How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Toney Williams, CDFM, CFE EMAIL: anthony. williams@navy. mil Phone #: (901) 874 -4336 PRIMARY REFERENCE: http: //www. asmconline. org Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 1
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks AGENDA q Brief Overview of The Three (3) CDFM Modules q Helpful “ Mental Tips” For Preparing for the Exam q Sample Test Questions and Answers q The Eight (8) Week Study Plan q Motivational Closing Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 2
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module One: Resource Management Environment ØCompetency One: The Government Resource Management Environment (about 15%) ØCompetency Two: The Defense Resource Management Environment (about 35%) ØCompetency Three: Manpower Management (about 10%) ØCompetency Four: Personnel Management (about 15%) ØCompetency Five: Management and Internal Controls (about 10%) **Fiscal q Law Competency: Located in “All Modules” (about 15%, 10%, 15%, respectively)** Module Two: Budget and Cost Analysis ØCompetency One: Planning, Programming, Budgeting & Execution (about 60%) ØCompetency Two: Cost and Economic Analysis (about 20%) ØCompetency Three: Business Management Process Improvement (about 10%) q Module Three: Accounting and Finance Ø Competency One: Finance (about 35%) ØCompetency Two: Accounting (about 35%) ØCompetency Three: Auditing (about 15%) Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL ***** Note, There are “CHANGES” to the Competencies listed above. You will have to visit the ASMC website (www. asmconline. org) for the updates as required ***** Slide 3
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module One: Resource Management Environment ØCompetency One: The Government Resource Management Environment (about 15%) ØThis area deals with the financial manager's knowledge of the government-wide processes involved in obtaining resources necessary to perform your organization's mission. Title Publisher Ed Chap/Sec Study Notes OMB Circular A-11 Preparation and Submission of Budget Exhibits 7/12/99 Part II www. whitehouse. gov/omb/circulars/index. html OMB Circular A-34 Budget Execution Instructions 11/7/97 Sec 32 Resinded: Relevant material incorporated into A-11 US Constitution Art I, II, and III Analytical Perspectives - US Budget Sec 12, 23 w 3. access. gpo. gov/usbudget Citizens Guide to Federal Budget w 3. access. gpo. gov/usbudget/fy 2001/guidet oc. html National Defense Budget Estimates Do. D Comptroller www. dtic. mil/comptroller/budgetindex. ht ml GAO's General Policies 1. 0 - 3. 0 www. gao. gov/policy/guidance. htm How Our Laws Are Made thomas. loc. gov/home/lawsmade. toc. html Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 4
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module One: Resource Management Environment ØCompetency Two: The Defense Resource Management Environment (about 35%) ØThis area deals with the role, size and impact of the Department of Defense (Do. D) in the Federal government, national security (defense) strategic planning process. This includes the Defense Planning Guidance, National Military Strategy, Quadrennial Defense Review, the Unified Command Plan, and role of the Commanders in Chief (Cin. Cs) and the inter-relationship of key Departmental managers to the resource management process. Title Publisher Ed Chap/Sec Study Notes OMB Circular A-11 Preparation and Submission of Budget Exhibits 7/12/99 Part II www. whitehouse. gov/omb/circulars/index. html OMB Circular A-34 Budget Execution Instructions 11/7/97 Sec 32 Resinded: Relevant material incorporated into A-11 US Constitution Art I, II, and III Analytical Perspectives - US Budget Sec 12, 23 w 3. access. gpo. gov/usbudget Citizens Guide to Federal Budget w 3. access. gpo. gov/usbudget/fy 2001/guidet oc. html National Defense Budget Estimates Do. D Comptroller www. dtic. mil/comptroller/budgetindex. htm l GAO's General Policies 1. 0 - 3. 0 www. gao. gov/policy/guidance. htm How Our Laws Are Made thomas. loc. gov/home/lawsmade. toc. html Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 5
