FINANCIAL RECORDS TIME CHARGING & RECORDING COSTS
Employees must record financial information accurately , completely , and timely in accordance with Generally Accepted Accounting Principles ( GAAP ) and applicable company policies and procedures . A variety of laws and policies require BBNC to record , preserve , and report financial information to our auditors , financial institutions , and government customers and agencies .
Make only accurate and true entries in company books and records . Laws prohibit misleading entries that intentionally conceal or disguise the true nature of any transaction .
Financial information must be kept confidential and only released with proper authorization .
Only make or approve payments with adequate supporting information or for the purpose described in the supporting documentation .
If you participate in the preparation of financial reports , know and follow company finance policies and procedures .
Costs , which are not directly associated with a contract or job order , such as general administrative expense , should be charged to appropriate overhead accounts .
Intentionally mischarging time and other costs can be a criminal offense . Examples of mischarging include :
Charging labor , materials or equipment costs to a contract where the labor , materials or equipment were not performed or used .
Not properly recording “ unallowable ” costs .
Charging overhead expenses to a direct charge account .
Charging costs to a government contract when the contract provisions do not permit them .
Inaccurately recording time “ on the clock ” when you are not actually working .
We charge our customers for work based on the information supplied by the time-charging and cost-recording systems . Our customers scrutinize this information because if it is wrong , they are charged incorrectly . The improper charging of labor or equipment costs to a government or commercial contract may result in serious criminal and civil penalties to BBNC .
Always charge time and materials to the proper job cost codes . Time that is not identified with a specific contract should be charged to an overhead account .
Be accurate . Do NOT make cost / time allocations decisions based on the status of the budget .
Timely submit accurate records of your time by recording the actual number of hours you worked and were absent from your job .
Do it right the first time . Do NOT charge time or material to an improper cost code with intentions of correcting it later . Check with your supervisor if in doubt about a charge . Management is responsible for ensuring that labor and material charges used by employees under their supervision represent the appropriate charge .
BBNC Code of Ethics | Ethics Hotline : 1.866.513.7078 | August 5 , 2022 | info . bbnc . net 27