BOP Program Statement 8540.03 § 12

All financial data (reports, printouts, and support documentation) pertaining to the monthly

closeout are kept on file. This information may be paper-based or stored electronically, but must

be consistently stored. If electronic media are used, the medium is labeled to identify content,

month, and year of closeout. If a paper folder is kept, the folder label identifies the month and

year of closeout. The list below represents the minimum required documentation:

■ Ending Inventory Report.

■ Month End Work in Process (WIP) Report and evidence of the report balancing to G/L

account 158100, Work in Process.

■ General Ledger Open Items for G/L Account 232100, Goods Received/Invoice Received

■ Accounts Payable Aging.

P8540.03 03/18/2015 16

■ General Ledger Open Items (as of last calendar day) for miscellaneous assets, miscellaneous

inventories, and allowances as well as miscellaneous liabilities.

■ Approval of all manual journal entries.

■ Monthly job settlement transactions.

■ Fixed Assets Report I (book value option) for all classes by plant as of the last calendar day

of the month.

■ Profit and Loss Statement.

■ Monthly Certification Form.

■ Valuation for Lower of Cost or Market (95%) and Reconciliation of General Ledger Account

152800 Spreadsheet.

■ Monthly slow-moving analysis spreadsheet(s) for raw materials, finished goods, and sub-assemblies.

■ 95% Work in Process Adjustment Spreadsheet.

■ Valuation for Lower of Cost or Market (95%) for Finished Goods or Sub-assemblies

Spreadsheet.

■ Consignment.

■ Warranty Expense.