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module One: Resource Management Environment ØCompetency Three: Manpower Management (about 10%) ØThis area deals with the financial manager's knowledge of personnel policies as they relate to resource management, manpower rules, regulations, laws, and development of manpower requirements. Manpower management, as referred to in financial management, refers primarily to processes used in estimating manpower requirements for budgetary purposes, tracking manpower and reporting manpower in a standard manner as required in OMB guidance. Number Title Ed Chap/Sec Study Notes OMB Cir A-76 Performance of Commercial Activities www. whitehouse. gov/omb/circulars/index. html Do. DI 5010. 37 Efficiency Review, Position Management, and Resource Request Determination 11/17/87 http: //www. dtic. mil/whs/directives Do. DI 1400. 32 Civilian Workforce Contingency and Emergency Planning 4/24/95 http: //www. dtic. mil/whs/directives Do. DI 1100. 19 Wartime Manpower Mobilization Planning, Policies & Procedures http: //www. dtic. mil/whs/directives Do. DI 4000. 19 Interservice and Intragovernmental Support Agreements 8/9/95 http: //www. dtic. mil/whs/directives Do. DI 7730. 18 Recurring Reports of Civilian Employment and Payrolls http: //www. dtic. mil/whs/directives Do. DD 1404. 1 Emergency Essential Do. D Employees 12/29/88 Do. DD 1205. 18 FTS to Reserve Components http: //www. dtic. mil/whs/directives PL 105 -270 Fed activity Inventory Reform Act of 1998 http: //thomas. loc. gov/home/thomas. html 18 US Code 4125 Prison Labor http: //uscode. house. gov Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 6
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module One: Resource Management Environment ØCompetency Four: Personnel Management (about 15%) ØThis area deals with personnel management principles and practices including: problem recognition and problem solving, generally accepted organization principles and practices - to include organizations as systems and personnel principles, practices, laws and regulations. Title Author Publisher City State Ed Chap/Sec Study Notes Fed Guide to Managing Discipline Reischl & Smith FPMI Communications Huntsville AL 2 nd Chap 1, 4, & 7 Fed Managers Guide to EEO Robert Gibson FPMI Communications Huntsville AL 2 nd, 1993 Chap 1 Managing Organizational Behavior Schermerhorn, Hunt & Osborn John Wiley & Sons NY 5 th, 1994 Chap 11, 16, & 17 Management Principles and Functions Ivanevich, Donnelly, Gibson BPI Irwin Homewood IL 4 th, 1989 Chap 3, 4, & 14 Mastering Decision Making Nat'l Institute of Business Mgmt NY 1991 Introduction Managing Pierce and Dunham Little, Brown, Scott, Foresman Glenview IL Chap 7, 13, & 14 5 US Code 2301 Merit System Supervisor's Guide to Federal Labor Relations Reisch & Smith FPMI Communications Huntsville AL 2 nd Chap 4 Management Bartel & Martin Irwin/Mc. Graw Hill NY 3 rd, 1991 Chap 5, 9, & 10 ISBN 0 -07 -005722 -2 Personnel Management in Government Schafritz, Hyde, Rosenbloom Marcel Dekker, Inc. NY 3 rd, 1981 Chap 13 Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 7
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module One: Resource Management Environment ØCompetency Five: Management and Internal Controls (about 10%) ØThis area deals with the financial manager's knowledge of the Federal Manager's Financial Integrity Act of 1982, Comptroller General Standards for internal controls in the Federal Government and applicable Federal Government and Do. D management control guidance and regulations. Number PL 97 -255 OMB Cir A-123 Do. DI 5010. 40 Title Fed Manager's Financial Integrity Act of 1982 Management Accountability and Control GAO Standards for Internal Controls in the Federal Government Management Control (MC) Program Instructions Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Chap/Sec Study Notes http: //thomas. loc. gov/home/thomas. html www. whitehouse. gov/omb/circulars/ index. html www. gao. gov http: //www. dtic. mil Slide 8
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q. Fiscal Law Competency: (about 15%) ØThis key area deals with the financial manager's knowledge of the law regarding availability of appropriations as to purpose, time and amount, applicable Comptroller General decisions, special purpose laws (Credit Reform, Foreign Assistance, Arms Export Control Acts), penalties and sanctions applicable under law, Anti-Deficiency Act (as applied to appropriations limitation), allotment or project executions, authorization and appropriation acts including their inter-relationship and respective roles, reporting and notification requirements. 10 USC 1341 10 USC 2208 10 USC 2410 10 USC 2801 10 USC 2667 10 USC 2805 10 USC 2811 5 USC 4501 -4507 4 USC 23 2 USC 681 OMB Cir A-11 GAO Red. Book FMR Vol 5 FMR Vol 7 a Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Anti-Deficiency Working Capital Funds Contract Payment Minor Construction Cost Limits Real Property, Leases Minor Construction Cost Reporting Requirements Major Repair Cost Limits Government Employees Incentive awards Act Project Orders Impoundment Control Act Preparation, Submission and Execution of the Budget Principles of Appropriation Law Disbursing Policy & Procedures - www. dtic. mil/comptroller/fmr Military Pay Policy & Procedures - www. dtic. mil/comptroller/fmr Slide 9
