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The only other circumstance under which you
can request a survey to Ships Store Profits, Navy
(General Fund) is when your own ships profits
are considered inadequate to absorb the cost of
a large loss and you cannot properly charge the
loss to the Navy Stock Fund. The value of the
survey must generally be larger than the expected
profits from the accounting period. An example
of this condition is when there is a break-in and
a large amount of merchandise is lost through
theft.
If there is a large loss of merchandise that
profits from your ships store during the current
accounting period will not cover, a DD 200
(Report of Survey) should be prepared as a charge
to Ships Store Profits, Navy (General Fund). The
ships store officer will usually prepare the
DD 200 to report the survey. The surveying
officer will then conduct a review of the survey.
After an inventory has been made and a review
of the DD 200 has been completed by the survey-
ing officer or survey board and the DD 200 has
been approved by the commanding officer, the
original and four copies of the report should be
sent to NAVRESSO for approval. Until the
survey is approved by NAVRESSO, the value of
the loss should be carried as inventory,
If the survey is approved by NAVRESSO, the
total approved amount should be included in the
amount that is entered in the Journal of
Expenditures (NAVSUP 978) as Survey (SSPN
GF). The total approved amount should also be
entered on line B23 or line B27 (as applicable) on
the Ships Store Balance Sheet and Profit and
Loss Statement (NAVCOMPT 153). At the end
of the accounting period, the total money value
that was approved by NAVRESSO to be charged
to Ships Store Profits, Navy (General Fund),
should be included in the amount that is entered
on line C07 of the NAVCOMPT 153. If the survey
is not approved by NAVRESSO, the loss should
be expended to local ships store profits on line
B23 or line B27 (as applicable) of the NAV-
COMPT 153.
SHIPS STORE PROFITS (OWN SHIP).
The value of any surveys that you cannot properly
charge either to the Navy Stock Fund or to Ships
Store Profits, Navy (General Fund), you must
charge to local ships store profits. The most
common examples of a local profit survey are
those covering misappropriation and negligence.
Another example is if you fail to accomplish
timely markdowns of perishable stock resulting
in stock that is unfit for sale at any price.
A markdown is always preferable to a local
profits survey, since some of the original value
of the stock may be returned from sales.
Besides charging a survey to the correct
appropriation, you will also be faced with other
considerations in your use of the survey method
to expend ships store stock. In your supervision
of ships store expenditures by survey, you may
have to account for merchandise you receive after
you have surveyed it as missing in shipment. On
occasion, you may also be required to revalue
ships store stock instead of expending it totally
by survey. Both these techniques are discussed in
the information that follows.
SURVEYED MATERIAL SUBSEQUENTLY
RECEIVED. Ships store stock may be received
after it has been surveyed as missing in shipment.
The receipt of the surveyed material should be
covered by a Requisition and Invoice/Shipping
Document (DD 1149). The DD 1149 will credit
the appropriation that was previously charged by
the survey. No entry should be made to the
Journal of Receipts (NAVSUP 977), however, a
credit entry (a minus entry in red ink) should be
posted to the Journal of Expenditures (NAVSUP
978). The items received should be entered on the
Stock Record (NAVSUP 464) in the Expenditure
column as a minus entry in red ink. The word
Survey should be entered in the Received
From/Expended To column of the NAVSUP 454.
REVALUATION OF STOCK. Another
aspect of the survey method you can use to
expend ships store stock is to revalue the stock
so you can sell it at a reduced price. By this
method, you are surveying only part of the money
value of the stock as you are recovering a part
of your expenditure through sales.
The question that may cross your mind is,
Wouldnt a markdown accomplish the same goal
with less trouble? The answer is that in many cases
it would. Markdowns always charge local ships
store profits. If items were damaged through
negligence or poor stock control, or for any other
reason that would properly charge local profits
in a survey situation, a markdown would be the
proper course of action. However, to mark down
items that are damaged upon receipt or uninten-
tionally damaged by fire, water, or oil would be
improper since damage of this sort is properly
chargeable to the Navy Stock Fund.
You should never mark down Navy clothing
items. You should always revalue Navy clothing
items by survey since clothing cannot affect
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