Exam (elaborations)
GFEBS Business Process Areas Questions with correct Answers 2023
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GFEBS Business Process Areas
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GFEBS Business Process AreasFunds Management - answer Within GFEBS, the Funds Management (FM) business
processing function performs the budgeting and funds control for General Fund
appropriations received by the Army.
The major purposes of Funds Management include:
•Distributing, allocating and executing funds
•Ensuring that funds are not over-committed
•Allowing the Army to perform strategic planning
FM integrates primarily with the Financials (FI), Reimbursables (RM), and Spending
Chain (SC) business process areas.
Reimbursables - answer Reimbursable Order Processing and Debt Management are
the two primary sub-processes that encompass the Reimbursables (RM) business
process.
Spending Chain - answer Spending Chain includes the most widely-used GFEBS
transactions, those related to purchase requisitions and purchase orders.
This includes:
- Accounts Payable
- Acquisitions
- Vendor Master Data
- Material Master Data
Financials - answer Now, let's look at the Financials (FI) business process area.
In GFEBS, Financials relies on the execution of five key sub- processes (shown below)
to gather the financial data that accurately reflects and conveys the current financial
state of the Army.
•Manage General Ledger Accounts
•Process Journal Vouchers
•Perform Cash Balancing
•Perform Period-End Close
•Perform Year-End Close
How does the Army use GFEBS to report financial status to the DoD and Treasury? -
answer First, GFEBS is the financial book of record for the Army's General Fund.
Each period-end, the Army uses GFEBS to generate standardized financial reports. The
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