DD Form 3042 Accountable Property System of Records (Apsr) Equipment Requirements Checklist

DD Form 3042 - also known as the "Accountable Property System Of Records (apsr) Equipment Requirements Checklist" - is a United States Military form issued by the Department of Defense.

The form - often incorrectly referred to as the DA form 3042 - was last revised on June 1, 2017. Download an up-to-date fillable PDF version of the DD 3042 below or request a copy through the chain of command.

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ACCOUNTABLE PROPERTY SYSTEM OF RECORDS (APSR)
EQUIPMENT REQUIREMENTS CHECKLIST
INSTRUCTIONS
For each item below, identify whether the capability exists within the target system (identified at "Target System Name"). If the capability
exists, check the "yes" column and write in the "comments" block how the system accomplishes the action. If not, check the "no" column
and write if there is an alternate method (e.g., secondary system, manual entry) that accomplishes the action or if plans exist to modify the
target system.
TARGET SYSTEM NAME
SECTION I - CORE REQUIREMENTS
APSR CHECKLIST ITEM
YES
NO
COMMENTS
1. Does the property system maintain an individual
subsidiary account for CIP, with ledgers for each
construction project to facilitate the transfer of
associated costs to the applicable property or
expense account?
2. Does the system capture the useful life of the
asset in years?
3. Does the system record the acceptance date of
new items to support the acceptance process?
4. Does the system accumulate depreciation
expense in a contra asset account --
accumulated depreciation?
5. Does the system record accumulated
depreciation based on the full cost and the
number of years the PP&E has been in use
relative to its estimated useful life?
6. Does the system capture the acquisition cost, full
cost, and any changes in the valuation?
7. Does the system in the period of disposal,
retirement, or removal from service, remove the
asset from the asset accounts along with
associated accumulated depreciation?
8. Does the system capture the type of disposal for
all property?
DD FORM 3042, JUN 2017
Page 1 of 3 Pages
Adobe Designer 11
ACCOUNTABLE PROPERTY SYSTEM OF RECORDS (APSR)
EQUIPMENT REQUIREMENTS CHECKLIST
INSTRUCTIONS
For each item below, identify whether the capability exists within the target system (identified at "Target System Name"). If the capability
exists, check the "yes" column and write in the "comments" block how the system accomplishes the action. If not, check the "no" column
and write if there is an alternate method (e.g., secondary system, manual entry) that accomplishes the action or if plans exist to modify the
target system.
TARGET SYSTEM NAME
SECTION I - CORE REQUIREMENTS
APSR CHECKLIST ITEM
YES
NO
COMMENTS
1. Does the property system maintain an individual
subsidiary account for CIP, with ledgers for each
construction project to facilitate the transfer of
associated costs to the applicable property or
expense account?
2. Does the system capture the useful life of the
asset in years?
3. Does the system record the acceptance date of
new items to support the acceptance process?
4. Does the system accumulate depreciation
expense in a contra asset account --
accumulated depreciation?
5. Does the system record accumulated
depreciation based on the full cost and the
number of years the PP&E has been in use
relative to its estimated useful life?
6. Does the system capture the acquisition cost, full
cost, and any changes in the valuation?
7. Does the system in the period of disposal,
retirement, or removal from service, remove the
asset from the asset accounts along with
associated accumulated depreciation?
8. Does the system capture the type of disposal for
all property?
DD FORM 3042, JUN 2017
Page 1 of 3 Pages
Adobe Designer 11
SECTION I - CORE REQUIREMENTS
(Continued)
APSR CHECKLIST ITEM
YES
NO
COMMENTS
9. Does the system allow an entity to disclose, in
its financial statements, information for each
major asset class of general PP&E?
10. Does the system directly interface with the core
financial system?
11. Does the system establish property records by
formal receipt and acceptance dates?
12. Does the system include sufficient information
indicating the physical quantity, location, and
unit cost of the PP&E:
Name, part number and description, model
number and NSN if known
Owner: both the accountable and custodial
organization
Status
Quantity and unit of measure
Value at full cost (baseline and net book
value)
Estimated useful life
UII
Date placed in service
Location
Current condition
Posting reference
Transaction type
Transaction date
COSIS
GFP Authorizing contract
GFP Recipient point of contact
GFP period of performance
e
Property return dat
13. Does the system provide automated
functionality to query document additions,
modifications and cancellations? Parameters
include:
User ID
Document number
Document type
Change type (add, modify, cancel)
Transaction date range
Accounting period
14. Does the system establish accountability and
maintain it using AIT?
15. Does the system produce life cycle event
transactions to the IUID Registry?
DD FORM 3042, JUN 2017
Page 2 of 3 Pages
SECTION II - ADDITIONAL CAPABILITIES
APSR CHECKLIST ITEM
YES
NO
COMMENTS
1. Does the property management system classify
PP&E according to the Standard General Ledger
Accounts (e.g., buildings, land, equipment,
assets under capital lease, software)?
2. Does the system capture the activity based
useful life?
3. Does the system provide the ability to capture
the following items using automated functionality
Acceptance official
Date products accepted
Quantity/amount accepted
Vendor ID number and name
Ship to locations
Contract Number
Receiving Document (i.e. DD250)
4. Does the system capture the method of
acquiring each property item or bulk property
items (e.g., direct purchase, completed work-in-
process, capital lease, donation, non-reciprocal
transfer or reciprocal transfer), and the date of
acquisition?
5. Does the system record item:
Identification
Classification (e.g., nomenclature, quantity,
description, Federal stock classification or
national stock number)
Initial cost
Associated costs related to acquisition
(i.e. holding/handling cost).
6. Does the system capture an item's current use
status whether in-use, in storage, in-transit, etc?
7. Does the system accept data from DoD
enterprise systems (e.g. Wide Area Workflow)?
8. Does the APSR maintain data access in a way
that supports separation of duties?
PREPARED BY (Signature)
APPROVED BY (Signature)
DD FORM 3042, JUN 2017
Page 3 of 3 Pages

Download DD Form 3042 Accountable Property System of Records (Apsr) Equipment Requirements Checklist

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