DODD 7000.14-R VOL 4 CHAP 1

Abstract

<strong>Purpose</strong> <br>This chapter sets forth overall standards to be followed in accounting for assets. One of the objectives of Department of Defense (DoD) accounting is establishing financial control, from time of acquisition to time of disposal, over all assets provided to, or acquired by, the DoD. Such control ensures proper and authorized use as well as adequate care and preservation, since no asset can be acquired, put into use, transferred, written down, written off, or disposed of, without the proper authorization necessary to document and record the transaction. All tangible assets provided to the DoD shall be accounted for, including assets in transit and assets in the hands of contractors, private parties, and other government agencies.