BBNC Code of Ethics Code of Ethics_Light_final_joomag 2 | Page 18

FINANCIAL RECORDS TIME CHARGING & RECORDING COSTS
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. Employees
must record financial information
accurately, completely, and timely
in accordance with Generally
Accepted Accounting Principles
(GAAP) and applicable corporate
policies and procedures. Charge costs appropriately. BBNC
expects that all charges will be fairly
assigned to the benefiting contract or
job order. Costs, which are not directly
associated with a contract or job
order, such as general administrative
expense, should be charged to
appropriate overhead accounts.
Your Responsibilities
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 internal
control procedures.
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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
BBNC Code of Ethics | Ethics Hotline: [phone] | Effective May 17, 2019 | www.bbnc.net
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.
Your Responsibilities
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.
Submit, in a timely manner, the
actual number of hours you have
worked in accordance with the
actual number of hours you worked
or 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.