GFEBS L230E: Cost Management Process Overview
Course Assessment 2022 with complete solution
A Business Process is a unit of the organization from a costing perspective and
is used to collect costs. Business Processes are used to track and manage costs
for responsibility segments of the Army.
FALSE
_____________ allows the manager to plot out the costs expected to be incurred
during the coming year as they work to accomplish their assigned mission and
provide goods and services to their customers.
Cost planning
is where managers and leaders, using the results of their cost analysis as
decision support, implement those changes and enhancements that ultimately
move us towards a more efficient Army.
COST PLANNING
Cost Management in GFEBS consists of Cost Accounting, Cost Planning, Cost
Controlling, Cost Analysis, and Cost Testing.
FALSE
Assignments, rather than Allocations, should be utilized where possible unless
the quantities of products and services cannot be tracked or are cost prohibitive
TRUE
__________ is cost master data that represents a group of resources within a
Cost Center. These resource groups have capacity and a unit of measure such
as: labor hours, machine hours, square footage, etc.
Activity type
Knowing your obligations is the same as knowing your costs.
FALSE
_______ is predicting future dollars, quantities, and outputs, based on expected
requirements and/or workload.
Forecasting
The Actual Cost Line Item Report and the Cost by Report are both ECC reports
FALSE
The following reports are all examples of ECC reports: Cost By Report, Unit Cost
Report, Detailed Labor Cost Report, and Payroll Audit Report.
FALSE
GFEBS will only provide standard reports.
False
__________ is where managers and leaders, using the results of their cost
analysis as decision support, implement those changes and enhancements that
ultimately move us towards a more efficient Army.
Cost controlling
ECC reporting is modular and provides data in real-time, whereas BI reporting
allows for cross-modular reports using near real-time data.
True
Course Assessment 2022 with complete solution
A Business Process is a unit of the organization from a costing perspective and
is used to collect costs. Business Processes are used to track and manage costs
for responsibility segments of the Army.
FALSE
_____________ allows the manager to plot out the costs expected to be incurred
during the coming year as they work to accomplish their assigned mission and
provide goods and services to their customers.
Cost planning
is where managers and leaders, using the results of their cost analysis as
decision support, implement those changes and enhancements that ultimately
move us towards a more efficient Army.
COST PLANNING
Cost Management in GFEBS consists of Cost Accounting, Cost Planning, Cost
Controlling, Cost Analysis, and Cost Testing.
FALSE
Assignments, rather than Allocations, should be utilized where possible unless
the quantities of products and services cannot be tracked or are cost prohibitive
TRUE
__________ is cost master data that represents a group of resources within a
Cost Center. These resource groups have capacity and a unit of measure such
as: labor hours, machine hours, square footage, etc.
Activity type
Knowing your obligations is the same as knowing your costs.
FALSE
_______ is predicting future dollars, quantities, and outputs, based on expected
requirements and/or workload.
Forecasting
The Actual Cost Line Item Report and the Cost by Report are both ECC reports
FALSE
The following reports are all examples of ECC reports: Cost By Report, Unit Cost
Report, Detailed Labor Cost Report, and Payroll Audit Report.
FALSE
GFEBS will only provide standard reports.
False
__________ is where managers and leaders, using the results of their cost
analysis as decision support, implement those changes and enhancements that
ultimately move us towards a more efficient Army.
Cost controlling
ECC reporting is modular and provides data in real-time, whereas BI reporting
allows for cross-modular reports using near real-time data.
True
