DOD Methodology for the Valuation of Excess, Obsolete, and Unserviceable Inventory and Operating Materials and Supplies

Abstract

We performed this audit at the request of the Under Secretary of Defense (Comptroller)/Chief Financial Officer. Our objective was to evaluate the reasonableness of the DOD methodology for valuing excess, obsolete, and unserviceable (EOU) inventory and operating materials and supplies (OM&S). Background Specifically, we determined whether the methodology and assumptions provided a reasonable estimate of the net realizable value for financial reporting and were in accordance with generally accepted accounting principles. See Appendix A for a discussion of the scope and methodology, and for prior coverage related to the objective.

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Document Details

Document Type
Technical Report
Publication Date
Mar 25, 2010
Accession Number
ADA517327

Entities

Organizations

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

Tags

Communities of Interest

  • Weapons Technologies

DTIC Thesaurus Topics

  • Accounting
  • Acquisition
  • Contractors
  • Department Of Defense
  • Financial Management
  • Foreign Military Sales
  • Government (Foreign)
  • Governments
  • Information Systems
  • Inventory
  • Inventory Control
  • Local Governments
  • Materials
  • Money
  • Plastic Explosives
  • Standards
  • United States

Readers

  • Defense Financial Management and Audit.
  • Systems Analysis and Design