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FM Comptroller Course > 1f > Flashcards

1f Flashcards

1
Q

comprehensive data structure that supports requirements for budgeting, financial accounting, interoperability and external reporting needs for the DoD; common business language that standardizes financial reporting across the DoD

A

Standard Financial Information Structure (SFIS)

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2
Q

set of codes used to classify and record financial transactions

A

Accounting Flex Fields

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3
Q

department regular; identifies specific branches of DoD that funds belong to

A

Agency Code

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4
Q

tells us what type of funds are being used

A

Appropriation Symbol

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5
Q

identifies the fiscal year(s) in which the funds are available for obligation

A

Period of Availability (POA)

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6
Q

tells the user if funds are being used for reimbursable or direct citations

A

Reimbursable Flag Indicator

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7
Q

“who” - broken into three parts: DoD branch, OAC (MAJCOM using the funds), and OBAN (document #)

A

Operating Entity

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8
Q

“who” - identifies specific unit responsible for funds

A

Responsibility Center / Cost Center

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9
Q

“what” - identifies what we are purchasing

A

Object Classification / Sub Classification

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10
Q

“why” - comprised of three factors: Budget Activity, Activity Group, and Sub Activity Group

A

Budget Line Item

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11
Q

a description of a mission by the identification of the organizational entities/resources needed to perform the mission

A

Program Element Code (PEC)

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12
Q

four digit field that represents the fiscal year or period of availability

A

Fiscal Year

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13
Q

comprised of Accounting Disbursing Station Number (ADSN); used to identify station responsible for the official accounting and reporting of funds

A

Agency Activity Identifier

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14
Q

provides separate accounting and reporting for costs incurred during an emergency or in support of a special program

A

Emergency and Special Programs (ESP) Code

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15
Q

the process of recording transactions pertaining to the purchase of goods and services made by the Air Force

A

Disbursement Accounting

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16
Q

the process of recording transactions pertaining to the sale of goods and services from the Air Force to authorized customers

A

Reimbursement Accounting

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17
Q

4 Stages of Disbursement Accounting

A

commitment
undelivered orders outstanding (UOO)
accrued expenditures unpaid (AEU)
accrued expenditures paid (AEP)

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18
Q

4 Stages of Reimbursement Accounting

A

unfilled customer orders (UFCO)
unfilled customer orders collected (UFCOC)
filled customer orders (FCO)
collections (COL)

19
Q

two types of reimbursement customers

A

IPAC - Intragovernmental Payment and Collections

Public/Advance Payment

20
Q

this is also known as the “accounts payable” stage

A

Accrued Expenditures Unpaid (AEU)

21
Q

an administrative reservation of funds

A

commitment

22
Q

commitment document that is prepared/completed by the requesting organization asking to purchase goods/services, then forwarded to FMA for approval

A

purchase requisition

23
Q

a legally binding agreement between government and individual/contractor/vendor

A

obligation

24
Q

represents orders, contracts or agreements and constitutes a legal obligation

A

undelivered orders outstanding (UOO)

25
Q

represents when goods/services are received per contract but payment has not been made

A

accrued expenditures unpaid (AEU)

26
Q

represents when payment is made to the contractor/vendor by DFAS

A

accrued expenditures paid (AEP)

27
Q

prepared at the base-level and sent to DFAS for actual disbursement of funds to the contractor/vendor

A

payment voucher

28
Q

AF receives an order from a customer, but the customer has not yet received the goods or service they ordered

A

unfilled customer orders (UFCO)

29
Q

AF has collected payment but has not provided goods/services

A

unfilled customer orders collected

30
Q

prepared by the unit providing the goods/services; signed by a budget officer to be sent to the customer

A

advance payment letter

31
Q

funds are moved to this stage when a billing event is processed by the base in the accounting system

A

filled customer orders (FCO)

32
Q

DFAS receives billing event from the base to process collection; once the base gets a voucher from DFAS, funds are processed

A

collections (COL) - IPAC

33
Q

Standard Form 1080 (SF1080) used to process payment

A

collections (COL) - public

34
Q

what is a performing activity?

A

the base section that sends a bill to DFAS to process collection

35
Q

one of the most important steps in processing source documents in FM

A

certification of funds

36
Q

original record of a financial transaction

A

source document

37
Q

who shares pecuniary liability for the amount certified?

A

the certifying officer and the comptroller

38
Q

what is the role of the Certifying Officer?

A
  • review the document
  • check the accounting classification for accuracy
  • verify funds available
  • enter any other applicable info into the accounting system
  • electronically certify correctness of statements, facts, accounts, and amounts appearing on a voucher or other document
39
Q

what are the three items Certifying Officers must pay attention to during fund certification?

A

1 - review the document and accounting classification for completeness and accuracy
2 - determine if funds are available
3 - certify fund availability

40
Q

what do Certifying Officers use to certify fund availability?

A

the Defense Enterprise Accounting Management System (DEAMS)

41
Q

what type of report is used by Certifying Officers to determine if funds are available?

A

Status of Funds (SoF) report

42
Q

in what scenario does the Certifying Officer have the option to change the accounting structure selected by the requesting organization?

A

if the accounting structure they select is incorrect

43
Q

who selects the Certifying Officer?

A

comptroller

FM Comptroller Course (1 decks)

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