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52 Cards in this Set
- Front
- Back
What is an account of how much money has been spent, how much is obligated and how much is available under each appropriation or subdivision?
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Appropriation Accounting
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What is an account through with the Navy can accumulate all costs according to activity or unit, purpose and type of expenditure?
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Cost Accounting
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What is an account used to maintain records of material and supplies on hand?
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Inventory (Stores) Accounting
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What is an account used to maintain records of all Navy owned or Navy controlled real property and equipment of a capital nature ashore?
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Plant Property Accounting
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What is an account used to maintain records of payments to civilian and military personnel of the Navy?
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Payroll Accounting
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The Navy expends money from one of what two major classifications?
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Appropriations or Funds
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What is an authorization by an ACt of Congress to incur obligations for a specifies time and purpose and to make payments out of the Treasury?
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Appropriation
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The accounting period of the Navy is the what?
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Fiscal year
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How many types of appropriations may be used in the Navy, depending upon the purpose for which they are issued?
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Three
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What generally cover the current operating and maintenance expenses of the Navy?
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Annual appropriations
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What occurs when an order is placed by an afloat unit or material is issued to an ashore activity or similar transactions during a given period that requires future payments?
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Obligation
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What is an appropriation that is available for incurring obligations during the current fiscal year?
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Current appropriation
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What is an appropriation that is no longer available for incurring obligations?
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Expired appropriation
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What is the undisbursed balance of an appropriation and is no longer available for disbursement by the department?
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Lapsed appropriation
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What consists of a seven digit number identifying the goverment agency responsible for administering the appropriation, the fiscal year and the specific appropriation?
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Appropriation symbol
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Who has fiscal responsibility for the appropriation 1751804 for operation and maintenance of Navy foces?
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CNO
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What is the UIC of the activity that performs the accounting for an operating budget/fund?
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Authorization Accounting Activity (AAA)
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All UIC's currently assigned are listed in what?
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NAVCOMPT Manual Vol 2
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The cost code consists of how many characters and may be alphabetic, numeric or both?
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12
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Funds fill a very important need in financing the day to day operations of the Navy. What are two extensively used types of funds?
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Revolving and trust
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What is a fund established to finance a cycle of operations?
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Revolving fund
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What is the one fund that you will be most concerned with?
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Navy Working Capital Fund (NWCF)
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The total value of the NWCF is reviewed how often by Congress and adjusted to meet current requirements?
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Annually
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What is an inventory account and an integral part of the NWCF serving as a holding account for NWCF procured supplies before their sale?
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Navy Stock Account (NSA)
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What is a revolving fund used to finance industrial commercial type activities?
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Navy Industrial Fund
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What provides a single permanent revolving fund for financing all work not chargeable to current naval appropriation?
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Naval Working Fund
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What fund is used for the economical and efficient completion of Navy operations which are financed by two or more appropriations?
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Navy Management Fund
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What is a fund held in trust by the Navy for use as specified in a special agreement or Act of Congress?
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Trust Fund
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What is a series of systems designed to promote better management procedures throughout the Department of Defense (DoD) by providing mangers with improved methods of obtaining and controlling resources required to accomplish the assigned missions?
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Resource Management Systems (RMS)
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What is the method used where operating costs are accounted for in the fiscal (accounting) period during which the costs of resources consume or applied are received?
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Accrual Accounting
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What are codes established by DoD to classify expenses for cost accounting and reporting purposes?
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Expense element codes
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What is the financial authority issued by a major claimant or subclaimant to an intermediate level of command?
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Expense limitation
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What is an authorization of funds subject to administrative control issued to a level below the responsibility center?
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Operating Target (OPTAR)
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What is an administrative money ceiling established by the fleet commander?
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Threshold
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What for accounting purposes is a general term used to describe a request document for material or services that has been entered in the OPTAR log?
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Unfilled order
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What is a unit of measurement such as documents processed, tonnage, moved, students trained or gallons processed?
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Work unit
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How many interrelated subsystems make up the RMS to meet the objectives of the DoD?
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Four
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What in DoD is concerned with developing long and midrange strategy and operational concepts, objectives and requirements based on continuously projected appraisals of the world situation and on technological and intelligence forecasts?
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Planning
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What is concerned with setting specific 5 year defense goals and the schedule for achieving them, grouping functions and activities sharing the ame objectives into major programs and estimating resource requirements for each?
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Programming
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What is the function of formulating 1 year projections of resource requirements for programs, balancing priorities in the competition for limited resources and obtaining associated funds?
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Budgeting
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What is the function of measuring the results of performance (progress and status of programs) usually in financial terms both for functional areas and organizational units?
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Accounting
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What is concerned with transmitting financial and nonfinancial information on the status and progress of programs to appropriate management levels?
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Reporting
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What is the function of reviewing the accuracy of recorded and reported results and judging both the adequecy of established policies and procedures and the activity's compliance with them?
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Auditing
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For accountability, material procured with Navy Stock Account (NSA) money is classified as NSA material and activities that stock this material are called what?
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NSA activities
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It is a policy of whom that the accounting effort performed by Navy Operating Forces is kept to the absolute minimum?
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Secretary of the Navy
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What performs the official accounting and reporting for OPTAR's issued by the TYCOM?
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Defense Finance Accounting Service (DFAS)
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What term is defined as an estimate of the amount of money that will be required by an operating ship, staff, squadron or other unit to perform assigned tasks and functions?
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Operating Target
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Each year Congress enacts what appropriation that authorizes the Navy to buy needed material and services?
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O&MN
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Each activity establishes what to record OPTAR grants and the value of transactions authorized to be incurred as chargeable to the TYCOM operating budget?
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Requisition/OPTAR Log, NAVCOMPT Form 2155
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What are established by fiscal year for each OPTAR received to hold the appropriate accounting docments and listings pending transmittal to the DFAS?
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OPTAR holding files
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What is forwarded monthly by the DFAS to individual OPTAR holders for each OPTAR held and is a report of all filled orders with a difference of $100 or more?
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Summary Filled Order/Expenditure Difference Listing (SFOEDL)
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An Unmatched Expenditure Listen (original and one copy) is forwarded how often, when applicable by the DFAS tot he individual OPTAR holders?
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Quarterly
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