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module Two: Budget and Cost Analysis ØCompetency One: Planning, Programming, Budgeting & Execution (about 60%) This area deals with the financial manager's knowledge of the Do. D Planning, Programming, Budget and Execution system (PPBE) (process, terminology and products), Do. D budget formulation, review and execution, OMB circulars and implementing Do. D guidance, relationships among and use of appropriations and funds, stages of funds execution, reimbursable and support agreements, flow of funds and the Do. D programming process, terminology and products. Reference Title Chapter/Section Study Notes FMR Vol 1 General FM Information, Systems And Requirements Chap 1 www. dtic. mil/comptroller/fmr FMR Vol 2 a Budget Formulation & Presentation Chap 1 www. dtic. mil/comptroller/fmr FMR Vol 2 b Budget Formulation & Presentation Chap 14 www. dtic. mil/comptroller/fmr FMR Vol 11 a Reimbursable Operations & Procedures Chap 1, 2, 3 www. dtic. mil/comptroller/fmr FMR Vol 11 b Reimbursable Operations & Procedures - Working Capital Funds Chap 5 www. dtic. mil/comptroller/fmr FMR Vol 3 Budget Execution Chap 6 www. dtic. mil/comptroller/fmr Redbook Principles of Appropriation Law www. gao. gov/special. pubs/vol 1. pdf OMB Cir A-11 Preparation And Submission of Budget Estimates www. whitehouse. gov/omb/circulars/index. html OMB Cir A-76 Commercial Activities www. whitehouse. gov/omb/circulars/index. html 10 USC 2807 http: //uscode. house. gov Do. DI 4000. 19 Host Tenant Support http: //www. dtic. mil/whs/directives/ Do. DD 1100 -4 http: //www. dtic. mil/whs/directives Title 41 USC Food & Forage Act http: //uscode. house. gov Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 10
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module Two: Budget and Cost Analysis ØCompetency Two: Cost and Economic Analysis (about 20%) This area deals with the financial manager's knowledge of mathematical and statistical methods, cost estimating techniques, benefit analysis (including payback, return on investment and present value), system acquisition and life cycle management policies, including analysis of hardware. Title Author Publisher Ed Chap/Sec Study Notes Statistical Techniques in Business and Economics Mason & Lind Times Mirror Ed. Group, Van Hoffman Press 9 th, 1996 Pg 120 ISBN 0 -256 -13901 -6 Do. D 5000. 4 M Cost Analysis Guidance and Procedures Chap 2 http: //www. dtic. mil/whs/directives Do. D 5000. 2 R Mandatory Procedures for MDAPS and MAIS Acquisition Prog. Chap 4 http: //www. dtic. mil/whs/directives US Army Cost Manual Chap 4 http: //www. ceac. army. mil/ce/default. asp Cost Accounting Traditions and Innovations Barfield, Raiborn, Kinney West Publications 1994 Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 11
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module Two: Budget and Cost Analysis ØCompetency Three: Business Management Process Improvement (about 10%) This area deals with the financial manager's knowledge of concepts of business process reengineering, special authority to use receipts, Government Performance and Results Act of 1994 and directives and regulations related to performance of commercial activities. Title Author Chap/Sec Study Notes Business Process Reengineering On-Line Learning Center Chap 2 Reengineering Success Factors: BPR Principles www. prosci. com/factors. htm The Best Kept Secrets in Gov't National Performance Review For sale by GPO - ISBN 0 -16 -048770 -6 www. npr. gov/library/review. html Executive Guide - Effectively Implementing the GPRA GAO www. gao. gov/special. pubs/gg 96118. txt 10 USC 2667 - Real Property and Leases http: //uscode. house. gov Do. DI 4100. 33 - Commercial Activity Procedures http: //www. dtic. mil/whs/directives Government Performance and Results of 1993 http: //freedom. house. gov/results/legislation/p 110362. asp Fed Procurement Policy Letter 92 -1 www. arnet. gov/references/policy_letters/PL 92 -1. html Do. D Reform www. defenselink. mil/pubs/dodreform/chapter 3. html Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 12
