CPPS - STUDY GUIDE (ACTUAL 2025/2026)
NEWLY UPDATED WITH MULTIPLE, VERIFIED
CORRECTLY ANSWERED QUESTIONS GRADED
A
- Maximize return of Investment
- Facilitate Compliance
- Maximize reutilization
- Depreciation expense
Benefits of an Effective Property Function
Other names of Property Accounting
- Fixed asset accounting
- Inventory Control
- Material/Property Control
Working with the Property Manager, publishes policy as it
relates to financial records of an organization
Controller's Office
,Identifies the need for property
Program/Project Manager
Property Management Office (PMO)
Has the responsibility and role of ensuring and effective
property control system is established/maintained while
ensuring all property is controlled and managed IAW sound
business practices
In charge of property within unit or department consolidating
property activity while informing the PMO via transaction
recorded in the property database
Departmental Property Administrator
Responsible for the assets within a group who instructs users
of their role and responsibilities while property is in the care,
custody, and control of end user
Property Custodian
,Assigned the task of reporting receipt, identification,
movement, disposal, maintenance, and other events/creates
system transaction or verbal communication
Asset/End Users
Eyes and ears of the Property Manager
Asset/End Users
Responsible for verifying the existence of property,
confirming serial numbers, property location, condition,
excess equipment. Also reconciles inventory data to property
records while adjusting records to accommodate
discrepancies.
Physical Inventory Group
When are property records modified?
Throughout the entire lifecycle of a particular item/assett
What are the necessary elements to create a property record
- Asset identification
, - Asset description
- Manufacturer
- Serial Number
- Model Number
- Asset location
- Assignment of responsibility of asset
- Asset acquisition cost/date
- Acquisition method and reference i.e purchase order,
donation, etc..
- Date of receipt
What two documents are associated with the Procurement
Phase?
1. Purchase Requisition
2. Purchase Order
What are the data elements of Purchase Requisition?
- Description
- Model number
- Estimated useful life
- Asset Classification Code(s)
NEWLY UPDATED WITH MULTIPLE, VERIFIED
CORRECTLY ANSWERED QUESTIONS GRADED
A
- Maximize return of Investment
- Facilitate Compliance
- Maximize reutilization
- Depreciation expense
Benefits of an Effective Property Function
Other names of Property Accounting
- Fixed asset accounting
- Inventory Control
- Material/Property Control
Working with the Property Manager, publishes policy as it
relates to financial records of an organization
Controller's Office
,Identifies the need for property
Program/Project Manager
Property Management Office (PMO)
Has the responsibility and role of ensuring and effective
property control system is established/maintained while
ensuring all property is controlled and managed IAW sound
business practices
In charge of property within unit or department consolidating
property activity while informing the PMO via transaction
recorded in the property database
Departmental Property Administrator
Responsible for the assets within a group who instructs users
of their role and responsibilities while property is in the care,
custody, and control of end user
Property Custodian
,Assigned the task of reporting receipt, identification,
movement, disposal, maintenance, and other events/creates
system transaction or verbal communication
Asset/End Users
Eyes and ears of the Property Manager
Asset/End Users
Responsible for verifying the existence of property,
confirming serial numbers, property location, condition,
excess equipment. Also reconciles inventory data to property
records while adjusting records to accommodate
discrepancies.
Physical Inventory Group
When are property records modified?
Throughout the entire lifecycle of a particular item/assett
What are the necessary elements to create a property record
- Asset identification
, - Asset description
- Manufacturer
- Serial Number
- Model Number
- Asset location
- Assignment of responsibility of asset
- Asset acquisition cost/date
- Acquisition method and reference i.e purchase order,
donation, etc..
- Date of receipt
What two documents are associated with the Procurement
Phase?
1. Purchase Requisition
2. Purchase Order
What are the data elements of Purchase Requisition?
- Description
- Model number
- Estimated useful life
- Asset Classification Code(s)
