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Volume 4, Chapter 17 Dod Financial Management Regulation

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Volume 4, Chapter 17 Dod Financial Management Regulation Volume 4, Chapter 17 DoD Financial Management Regulation CHAPTER 17 EXPENSES AND MISCELLANEOUS ITEMS 1701 GENERAL 170105 A miscellaneous item is a gain or loss not expected to be incurred during a normal 170101 Purpose. This chapter prescribes operating cycle. As such, they are not reflected guidance to account for expenses incurred in in reports as a current expense but are classified carrying out Department of Defense operations. and reported as nonrecurring items, extraordinary items, or unusual items. An 170102 Overview. An expense is a recognition example of a miscellaneous item would be a gain of the portion of an outlay applicable to the or loss resulting from the disposal of unusable current accounting period, or other use of a equipment. A gain could be a miscellaneous resource, or the incurring of a liability (or a gain whereas a loss on disposal would be a combination of these events) as a result of the miscellaneous loss. DoD’s efforts to perform its missions. 170106 The treatment of expense items by 170103 Expenses are the natural culmination of Defense Business Operations Fund activities is any DoD Component’s operations. They occur different from the treatment accorded to as a part of normal, routine operations, and not expenses related to appropriation funded an extraordinary or an unexpected event such as activities. For Defense Business Operations Fund destruction through natural disasters or war. activities expenses flow through the "Work in They are an application of budgetary resources Process" Account to the "Cost of Goods" made available to DoD Components without Account. regard to the period of availability of the account. Goods and services ordered and 1702 ACCOUNTING POLICY FOR received are recorded in the budgetary accounts EXPENSES AND MISCELLANEOUS as accrued expenditures and in the proprietary ITEMS accounts as an expense or an asset, such as a capital item, or an inventory item. The 170201 The Department of Defense is proprietary accounts maintain financial control accountable for its stewartship in expending over the resources provided to the Department resources necessary in carrying out its missions. of Defense and assure full accountability once Examples of operating expenses include those for the budget execution process has been personnel, contractual services, and material. completed. Full financial control over all Also included is an allocation of prior capital material, labor, supplies, etc., shall be maintained outlays (depreciation/amortization) when such until consumed (expensed), sold or transferred to information is necessary for management another Federal Agency in accordance with decision-making purposes, to meet external statutory authority. For Defense business reporting requirements, or to recover costs of operations fund activities, expenses are incurred operations. in providing goods and services to customers. Figure 17-1 on the following page illustrates the 170202 Particular attention is to be given to relationship between the budgetary accounts and expenses incurred by research and development the expense accounts. programs, or related to the search for knowledge and the conversion of knowledge into use for 170104 Expenses are classified as to specific DoD missions. categories, such as accounts to record depreciation, amortization, bad debt and interest expenses. 336 DoD Financial Management Regulation Volume 4, Chapter 17 ACCRUED EXPENDITURES PAID AND EXPENSE ACCOUNTS RELATIONSHIPS ACCRUED EXPENDITURES PAID FIXED ASSETS WORK IN PROCESS OR EXPENSES CONSTRUCTION IN PROGRESS FIXED ASSET OR INVENTORY When goods or services purchased are paid for they are recorded as an Accrued Expenditure-Paid in budgetary accounts. In proprietary accounts, they are recorded either in an account such as fixed assets (if capitalized) or inventory, or as an expense. Those items recorded as an asset are ultimately consumed in the DoD Component’s operation. Items initially recorded as an expense may, especially at DBOF depot maintenance activities, be transferred to work in process until such time as an item is completed. Figure 17-1 337 Volume 4, Chapter 17 DoD Financial Management Regulation A. Expenses incurred for research and accounts are available for use except the development shall be recorded and reported as following: an expense in the period incurred. 1. 6310 Interest Expenses on Borrowing From B. Costs for property, plant, or Treasury equipment acquired or constructed for a 2. 6600 Applied Overhead particular research and development project are 3. 6900 Other Expenses to be capitalized if the acquisition cost is over 4. 7191 Inventory Gains $50,000 and the items have a life expectancy of 5. 