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CDFM Module 3

Federal appropriations law can be categorized into which three topical areas? Purpose, Time & Amount
In the DoD, final decisions of fiscal law questions are "officially" rendered by whom? DoD General Counsel, Courts
What are the basic types of budget authority used in the Federal Government? Appropriations, Contract Authority, Borrowing Authority, Monetary Credits, Offsetting Collections & Receipts, Loan and Loan Guarantee Authority
Annual Appropriations remain available for new obligations for how long? They normally remain available for 1 fiscal year
Operations and Maintenance (O&M) is an example of what type of appropriation? Annual Appropriation
RDT&E is an example of what type of appropriation? Multi-year Appropriation
Budget authority does not expire in what type of appropriation? No-year Appropriation
Article 1, Section 9, of the U.S. Constitution gives the power to appropriate funds for operating the Government to which branch of the government? Legislative Branch (Congress)
Which law established the House and Senate Budget Committees and the Congressional Budget Office (CBO)? Congressional Budget Act of 1974
What are the three test which must be met for use of the Necessary Expense doctrine? Must bear a logical relationship, Not prohibited by law, Not funded elsewhere
Who are determined to be accountable individuals in the DoD? Certifying and disbursing officers and Departmental accountable officials
Who grants relief of liability to a certifying officer for erroneous or illegal payments in the DoD? DFAS
What type of budgetary resources remains available for new obligations for more than one fiscal year? Multi-year authority
What type of budgetary resources remains available for new obligations until the purpose for which they were provided is carried out? No-year authority
What type of congressional resolution can be thought of as a temporary appropriations act? Continuing resolution
If a contracting officer signs a contract in advance of an appropriations, what type of violation has occurred? Anti-deficiency Act Violation
What agency apportions funds for a working capital fund? OMB
What does sequestration of federal funds mean? Concerns automatic cuts in federal spending that occur through the withdrawal of funding for certain government programs, such as has occurred from the Gramm-Rudman-Hollings Act and the Budget Control Act of 2011
What are the four major functions in DoD Finance? Entitlements, Payments, Collections, Control of Public Funds
What is the primary organization in DoD with the responsibility for Finance Requirements? DFAS
What is the acronym for disbursing office identification numbers? Disbursing station symbol numbers (DSSN)
What three primary types of officials are accountable individuals in the DoD? Certifying and disbursing officers and Departmental accountable officials
Debt Collection includes collection of debts from what three groups? Current employees and military members, former employees and military members, vendors
What is the normal collection method for debts owed by active military members and civilian employees who are still in service? Salary Offset
When collecting debts owed by vendors that have failed to properly respond to demand letters, what is the next step? Do Not Pay List
When in doubt about the proper use of an appropriation, what may the disbursing officer request from the OSD General Counsel on the propriety of the prospective payment? An Advance Decision
To what, along with accountability, does certification equate? Liability
Who, besides the disbursing officer, is likely to be held accountable for an improper payment? Certifying officer
If a civilian employee receives less than 90% of his or her normal biweekly pay and allowances, what may he or she request? Special pay
When a civilian employee moves from a job overseas to a job in the states, which organization pays for the permanent duty travel? The losing activity (OCONUS)
Name the supporting documents required in the DoD payment package. Contract, invoice, proof of receipt and acceptance
Name two key forms that provide accountability and control by disbursing officers. SF 1219 Statement of Accountability (monthly), DD Form 2657, Daily Statement of Accountability
Which individuals hold personal and pecuniary liability for their actions in financial transactions? Certifying and disbursing officers and Departmental accountable officials
How often does the disbursing officer need to inspect and document office security measures? Semi-annually
The Budget and Accounting Act of 1921 established the GAO (Legislative Branch) to audit financial transactions of which branch of the Government? Executive Branch
The GPRA requires agencies to define goals, set performance targets and report what? Actual performance (results)
Any enforceable agreement between an agency and a business concern for the acquisition of property or services is called what? A contract