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q. Fiscal Law Competency: (about 10%) ØThis key area deals with the financial manager's knowledge of the law regarding availability of appropriations as to purpose, time and amount, applicable Comptroller General decisions, special purpose laws (Credit Reform, Foreign Assistance, Arms Export Control Acts), penalties and sanctions applicable under law, Anti-Deficiency Act (as applied to appropriations limitation), allotment or project executions, authorization and appropriation acts including their inter-relationship and respective roles, reporting and notification requirements. 10 USC 1341 10 USC 2208 10 USC 2410 10 USC 2801 10 USC 2667 10 USC 2805 10 USC 2811 5 USC 4501 -4507 4 USC 23 2 USC 681 OMB Cir A-11 GAO Red. Book FMR Vol 5 FMR Vol 7 a Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Anti-Deficiency Working Capital Funds Contract Payment Minor Construction Cost Limits Real Property, Leases Minor Construction Cost Reporting Requirements Major Repair Cost Limits Government Employees Incentive awards Act Project Orders Impoundment Control Act Preparation, Submission and Execution of the Budget Principles of Appropriation Law Disbursing Policy & Procedures - www. dtic. mil/comptroller/fmr Military Pay Policy & Procedures - www. dtic. mil/comptroller/fmr Slide 13
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module Three: Accounting and Finance ØCompetency One: Finance (about 35%) This area deals with the financial manager's knowledge of basic rules covering military and civilian pay, travel entitlements, contract pay, disbursing and debt management, communication techniques (customer relations) and internal controls in finance organizations. Volume Title Chap/Sec Study Notes FMR Vol 1 General FM Information, Systems and Requirements Chap 7 www. dtic. mil/comptroller/fmr FMR Vol 4 Accounting Policy & Procedures Chap 5 www. dtic. mil/comptroller/fmr FMR Vol 5 Disbursing Policy & Procedures Chap 4, 7, 8, 10, 11, 19, 24, 29 www. dtic. mil/comptroller/fmr FMR Vol 7 a Military Pay Policy & Procedures Chap 2, 3 www. dtic. mil/comptroller/fmr FMR Vol 8 Civilian Pay Policy & Procedures Chap 1, 2, 3, 5, 8 www. dtic. mil/comptroller/fmr FMR Vol 9 Travel Policy & Procedures Contract Payment Policy & Procedures Chap 1, 2, 6, 8 www. dtic. mil/comptroller/fmr Chap 1, 2, 7, 12, 18 www. dtic. mil/comptroller/fmr https: //secureapp 2. hqda. pentagon. mil/ perdiem FMR Vol 10 Vol 2 Joint Federal Travel Regulation Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 14
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module Three: Accounting and Finance ØCompetency Two: Accounting (about 35%) This key area deals with the financial manager's knowledge of cost accounting procedures designed to capture total cost, generally accepted accounting principles. Title Author Chap/Sec FMR Volume 1 General FM Info, Systems and Requirements Definitions, Addendum 1 FMR Volume 4 Accounting Policy & Procedures Chap 2, 3, 5, 9, 20 www. dtic. mil/comptroller/fmr FMR Volume 6 Reporting Policy & Procedures www. dtic. mil/comptroller/fmr FMR Volume 6 b Form & Content of Do. D Audited Financial Statements www. dtic. mil/comptroller/fmr FMR Volume 11 b Reimbursable Operations, Working Capital Funds www. dtic. mil/comptroller/fmr Chap 1 www. dtic. mil/comptroller/fmr FMR Volume 13 Non-Appropriated Funds Policy and Procedures Statement of Recommended Accounting Standards Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL FASAB Study Notes www. dtic. mil/comptroller/fmr www. fasab. gov Slide 15
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q Module Three: Accounting and Finance ØCompetency Three: Auditing (about 15%) This area deals with the financial manager's knowledge of Comptroller General Standards (GAO Yellow Book), Federal Generally Accepted Accounting Principles, Do. D policies and procedures, documentation requirements, reporting requirements, audit program development criteria, frequency of review criteria and requirements and constraints on services other than audits. Title Study Notes Generally Accepted Government Audit Standards http: //www. gao. gov/govaud/ybk 01. htm GAO Yellow Book http: //www. gao. gov/govaud/ybk 01. htm Do. D 7600. 7 M Do. D Internal Audit Manual http: //www. dtic. mil/whs/directives/corres/ html/76007 m. htm Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 16
