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NASA Ball NASA
Procedural
Requirements
NPR 9260.1A
Effective Date: February 09, 2015
Expiration Date: February 09, 2025
COMPLIANCE IS MANDATORY FOR NASA EMPLOYEES
Printable Format (PDF)

Subject: Liabilities (Revalidated with Change 1 November 26, 2019)

Responsible Office: Office of the Chief Financial Officer


| TOC | Preface | Change History | Chapter1 | Chapter2 | Chapter3 | Chapter4 | Chapter5 | Chapter6 | Chapter7 | Chapter8 | Chapter9 | AppendixA | AppendixB | AppendixC | ALL |

Chapter 1 Overview

1.1 General

1.1.1 This NPR describes the accounting procedures for recognizing and disclosing NASA liabilities in accordance with SFFASs No. 1 and No. 5, as amended, which describe the general principles governing the recognition of a liability. NASA financial statements will recognize probable and measurable future outflows or other sacrifices of resources arising from:

a. Past exchange transactions.

b. Government-related events.

c. Government-acknowledged events.

d. Non-exchange transactions that, pursuant to applicable law and current policy, are unpaid amounts due as of the reporting date.

1.1.2 This NPR includes cross references to relevant portions of other NPRs that currently address accounting for specific types of liabilities.

1.1.3 NASA shall follow the requirements of SFFAS No. 39 with respect to reporting information regarding events that occur subsequent to the reporting period but before the financial report is issued.

1.2 Agency Requirements

1.2.1 Accounting for NASA liabilities will be conducted in accordance with Department of Treasury policies and procedures and applicable Statements of Federal Accounting Standards and Statements of Federal Financial Accounting Concepts.

1.3 Roles and Responsibilities

1.3.1 Agency Chief Financial Officer (CFO). Agency CFO shall be responsible for complete and accurate reporting of liabilities and ensuring compliance with U.S. Government requirements.

1.3.2 Director, Financial Management Division (FMD), Agency OCFO. Director, FMD, Agency OCFO shall prepare and submit to the Agency CFO reports on liabilities in accordance with U.S. Government requirements.

1.3.3 NASA Shared Services Center (NSSC) and NASA Centers. NSSC and NASA Centers shall record liabilities transactions in accordance with U.S. Government requirements.

1.4 Availability of Funds

1.4.1 In all cases, recognition of a liability will not be based on the possible future availability of funds, because there can be no guarantee that funds will be appropriated in the future. All liabilities meeting the requirements described in this NPR will be properly recorded in the system of record and reported to all concerned parties as set out in this NPR, whether the liability is funded or unfunded.



| TOC | Preface | Change History | Chapter1 | Chapter2 | Chapter3 | Chapter4 | Chapter5 | Chapter6 | Chapter7 | Chapter8 | Chapter9 | AppendixA | AppendixB | AppendixC | ALL |
 
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This document does not bind the public, except as authorized by law or as incorporated into a contract. This document is uncontrolled when printed. Check the NASA Online Directives Information System (NODIS) Library to verify that this is the correct version before use: https://nodis3.gsfc.nasa.gov.