US · guidance
BOP Program Statement 8510.03 § 9
SHOP FLOOR CONTROL. Millennium recognizes the charges of
production during the month as an expense. Production charges
are recognized as an asset when one of the following occurs:
— when units of production are moved to the warehouse;
— when units and values are captured as a finished good
and/or subassembly; or
— when the WIP Calculation transaction is executed during
the period end closing process (Millennium recognizes
WIP only at the end of a period for reporting
purposes).
Consumption accounts and secondary cost elements are used to
accumulate production expenses (material and activity costs).
These expenses are summarized on the cost analysis report of the
production order.
History
PS 8510.03 dated 2003-07-31
Provenance
- Source
- bop.gov
- Retrieved
- 2026-09-20
- Edition
- bop-ps-2026-09-20
- Content hash
b8369c1ac5db2c7808a5a00d7038480a4a7961cdcd40a482c7cd2f0ad7a4ea9b
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