Description:
DAF CICPs need ELMS to enable OM&S financial reporting using the Latest Acquisition Cost (LAC) methodology. This is the valuation method selected by the DAF for CICP managed OM&S spare parts. LAC should replace the current Moving Average Cost (MAC) valuation method sent to GAFS-R from the ELMS ICP module. Each ELMS catalog entry will contain a data element identifying the valuation methodology. PDC 1510 will add a data element to the 832N transaction for the valuation methodology. ELMS will need to update their 832N processing for PDC 1510 once its approved. For the existing stock numbers, ELMS will need to update all type asset code = ‘O’ stock numbers in the AF CMP GFP catalog to add the new data element from PDC 1510. ELMS will need to add support for a new Accounting Transaction that will be used to report the revaluation of existing inventory to the LAC. For DAF, this will need to be translated into a Bid Number (new one to be assigned) for GAFS-R reporting. Solution needs to be in place to turn on financial reporting in FY26.
Recommended:
Recommend that ELMS Materiel Mgmt., Catalog, and Accounting services to support the add the LAC valuation methodology to enable financial reporting (replacing MAC), add a data element to the catalog to identify the valuation methodology of OM&S, update the 832N processing for compliance with ADC 1510, update AF CMP GFP catalog with new data element to enable financial reporting, update accounting to support the accounting of OM&S using LAC and for the revaluation of existing inventory to LAC, and implement new bid code GAFS-R.
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