Title 2--UEA Discontinued Operations

Gao ID: AIMD-94-108R April 28, 1994

GAO reviewed the Department of Energy's Uranium Enrichment Activity's (UEA) reporting of property and equipment losses from discontinued operations. GAO noted that: (1) UEA complied with mandated accounting and financial reporting requirements in its June 1993 financial statements; and (2) the net book value of the property and equipment estimated at about $501 million should be recognized as a loss, since these assets no longer benefit UEA and UEA is unlikely to recover any portion of the cost of the property.



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