Exam (elaborations)
FINANCIAL MANAGEMENT AND COMPTROLLER JOURNEYMAN QUESTIONS WITH ANSWERS.
- Course
- Institution
FINANCIAL MANAGEMENT AND COMPTROLLER JOURNEYMAN QUESTIONS WITH ANSWERS.
[Show more]
Seller
Follow
Content preview
FINANCIAL MANAGEMENT ANDCOMPTROLLER JOURNEYMAN
QUESTIONS WITH ANSWERS.
WHAT IS THE MAJOR DIFFERERENCE BETWEEN THE RESPONSIBILITIES OF THE FINANCIAL MANAGEMENT
ANALYSIS AND DFAS? ANS - FMA HANDLES THE ACCOUNTING PROCESSES AT BASE LEVEL AND SERVES
AS A LIAISON BETWEEN THE BASE ORGANIZATION AND DFAS
OVERALL RESPONSIBILITY FOR OBLIGATION ACCOUNTING IS MANAGED BY ANS - FINANCE AND
ACCOUNTING
ALL ACCOUNTING CLASSIFICATIONS MUST CONTAIN AT LEAST THE ACCOUNTING AND DISBURSING
STATION NUMBER (ADSN) AND THE ANS - APPROPRIATION SYMBOL
WHICH STEP IN DETERMINING THE ELEMENTS OF THE ACCOUNTING CLASSIFICATION TELLS YOU TO
ENSURE THE ACCOUNTING STATION NUMBER IS NOTED? ANS - STEP 5
WHICH FUNDS ARE ESTABLISHED TO RECORD COLLECTIONS FOR NO YEAR AND CLEARING ACCOUNTS?
ANS - DEPOSIT
WHICH CODE IDENTIFIES "WHAT" IS BEING PURCHASED? ANS - EEIC
WHAT CODE IS THE FIRST SUBDIVISION OF THE ACCOUNTING CLASSIFICATION BELOW THE
APPROPRIATION LEVEL AND ALWAYS STARTS WITH THE LETTER "P"? ANS - BUDGET PROGRAM
THE DISBUREMENT ACCOUNTING PROCESS BEGINS WHEN ANS - SERVICE IS REQUESTED
WHEN A REQUIREMENT IS KNOWN, BUT A FIRM PRICE IS NOT, AN ADMINISTRATIVE RESERVATION OF
FUNDS IS PROCESSED AND IS ALSO KNOWN AS ANS - A COMMITMENT STAGE
WHICH STAGE OF ACCOUNTING LIQUIDATES THE OBLIGATION? ANS - AEP
, AFTER RECEIVING UTILITIES ESTIMATES FROM CIVIL ENGINEERING (CE), DFAS ENTERS THE NOTE INTO
ANS - GENERAL ACCOUNTING AND FINANCE SYSTEMS (GAFS) AS UNFILLED CUSTOMER ORDERS (UFCO).
WHAT IS THE FIRST STEP IN IDENTIFYING THE STAGES OF ACCOUNTING? ANS - DETERMINE THE TYPE
OF ACCOUNTING YOU ARE WORKING WITH.
WHEN IDENTIFYING THE STAGE OF ACCOUNTING FOR OBLIGATIONS, WHICH STEP DIRECTS YOU TO
ENSURE THAT FUNDS ARE AT THE PROPER DISBURSEMENT STAGE? ANS - STEP 2
THE GENERAL ACCOUNTING AND FINANCE SYSTEM (GAFS) USES INTERNAL FILES TO TRACK FUNDS AND
STORES THEM ON A MAGNETIC DISK, THIS STORAGE IS ALSO CALLED ANS - IMMEDIATE ACCESS
STORAGE
WHICH RECORD IS NOT ESTABLISHED AT THE BEGINNING OF THE FISCAL YEAR? ANS - DOCUMENT
SUMMARY RECORD (DSR)
EACH COMBINATION OF ELEMENT OF EXPENSE /INVESTMENT CODE (EEIC) AND RESPONSIBILITY
CENTER/COST CENTER (RC/CC) CODES REQUIRES A SEPERATE ANS - (PSR) PROGRAM SUMMARY
RECORD
WHICH SYSTEM WAS DESIGNED TO AUTOMATE THE ACCOUNTS PAYABLE PROCESS? ANS - INTEGRATED
ACCOUNTS PAYABLE SYSTEM (IAPS)
WHAT IS THE LINK BETWEEN THE INTIGRATED ACCOUNTS PAYABLE SYSTEM (IAPS) AND THE GENERAL
ACCOUNTING AND FINANCE SYSTEM (GAFS)? ANS - ICI
WHAT SYSTEM IS USED TO APPROVE UPWARD ADJUSTMENTS TO EXPIRED AND CANCELLED
APPROPRIATIONS? ANS - OBLIGATION ADJUSTMENT REPORTING SYSTEM (OARS)
WHAT IS THE NEXT STEP AFTER AN AUTOMATED BUSINESS SERVICES SYSTEM (ABSS) USER SELECTS THE
FORM TYPE? ANS - ADD THE ADMINISTRATIVE DATA
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Professorkaylee. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now