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Three (3) CDFM Exam Modules q. Fiscal Law Competency: (about 15%) ØThis key area deals with the financial manager's knowledge of the law regarding availability of appropriations as to purpose, time and amount, applicable Comptroller General decisions, special purpose laws (Credit Reform, Foreign Assistance, Arms Export Control Acts), penalties and sanctions applicable under law, Anti-Deficiency Act (as applied to appropriations limitation), allotment or project executions, authorization and appropriation acts including their inter-relationship and respective roles, reporting and notification requirements. 10 USC 1341 10 USC 2208 10 USC 2410 10 USC 2801 10 USC 2667 10 USC 2805 10 USC 2811 5 USC 4501 -4507 4 USC 23 2 USC 681 OMB Cir A-11 GAO Red. Book FMR Vol 5 FMR Vol 7 a Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Anti-Deficiency Working Capital Funds Contract Payment Minor Construction Cost Limits Real Property, Leases Minor Construction Cost Reporting Requirements Major Repair Cost Limits Government Employees Incentive awards Act Project Orders Impoundment Control Act Preparation, Submission and Execution of the Budget Principles of Appropriation Law Disbursing Policy & Procedures - www. dtic. mil/comptroller/fmr Military Pay Policy & Procedures - www. dtic. mil/comptroller/fmr Slide 17
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Helpful “Tips” For Preparing for the Exam q First and foremost ---Believe that you will pass---Confidence q Change your way of thinking----Think “Big” ---Think Department of Defense (DOD) q Think “comprehensive” --of large scope; covering or involving all DOD financial management; inclusive: For example, do not thinki. e. , the Department of Navy’s way or the Department of Army’s way etc. q Don’t procrastinate---You must commit your time and mind to studying q Block off and dedicate a specific amount of time and a place where you can persistently, consistently, and fervently study (preferably--8 weeks) Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 18
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Sample “Test” Questions & Answers Module One: Resource Management Environment A 1) There are C ____ appropriations bills passed each year. 10 2) The US Constitution took effect in C _____. March 4, 1776 3) _______ are the totals included in the C budget for budget authority, outlays, and receipts. Budget Authority Totals B C 12 13 March 4, 1778 Commitment Totals March 4, 1789 Budget Totals D 14 March 4, 1781 Outlay Totals 4) The _____ power shall be vested in a A President of the United States of America. Executive Judicial legislative 5) If Congress is not adjourned and a bill is not 10, is returned by the President in B days ___ considered it____. pocket veto 10, becomes law as if he signed it 10, does not 10, is returned become law by to the Congress Executive for vote privilege Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Appropriation Slide 19
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Sample “Test” Questions & Answers Module One: Resource Management Environment A B A 6) The mission of the ____ is to provide Department of the military forces needed to deter war and Department of Transportation to protect the security of our country. Defense (Do. D) (Do. T) 7) Defense Resource Board program review decisions are recorded in a set of A _____ and then signed by the Secretary or the Deputy Secretary of Defense, and distributed to the Do. D Components and OMB. They form the basis for the budget submissions. Program Decision Memorandum (PDM) 8) The second step in the enactment process is ____. The passage of this bill B allows programs to exist and provides recommended funding levels. spending Program Development Memorandum (PDM) authorization C Department of Navy (Do. N) Program Objective Memorandum (POM) commitment 9) The final document of the planning phase is the B _____. This document details defense policy, strategy, force planning, Defense Budget Defense Planing President's resource planning, and fiscal guidance. Guidance Budget Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL D Department of State (Do. S) Program Assessment Decision (PAD) obligation Joint Long Range Strategic Agenda Slide 20
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Sample “Test” Questions & Answers Module One: Resource Management Environment A D 10)The ____ prescribes rules and Congressional procedures under which the President may Budget Act of withhold appropriated funds from obligation. 1974 Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL B C D Balanced Budget and Emergency Impoundment Deficit Control Chapters 13 and Control Act of 1985 15, 31 USC 1974 Slide 21