7192 Investment Gains more than 2 years. When the project is 6. 7291 Inventory Losses or Adjustments completed, these items shall be disposed of in 7. 7292 Investment Losses accordance with the guidance contained in 8. 7500 Distribution of Income-Dividend Chapter 7 of this Volume. Chapters 1 and 6 of 9. 7600 Changes in Actuarial Liability this Volume provide accounting guidance for capitalizing and depreciating or amortizing B. Defense Business Operations Fund assets. activities. The 6100 series accounts may be used to systematically accumulate costs. All other 1703 ACCOUNTING FOR EXPENSES accounts are available for use as necessary depending upon the specific business area, 170301 The following sections discuss each except the following: type of expense. The sections are categorized as to operating/program expenses, interest 1. 6310 Interest Expense on Borrowing from expenses, benefit program expenses, cost of Treasury goods sold, applied overhead, and other 2. 6320 Interest Expenses on Federal Securities expenses. Unless otherwise stated, these 3. 6400 Benefit Program Expenses accounts shall be applicable to all DoD 4. 7500 Distribution of Income-Dividend Components. Closing entries are not illustrated; 5. 7600 Changes in Actuarial Liability these entries are contained in Chapter 16 of this Volume. C. Trust Fund activities. All accounts are available for use as necessary depending on 170302 The accounting entries for the specific trust fund, except the following: operating/program expenses are, for the most part, the same. Accordingly, each of the expense 1. 6310 Interest Expenses on Borrowing From accounts is first discussed in a logical grouping Treasury and the accounting entries associated with those 2. 6320 Interest Expenses on Federal Securities groupings are then presented. These groupings 3. 6600 Applied Overhead are: 4. 7500 Distribution of Income-Dividend 5. 7191 Inventory Gains A. Accounts 6111-6115 -- payroll expenses 6. 7291 Inventory Losses B. Accounts 6116-6124 -- general expenses C. Accounts 6125-6126 -- depreciation expenses 170304 For expense transactions that pass D. Account 6127 -- depletion expense through an accounts payable or accrued payroll E. Account 6128 -- amortization expense account, the budget account entry to be made is F. Account 6129 -- bad debt expense provided in Table 17-1. G. Account 6130 -- annual leave 170305 In some instances, an immediate cash 170303 The use of the accounts discussed in outlay is made at the time the expense is this Chapter by appropriated, business incurred. This is the situation when the expense operations fund and trust fund activities is is incurred through the use of an imprest fund. summarized as follows: To ensure that the budgetary and the proprietary accounts are posted in the same accounting A. Appropriated Fund Activities. All period, imprest funds shall be reimbursed at 338 DoD Financial Management Regulation Volume 4, Chapter 17 least once during each accounting period. The minimum, to report expenses by budget program budgetary account entry to be made for line, the Future Years Defense Plan, the force immediate cash outlay situations is provided in structure, and organizational unit. Table 17-2. 170308 Group A: Accounts 6111-6115 - 170306 Expenses (Account 6000) "Expenses" is - Payroll Expenses the control account for all expenses. As such, it is a summary general ledger account intended A. Personnel Compensation-Civilian for general financial statement purposes. No (Account 6111) transactions are posted to this account. 1."Personnel 170307 Operating/Program Expenses (Account Compensation-Civilian" is used to record the 6100) gross compensation for personal services rendered by federal civilian employees and A. "Operating/Program Expenses" is non-federal personnel. Compensation expenses a summary account to control subsidiary included in this account are those for full time accounts established to accumulate operating permanent; other than full time permanent; expenses for personnel, travel, communications, special personal services payments (which contractual services, etc. As such, no includes payments for reimbursable work transactions are posed to this account. performed for other agencies for services of civilian and military personnel; payments to the B. Expenses shall be identified to the Civil Service retirement and disability fund for programs to which they relate. Accordingly, reemployed annuitants); and other personnel accounting systems shall have the ability, at a compensation. BUDGETARY ENTRIES - ACCRUED EXPENSES Dr 4810 Undelivered Orders-Direct Program or, as appropriate, Dr 4820 Undelivered Orders-Reimbursable Program Cr 4910 Accrued Expenditures-Unpaid-Direct Program or, as appropriate, Cr 4920 Accrued Expenditures-Unpaid-Reimbursable Program TABLE 17-1 BUDGETARY ENTRIES - IMPREST FUND Dr 4810 Undelivered
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