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Exam (elaborations)

GFEBS Exam Study Guide with Complete Solutions

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  • GFEBS
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  • GFEBS

GFEBS Exam Study Guide with Complete Solutions Objectives for GFEBS Implementation - Correct Answer️️ -1. Enable the automation and integration of the majority of the Army's business processes. 2. Use of common data and business practices across the Army and throughout DoD by using the Sta...

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  • September 25, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • GFEBS
  • GFEBS
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EmillyCharlotte
TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS
RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

GFEBS Exam Study Guide with
Complete Solutions


Objectives for GFEBS Implementation - Correct Answer✔️✔️-1. Enable the automation

and integration of the majority of the Army's business processes.




2. Use of common data and business practices across the Army and throughout DoD by

using the Standard Financial Information Structure (SFIS) to standardize data.




3. Enable users to produce and access information in a real-time environment.

systems replaced - Correct Answer✔️✔️-two major systems replaced were the Standard

Finance System (STANFINS) and the Standard Operation and Maintenance Army

Research and Development System (SOMARDS).

L. 3 - SDRN - Correct Answer✔️✔️-Standard document reference number

SFIS - Correct Answer✔️✔️-Standard Financial Information Structure (SFIS




1/7

, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS
RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
sfis PLUS gfebs ALLOWS - Correct Answer✔️✔️-The use of SFIS within GFEBS

facilitates end-to-end connection of key business activities and provides:




•a means to record and track auditable financial information



•a basis for conducting sound financial analysis



•timely and reliable executive decision support

Funds Management - Correct Answer✔️✔️-Includes budget authority, fund allocation,

maintaining funds availability, performing funds analysis, budgetary accounting, and

generating reports

Cost Management - Correct Answer✔️✔️-Includes capturing cost accounting data,

performing cost assignment, cost accumulation, revenue accumulation, cost monitoring,

and generating reports.

Financials - Correct Answer✔️✔️-Includes maintaining the chart of accounts and

transaction posting rules, recording Journal Voucher entries, posting transactions to the

General Ledger and performing period end closing.




2/7

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