Systems
  • Department Of Defense
  • Financial Management
  • Governments
  • Inventory
  • Inventory Control
  • Logistics
  • Materials
  • Navy
  • Procurement
  • Sampling
  • Statistical Samples
  • Statistical Sampling

Readers

  • Defense Financial Management and Audit.
  • Logistics and Supply Chain Management.