Vol 5 - Financial Management Flashcards
Which stage of the PPBE begins when the president signs the Appropriations Bill?
Execution
______ is responsible for aligning a new NexGen Work Group to a Shop Rate.
CE FM
The FIAR methodology defines the ______, underlying detailed activities and resulting work products that all reporting entities should follow to become audit ready.
key tasks
Sustainment maintenance is a category of Sustainment Activities, which of the following is part of sustainment maintenance?
Work to maintain the inventory of real property assets through its expected service life
By performing these test procedures in advance of a financial statement audit, reporting entities can identify gaps in controls and documentation that require the implementation of corrective actions ______ the audit.
prior to
Which stage of the PPBE is a period when planning decisions, programming guidance, and congressional guidance are converted into a detailed allocation of resources?
Programming
All of the following are valuation challenges that must be addressed in coordination with leading OSD offices except?
Gathering Personal Data
While progress has been made, time is of the essence; therefore, the Strategy has been updated and re-aligned to stress the urgency necessary to achieve full financial statement audits within the ______.
congressionally-mandated timeframe
Which type of work classification includes scheduled repair activities to maintain the inventory of real property assets enabling them to reach their expected service life?
Sustainment Repair
______ ensures programs are properly and reasonably priced.
Program and Budget Review
From the following Accounting Classification code select the part of the code that contains the appropriation code.
5703400 300 7815 111300 01 50641 667100 18551F AA
3400
Which part of the budget cycle is where funds are allocated, obligated, and expended to accomplish DoD’s plan?
Execution
All ______ cost centers need to have a corresponding reimbursable cost center, so that when that Work Group performs work, the appropriate reimbursable cost center can be generated on the Reimbursable Report.
Actual Time Accounting (ATA)
From the following Accounting Classification code select the part of the code that contains the program element code.
5703840 300 7815 111300 01 50641 667100 18551F AA
18551F
Which part of the budget cycle produces a budget resolution?
Review and Enactment
Which stage of the PPBE produces the Defense Planning and Programming Guidance (DPPG)?
Planning
The Air Force Element of Expense/Investment Code (EEIC) is a three- or five-character code consisting of ______ segments.
2
Sustainment repair is a category of Sustainment Activities, which of the following is part of Sustainment repair?
Major repairs or replacement of facility components that are expected to occur periodically throughout the life cycle of facilities
Which type of work classification includes work to maintain the inventory of real property assets through its expected service life?
Sustainment Maintenance
Which part of the budget cycle is an act of Congress that authorizes agencies to incur obligations against the Treasury?
Appropriation Bill
Which type of work classification includes alteration of facilities or components solely to implement new or higher standards?
Modernization Repair
Which part of the budget cycle gives the government the authority to pursue particular programs?
Authorization Bill
Which stage of accounting is when a need is realized?
Requirements Identified
Which type of work classification includes repair and replacement work to restore facilities collaterally damaged due to inadequately sustained components, natural disaster, fire, accident or other causes?
Restoration Repair
Which stage of the PPBE is when programs identified in the POM are reviewed?
Budgeting
FIAR compliance supported by an accurate ______ for capitalization is a critical action for CEOER to accomplish.
DD1354
Which stage of accounting is a legal liability incurred by the government?
Obligation
Which stage of accounting is an actual payment of funds?
Expenditure
Which part of the budget cycle acts as a blueprint for the appropriation process?
Budget resolution
Facilities Sustainment (xxx78F) provides resources for maintenance and repair activities necessary to keep facilities in the Departments real property inventory in good working order and includes all of the following except?
Modernization
______ Is a parametric model that estimates the amount of sustainment funding necessary to adequately sustain infrastructure of various types.
Facility Sustainment Model (FSM)
Once it is determined that there has been a violation of 31 U.S.C. §§ 1341(a), 1342, or 1517(a), the agency head “shall report ______ to the President and Congress all relevant facts and a statement of actions taken.
immediately
Financial Improvement and Audit Readiness (FIAR) success will be demonstrated through a financial statement audit performed by ______, resulting in an unmodified audit opinion on the Department’s financial statements.
independent auditors
Which type of work classification includes work associated with functional conversion and work classified as UMC?
Modernization/Minor Construction
An unlawful obligation and expenditure of appropriated funds can result in a violation of the ______.
Anti-Deficiency Act
Which part of the budget cycles primary focus is on the current budget year?
Formulation
Which stage of accounting is administrative reservation of funds/intent to spend?
Commitment