What term is used to describe Federal Government funds that have been paid but have not yet been identified to a specific organization? Undistributed Disbursements
What term is used is SFFAS #4 to describe the process of accumulating, measuring, analyzing, interpreting, and report cost? Managerial Cost Accounting
What are the two self-balancing sets of accounts in the U.S. Standard General Ledger (USSGL)? Budgetary & Proprietary
In proprietary accounting, assets equal liabilities plus what? Net Position
The aggregate amount of an entity's funds in the Treasury is in what account? Fund Balance w/Treasury
PP&E defines tangible assets with an estimated useful life of more than what number of years? 2 years
What is the Statement of Budgetary Resources equation? Budgetary Resources = Status of Budgetary Resources
Which financial statement shows the components of the net cost of the reporting entity's operation for the period? Statement of Net Cost
What DoD accounting entity maintains a central general ledger? DFAS
Which three federal agencies established the FASAB? GAO, Department of Treasury and OMB
What is the federal law that specifically required existing CFO agencies to have financial statements that successfully pass a financial audit? The Government Management Reform Act of 1994
What is the definition of a "successful financial audit"? Achieving an unmodified opinion
In which four waves of the FIAR process would a DoD entity expect to have an auditable Statement of Budgetary Resources, to include its Fund Balance w/Treasury? Wave 2
Government audits provide essential elements of public accountability and what? Control
Which standards generally apply to Federal Government audits? GAO Standards or GAGAS
Who conducts, supervises, monitors, and initiates audits and investigations relating to DoD programs and operations? DoDIG
Which is the DoD document that provides policy for DoD audit and internal review offices to use for conducting audits of DoD operations, systems, programs, and functions? DoDIG Audit Handbook
Auditors auditing with personal impairments violate which general standard? Independence
How many hours of continuing professional education must an auditor complete every 2 years? What is the minimum number of hours that must be completed in any year of the 2-year period? 80 hours in 2 years, 20 hours minimum for each year
The auditor is restricted access to essential data necessary to satisfy the audit objective. What type of impairment would this be? External Impairment
What type of audits are expected to determine whether: the financial information presented is in accordance with established criteria, the entity adhered to specific financial compliance requirements and the internal controls achieve control objectives. Financial Audit
Which type of audits are expected to determine whether: the entity manages resources effectively, programs achieve desired results and the entity accomplishes the mission in accordance w/laws, regulations and policies? Performance Audit
Which audit phase involves gathering evidence and determining materiality and significance of the findings. Review phase
During which audit phase would the auditor select the most important areas for audit coverage? Planning phase
What document includes the audit objectives, findings, and (when appropriate) recommendations? The Audit Report
What should be considered when evaluating the effectiveness of DoD audit organizations? Audit Benefits
What is the name of the GAO Standard that provides reasonable assurance that DoD auditors comply with applicable auditing standards and DoD audit policies? Quality Control & Assurance
Inspection of office security, separate and secure storage of records and equipment, and restricted systems access are examples of what kind of controls? Internal Controls
If auditors are deterred from acting objectively and exercising professional skepticism by pressures, actual or perceived, from management of the entity being audited, what would this be called? Threat to Auditor Independence
The ___________ provides you will only obligate for the material requirements of the period of fund availability. Bona Fide Needs Rule
The bona fide need occurs in the year the order is placed, not when? The goods or services are delivered
What are services for which the Government receives something useful immediately upon the expenditure of funds or by the end of the fiscal year? Severable services
What are services that cannot be separated into increments that will provides something useful at the end of the fiscal year? Non-Severable services
Training tends to be non-severable if? If the government must make a payment/deposit in the current year, scheduling is beyond the Government's control and the time between the obligation and performance is not excessive.
"Not less than" language in an appropriation connotes a legal minimum to be spent on a particular program, project or item. What is this concept Earmarking
What is the flow of funding Appropriation, Apportionment, Allotment, Commitment, Obligation, Outlay
Created by: lindag1979
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