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UNIT 1 Introduction to Financial Management questions with answers.
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UNIT 1 Introduction to Financial Management questions with answers.
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UNIT 1 Introduction to FinancialManagement questions with answers.
What is your organizations mission? ANS -disburse, collect, and account for public funds
What is the organizational structure? ANS -DOD, Assistant Secretary of the Air Force for Financial
Management and Comptroller, Major Commands, AF Installation and Mission Support Center,
Wing/Base, Comptroller, DFAS
Why is the organizational structure formulated? ANS -to ensure that accurate, auditable data reaches
DOD reporting channels.
All functions in the DOD and its components agencies are performed under what? ANS -authority,
direction, and control of the secretary of Defense
What is the DOD composed of? ANS -the Office of the Secretary of Defense, the military departments,
the chairman of the Joints Chief of Staff, combatant commands, inspector general of the DOD, the
Defense agencies
Each military department is organized separately under what? ANS -It's own secretary and functions
under the authority, direction, and control of the secretary of Defense
What is the function of the DOD? ANS -to support and defend the Constitution of the United States
against all enemies foreign or domestic; to ensure, by timely and effective military action, the security of
the US, its possessions and areas vital to its interest.
Who is under the authority, direction, and control of the secretary of Defense? ANS -the Undersecretary
of Defense Comptroller
What is the USD(C) role? ANS -principle advisor and assistant to the secretary and deputy secretary of
Defense for budgetary and fiscal matters
,What does the USD(C) advise the Secretary of Defense on? ANS -financial management, improvement of
the DOD financial management workforce, improvement and integration of performance and financial
information and achievement of audit readiness, accounting policy, budget formulation and execution,
and contract audit administration.
What does the comptroller advise and assist the DOD program? ANS -evaluation, and general
management improvement programs.
What is the USD(C) is the chief of? ANS -The chief financial officer of the Department of Defense
Who administers the DOD's budgeting, and execution process? ANS -The USD(C)
What are the four administrations does the USD(C) control? ANS -directs the formulation and
presentation of Defense budgets, interactions with the Congress on budgetary and fiscal matters, and
the execution and control of approved budgets, and maintains effective control and accountability over
the use of all financial resources of the DOD.
Who does the SAF/FM report directly to? ANS -The Secretary of the Air Force
What is the SAF/FM overall responsibility for the AF comptroller, programming, and financial
management functions? ANS -providing analytical services necessary for the effective and efficient use
and management of resource.
The SAF/FM and civilian appointee has the authority to do what? ANS -perform financial operations
under the National Defense Authorization Act
Who appoints the SAF/FM? Who approves the appointment? ANS -The President and Congress
Who serves as the principle advisor to the secretary and Chief of Staff of the AF? ANS -The SAF/FM
What is the mission of the SAF/FM? ANS -to maximize resources for our nations AF to ensure we are
able to meet the AF mission
, How does SAF/FM accomplish their mission? ANS -promoting financial integrity, providing outstanding
analytical capabilities, and enhancing the economical and efficient use of resources.
What are the responsibilities for the SAF/FM in the Department of the AF? ANS -provide guidance,
functional authority, direction, and oversight for all matters pertaining to the formulation, review, and
execution of plans, policies, programs, and budgets.
The SAF/FM is the focal contact point of whom? ANS -Congressional Appropriations committees, budget
committees, and congressional budget office, and is the office of management and budget.
The SAF/FM is responsible for advising whom? ANS -assisting SECAF, CSAF, and all principle civilian and
military officials of the AF concerning financial management affairs.
Who does the SAF/FM rely on? ANS -the principle deputy assistant secretary (PDAS) and the executive
for enlisted matters for advice, and the management of FM resources.
The executive for enlisted matters, is known as whom? ANS -Career Field Manager (CFM)
What does the SAF/FM is composed of what organizations? ANS -workforce management and executive
services directorate, deputy assistant secretary for budget (FMB), Deputy Assistant Secretary for
Programs, Deputy Assistant Secretary for Cost and Economics, and Deputy Assistant Secretary for
Financial Operations
The SAF/FM exercises oversight over what? ANS -the budgeting, cost estimating, programs and financial
operation in support of the AF priorities.
The PDAS is responsible for the development and training of what? ANS -AF financial management
community to include military and civilian members
The PDAS is a co-chair where? ANS -Development Team
Who is responsible for advising the SAF/ FM on utilization, education, training and assignment of
enlisted members throughout USAF financial management? ANS -CFM
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