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Sample “Test” Questions & Answers Module Two: Budget and Cost Analysis A B C D 1) The Services aggregate their inputs from operational organizations and field activities Program D to develop _______ based on the programs Decision and fiscal guidance contained in the POMs. Memorandum Budget Program Budget The Presidents Estimate Decision Budget Submissions C 2) The ______ and financial plan for Do. D as approved by the Secretary of Defense Fiscal Year complies cost and force structure data over a Program 6 -year period for congressional review. 11 Defense years total Program Annual Program Future Years Defense Program Budget Estimate Submissions C 3) The _______examines the global security situation and develops strategy to achieve National national security objectives and sets related Security force requirements. Strategy National Miltary Joint Strategic None of the Strategy Planning above A 4) The goal of the _____ was to achieve economy and enhance productivity. By increasing competition. It is designed to retain government functions in-house and rely on the commercial sector. Circular A-11 Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Circular A-76 SF 1 -33 Circular A-14 Slide 22
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Sample “Test” Questions & Answers Module Two: Budget and Cost Analysis A B C D Mean Range A 5) The _____ divides a sample of data in half and selects that number in the "middle" of the sample. Median Mode 6) The type of distribution in which data is evenly distributed forming a "bell shaped C polygon is called a _____. Skewed curve Histogram B 7) _____ enables users to draw inferences or correlations from small group called samples or larger groups called Economic population. analysis 8) Examples of information that can be used to collect, classify and analyze data before applying cost-estimating include all EXCEPT. Audit Reports Inferential statistics Technical Manuals Normal Curve Proportion Descriptive statistics Surveys Inferential economics All of these items may be used D Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 23
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Sample “Test” Questions & Answers Module Two: Budget and Cost Analysis A B C D Business Process 9) approach to dramatically improve operating Improvement, effectiveness by redesigning critical business Business systems, as opposed to incremental Process improvement. Regeneration Business Practice Innovation, Business Process Reengineering Business Process Innovation, Business Process Reengineering Base Process Innovation, Base Process Reengineering 10) No later than. D ____ of each year each agency head will submit to the President and Congress a report on performance for the previous fiscal year. 1 -Oct 1 -Jan C _______ or _______ is defined as an Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL 30 -Dec 31 -Mar Slide 24
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Sample “Test” Questions & Answers Module Three: Accounting and Finance A B 1) The Budgetary accounting equation is B ________. Resources = Assets=Liabilities Status of + Net Position Resources 2) The Proprietary Accounting equation A is______. Resources = Assets=Liabilities Status of + Net Position Resources A 3) The _______ exists to support the Congress in meeting its Constitutional responsibilities and to help improve the performance and accountability of the federal government for the American people. They examine the use of public funds, evaluates federal programs and activities, and provides analyses, options, recommendations, and other assistance to help the General Congress make effective oversight, Accountability policy, and funding decisions. Office Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Do. D IG C Assets + Liabilities + Owners Equity Assets + Liabilities + Expenses D None of the above Resources = Assets - Net Position Defense Finance Accounting Congressional Budget Office Service Slide 25
