Exam (elaborations)
Financial Management – 0301 questions with answers.
- Course
- Institution
Financial Management – 0301 questions with answers.
[Show more]
Seller
Follow
Content preview
Financial Management – 0301 questionswith answers.
(ELO 3) Purpose of Financial Management ANS -Properly execute the legal and admin responsibilities of
funds
(ELO 4) Identify the agency within the Department of Defense (DoD) responsible for finance and
accounting policies, procedures, standards, systems and operations ANS -Defense Finance and
Accounting Service (DFAS)
- Official accounting firm for the DoD
- Processes payments, runs payment cycles, corrects system problems, assists MC Commands with
financial problems/issues
- Compiles, processes and maintains official accounting records and reports for the USMC
(ELO 9) With the aid of reference, identify the types of documentation required to perform financial
management functions for a command. ANS -It is critical that documented appointments and
delegations of authority are established for individual performing functions with financial implications.
Requires:
- Appointment Letters
- DD-577 Appointment/Termination Record - Authorized signatures
- NAVMC 11869 Notice of Delegation of Authority
Appointment Letter ANS -Will be signed by the CO/Accountable Officer and will be retained for 10 years
(3 active, 7 archived)
Outlines all responsibilities of the appointed individual
, DD 577 ANS -Appointment/Termination Record - Authorized Signature
NAVMC 11869 ANS -Delegation of Authority
Will identify specific individuals that have been delegated authority for the following duties:
- Sign and receipt for government property and services for use within the department or section
- Turn in excess or damaged government property
- Submit purchase requests for supplies and/or services
- Sign and authorize the use of Urgency of Need Designator "A" (i.e. priorites 01, 02, 03)
(ELO 10) With the aid of references, identify the appointing authority for financial management roles
and responsibilities within a command. ANS -CO
(ELO 8) With the aid of references, given a list of financial management roles, select the responsibilities
associated with the financial management role. ANS -Comptroller
Commanding Officer
Fiscal/Budget and Accounting Officer (SupO)
Supply Resource manager, Certifying Officer (SupO)
Supply AIS Administrator
Fiscal clerk
Requisition Clerk
GCPC Card Holder
Unit Travel Card Holder
Comptroller Roles and Responsibilities ANS -Comptroller office or G-8 section at MSC level or higher:
- Provides guidance and direction concerning financial matters to CG
- Maintains budget plans and program schedules for MSC
- Formulates budgets and review execution for prior, current, and future Fiscal Years (FY)
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 $10.99. 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