Edfm Module 3 Knowledge Check

Front 1

federal appropriations law can be categorized into which three topical areas

Back 1

Purpose
Time
Amount

Front 2

In the DoD, final decisioins of Fiscal law questions are "officially" rendered by whom

Back 2

DoD General Counsel, Courts

Front 3

How many basic types of budget authority are used in the federal government

Back 3

appropriations
contract authority
borrowing authority
monetary credits
offsetting collections and receipts
loan and loan guarantee authority

Front 4

annual appropriations remain available for obligation for how long

Back 4

for new obligations,
one year

Front 5

operations and maintenance (O&M) is an example of what type of appropriation

Back 5

annual appropriation

Front 6

RDT&E is an example of what type of appropriation

Back 6

multi-year appropriation

Front 7

budget authority does not expire in what type of appropriation

Back 7

no-year appropriation

Front 8

Article1, Section 9, of the U.S. Constitution gives the power to appropriation funds for operating the government to which branch of the government

Back 8

Legislative Branch
"Congress"

Front 9

which law extablished the house and senate budget committees and the congressional budget office (CBO)

Back 9

Congressional Budget Act of 1974

Front 10

what are the three tests which must be met for use of the Necessary Expense doctrine

Back 10

Must bear a logical relationship
Not prohibited by law
Not funded elsewhere

Front 11

who are determined to be accountable officers in the department of defense

Back 11

Certifying Officers
Disbursing Officers
Accountable Officials

Front 12

who grants relief of liability to a certifying officer for erroneous or illegal payments in the department of defense

Back 12

DoD General Counsel,
The Defense Finance and Accounting Service

Front 13

What type of budgetary resources remain availble for new obligations for more than one fiscal year

Back 13

mult-year authority

Front 14

what type of budgetary resources remain availble for new obligations until the purpose for which they were provided is carried out

Back 14

No-year authority

Front 15

what type of congressional resolution can be thought of as a temporary appropriations act

Back 15

continuing resolutions

Front 16

what are four major functions in DoD finance

Back 16

Entitlements,
Payments,
Collections,
Control of Public Funds

Front 17

What is the primary organization in DoD with the responsibility for Fiance requirements

Back 17

the defense finance and accounting service
(DFAS)

Front 18

What is the acronym for disbursing office indentification number

Back 18

Disbursing Stations Symbol Number
(DSSN)

Front 19

What three types of officials are accountable individuals

Back 19

Certifying Officers
Disbursing Officers
Accountable Officials

Front 20

Debt collection includes collection of debts from what three groups

Back 20

Current employees and Military Members
Former Employees and military Members
Vendors

Front 21

What is a preferred collection method for debts owed by active military members and civilian employees who are still in service

Back 21

salary offset

Front 22

When collecting debts owed by vendors that have failed to properly respond to the demand letters, what is the next step

Back 22

Hold up list

Front 23

when in doubt about the proper use of an appropriation, the DO may request this from the OSD General Counsel on the propriety of the prospective payment

Back 23

an advance decision

Front 24

to what along with accountability, does certification equate

Back 24

liability

Front 25

who besides the disbursing officer is always accountable for any wrong payment or over obligation

Back 25

certifying officer

Front 26

if a civilian employee receives less than 90% of his or her normal biweekly pay and allowances, what may they request

Back 26

special pay

Front 27

when a civilian employee moves from a job overseas to a job in the states, which organizton pays for the Permanent duty travel

Back 27

the losing activity
The OCONUS activity

Front 28

name the supporting documents required in the DoD Payment Package

Back 28

Contract
Invoice
Proof of Receipt
Acceptance Document

Front 29

Name two key forms that provide accountability and control by disbursing officers

Back 29

Standard Form 1219, Statement of Accountability (monthly)
DD Form 2657, Daily Statement of Accountability

Front 30

Which individuals hold personal and pecuniary liability for their actions in financial transactions

Back 30

Certifying Officers,
Disbursing Officers, and
Accountable Officials

Front 31

The budget and accounting act of 1921 established the GAO (Legislative Branch) to audit financial transactions of which branch of the government

Back 31

Executive branch

Front 32

The GPRA Requires agencies to define goals, set performance targets,a nd report what

Back 32

actual performance

Front 33

the federal accounting standards advisory board (FASAB) was set up by what three organizations

Back 33

Government Accountability Office (GAO)
Officer of Management and Budget (OMB)
Department of Treasury

Front 34

Any enforceable agreement between an agency and a business concern for the acquisition of property or services is called what

Back 34

contract

Front 35

what term is used to describe Federal Governement funds that have been paid but have not yet been identified to a specific organization

Back 35

Undistributed Disbursements

Front 36

What term is used in SFFAS#4 to describe the provess of accumulating, measuring, analyzing, interpreting, and reporting cost

Back 36

Managerial Cost Accounting

Front 37

what are the two self balancing sets of accounts in the U.S. government Standard General Ledger (USGSGL)

Back 37

Budgetary and Proprietary

Front 38

In proprietary accounting, assets and liabilities plus what

Back 38

Net Position

Front 39

The aggregate amount of an entitys funds in the treasury is in what account

Back 39

fund balance with Treasury

Front 40

PP&E defines tangible assets with an estimated useful life of more than what number of years

Back 40

Two Years
2

Front 41

What is the Statement of budgetary Resourves equation

Back 41

Budgetary resources = Status of Budgetary resources

Front 42

which financial statement shows the components of the net cost of the reporting entitys operatioin for the period

Back 42

statement of net cost

Front 43

when DoD accounting entity maintains a central general ledger

Back 43

Defense Finance and Accounting
DFAS

Front 44

government audits provide essential elements of public accountability and what

Back 44

control

Front 45

which standards generally apply to all federal government audits

Back 45

GAO Standards or GAGAS

Front 46

who conducts, supervises, monitors and initiates audits and investigations relating to DoD programs and operations

Back 46

Department of Defense Inpsector General (DODIG)

Front 47

Which is the DoD documentthat provides policy for DoD audit and internal review offices to use for conducting audits of DoD operations, systems, program, and functions

Back 47

DoD Internal Audit Manual

Front 48

What does an internal audit organizaton ensure against

Back 48

Waste, Fraud, Mismanagement, and Abuse

Front 49

How many hours of continuing professional education must an auditor complete every 2 years

What is the min number of hours that must be completed in any year of the 2 year period

Back 49

80 hours in 2 years;
20 hours minimum each year

Front 50

When it comes to matters relating to the audit work, what should all organizations be

Back 50

Independent

Front 51

which type of audit is expected to determine whether:
The financial infomation is presented in accordance with established stated criteria;
the entity has adhered to specific financial compliance requirements;
the entity's internal control structure over financial reporting and/or safeguarding of assets is suitably designed and implemented to achieve the control objectives

Back 51

Financial Audit

Front 52

Which type of audit is expected to determine whether:
the entity is acquiring, using and protecting its resources economically and efficiently
The entity's programs are achieving the desired results or benefits
the entity is accomplishing its mission in accordance with applicable laws, regulations, and publich policies

Back 52

Performance Audit

Front 53

Which audit phase involves gathering evidence and determining materiality and significance of the findings

Back 53

review phase

Front 54

during which audit phase would you select the most important areas for audit coverage

Back 54

planning phase

Front 55

what document includes the objectives of the audit, the findings and when appropriate, the recommendations

Back 55

the audit report

Front 56

what should be considered when evaluated the effectiveness of DoD audit organizations

Back 56

audit benefits

Front 57

what is the name of the GAO Standard that porvides reasonable assureance that DoD auditors comply with applicable auditing standards and DoD audit policies

Back 57

Quality Control