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Sample “Test” Questions & Answers Module Three: Accounting and Finance A Chief Financial Officers Act of 1990 as amended by the Government A 4) For the first time the _______, required Management annual audited financial statements for Reform Act of the United States Government. 1994 5) The 3 major functions of Finance are C ______. B D Chief Financial Budget Officers Act of The Government Execution Act of 1994 as amended Management 1990 as by the Reform Act of amended by the Government 1990 as amended Government Management by the Chief Management Reform Act of Financial Officers Reform Act of 1995 Act of 1994 Contracting and Communications, disbursement, Collections and contracting, & certification control 6) The type of audit that determines whether the entity is acquiring and using resources economically and efficiently, within applicable laws and if they are achieving the desired results Performance B is called ____. Compliance Audit Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL C Communications, certification and Collections, disbursement certification and control payroll Program Audit Financial Audit Slide 26
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Sample “Test” Questions & Answers Module Three: Accounting and Finance A B C 7) Over obligation of an appropriation or funds and obligations or contracts in advance of an appropriation is a A violation of________. 31, USC 1341(a) 31, USC 1342 31, USC 1517 D 8) _____ is a(are) the authority provided by Federal law to incur financial obligations that will result in immediate or future outlays. Allocations Appropriation Authorization 9) The rule that states a fiscal year appropriation may be only obligated to meet a legitimate need arising in the fiscal(s) for which the appropriation was Economy Order A made is called the ________. Bona Fide Need Rule of 72 10)The regulation that is composed of 15 volumes and provides Do. D components with the policy and procedures within the responsibility of the Under Secretary of Defense (Comptroller) is the_____ C Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL D 31, USC, Section 10 Budget Authority None of the above The Do. D 7014. 00 R, The Do. D Financial 7000. 14 R, The Red Book, The Yellow Management Financial Book, Financial Management Regulation (FMR)Regulation (FMR) Slide 27
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Eight (8)Week Study Plan q Weeks One & Two: ØFirst Two Days: Read The American Society of Military Comptrollers (ASMC) Reference Guide (July 2000_updated January 2004). §Read it straight through like a book/novel. You are reading for comprehension---not technical--not to research or reference ØSecond Ten Days: Read The Enhanced Defense Financial Management Training Course (EDFMTC) textbook §Read it straight through like a book/novel. You are reading for comprehension---not technical--not to research or reference ØLast Two Days: Rest and take in all that you have read on an inclusive level. That is, continue to digest the “Big” picture of DOD from your reading. Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 28
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Eight (8)Week Study Plan q Weeks Three & Four-- Module One (1): ØMonday Week # Three (3): Competency One (1), ONLY: 1) Read straight through every page of this competency 2) Take your time and answer each question of the Knowledge Check 3) Go Back and Read, extensively, all the information in the “SQUARE” boxes, ONLY! 4) Read straight through every page of this competency, again 5) Take your time and answer each question of the Knowledge Check, again ØTuesday thru Friday: Competencies Two-Five, ONLY : Repeat the five (5) steps listed above ØSaturday & Sunday: Rest ØRepeat the process above for week # Four (4): with the exception of Saturday; Saturday you take Module One Exam. Sunday you rest! Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 29
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Eight (8)Week Study Plan q Weeks Five & Six-- Module Two (2): ØMonday Week # Five (5): Competency One (1), ONLY: 1) Read straight through every page of this competency 2) Take your time and answer each question of the Knowledge Check 3) Go Back and Read, extensively, all the information in the “SQUARE” boxes, ONLY! 4) Read straight through every page of this competency, again 5) Take your time and answer each question of the Knowledge Check, again ØTuesday & Wednesday: Competencies Two & Three, respectively. Thursday & Friday: Fiscal Law Competency: Repeat the five (5) steps listed above for each day and each competency ØSaturday & Sunday: Rest ØRepeat the process above for week # Six (6): with the exception of Saturday; Saturday you take Module Two Exam. Sunday you rest Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 30
