This segment of the book contains standards, policies, and resources surrounding inventory reporting for recharge and service center units within Indiana University.

Review this section for guidance regarding requirements and best practices when a recharge or service center unit utilizes inventory while also charging for related labor and expenses. The standard within this portion of the book emphasizes the importance of accurate inventory valuation, requiring consistency with Generally Accepted Accounting Principles (GAAP), and outlines various inventory valuation methods. This portion of the guidebook stresses the need for annual physical inventory counts to maintain an accurate balance sheet and detailed records. Additionally, it covers the proper handling of unusable inventory and highlights the correct procedure for disposing of inventory materials in compliance with safety regulations. By following the best practices outlined in this portion of the book, recharge and service center units can ensure accurate financial reporting, cost control, and regulatory compliance.

Policies

Review the below policies related to inventory reporting for recharge and service center units:

• FIN-ACC-350: Accrual Accounting
• FIN-ACC-390: Inventory
• FIN-ACC-400: Recharge and Service Center Activity

Standards

Review the below standard related to inventory reporting for recharge and service center units:

• UCO-RSC-5.00: Inventory Reporting for Recharge and Service Center Units

Checklists

There are no checklists related to this portion of the book at this time. Please check back in the future!

TRAINING MATERIALS

Review the below training materials related to inventory reporting for recharge and service center units:

• Inventory FAQ
• Inventory Scanner User Guide

OTHER RELATED MATERIALS

Review the below other materials related to inventory reporting for recharge and service center units:

• Reference Document: Best Practices for Physical Inventory Document
• Reference Document: Object Code Dictionary

IU Financial system reports and procedures

Review the below IU financial system reports and procedures related to inventory reporting for recharge and service center units:

• Asset Recovery for Rate Setting Report
• Asset Detail List Report
• Asset Inventory Reconciliation Report