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks The Eight (8)Week Study Plan q Weeks Seven & Eight-- Module Three (3): ØMonday Week # Seven (7): Competency One (1), ONLY: 1) Read straight through every page of this competency 2) Take your time and answer each question of the Knowledge Check 3) Go Back and Read, extensively, all the information in the “SQUARE” boxes, ONLY! 4) Read straight through every page of this competency, again 5) Take your time and answer each question of the Knowledge Check, again ØTuesday & Wednesday: Competencies Two & Three, respectively. Thursday & Friday: Fiscal Law Competency: Repeat the five (5) steps listed above for each day and each competency ØSaturday & Sunday: Rest ØRepeat the process above for week # Eight (8): with the exception of Saturday; Saturday you take Module Three Exam. Sunday you rest Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 31
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Closing M: MotivationØ You have to develop a motive or a purpose as to why you want to become a CDFM. Ø Is it because you want a promotion? Ø Is it because you want the designation behind your name? Ø Is it for respect? Ø Is it for shear educational reasons or purposes? Ø Regardless of the reason or motive, you must discover that purpose. Once you discover that motive, you can then begin to act on that motive. Motive plus action equals Motivation! Motivation is a motive acted upon. You must develop a motive and then act on that motive and display and stay motivated. Ø All successful individuals share this attribute Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 32
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Closing O: OpportunityØ You must take advantage of every single opportunity that presents itself for you to learn and to study. Ø For example research and find out where the Enhance Defense Financial Management Training Course (EDFMTC) is being offered and sign up and take it – it is centrally funded – that is, it is free!!! Ø Take advantage of mentors, advice, articles, and the like, which will help you study and obtain your CDFM. Ø It is absolutely essential that you seek out every single opportunity that is possible. Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 33
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Closing N: NetworkØ Seek out those that already have the CDFM and network with them. Ø Trade business cards with them. Ø Seek advice and recommendations from them. Ø Network each and every opportunity that you get with someone that you know that has successfully passed the CDFM exam. Ø You will find this to be tremendously helpful. Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 34
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Closing E: EducationØ Set a goal to become more educated every day. Ø Take 30 minutes or an hour each day to study a segment of one of the modules of the CDFM. Ø It will make you smarter whether you are about to take the exam or not. Ø The CDFM, in of itself, is quality education – alone. Ø It will help you with your everyday work environment regardless of the branch of service that you work for - as the CDFM is DOD specific. Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 35
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Closing Y: YouØ Finally, it is all about Y-O-U! Ø Will you develop a motive and/or a reason or a purpose to take the CDFM exam? Ø Will you put that motive into action and demonstrate and develop motivation to study and pass the CDFM exam? Ø Will you take advantage of every opportunity to take classes including the EDFMTC? Ø Will you take the opportunity to become an “expert” in DOD FM? Ø Will you take the opportunity to standout and separate yourself from the average FM and your peers? Ø Will you educate yourself daily? Ø Will you use this eight week study plan? Will you become a CDFM in eight weeks? Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 36
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Closing M: *** Motivation *** O: *** Opportunity *** N: *** Network *** E: *** Education *** Y: *** You *** Will you take this M. O. N. EY ? ? ? Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 37
How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks QUESTIONS EMAIL: anthony. williams@navy. mil Phone #: (901) 874 -4336 PRIMARY REFERENCE: http: //www. asmconline. com/ Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 38
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