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Finance

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.
   
Within the Department of Defense, knowledge of Finance requires a thorough understanding of current legislation, business practices and government policies and procedures governing military and civilian pay, travel, contract and vendor pay, disbursing and debt management. The effective financial manager must possess a well-grounded understanding of all of the following:

  • how to correctly determine and pay entitlements
  • how obligations are established to pay for entitlements
  • how financial transactions impact the accounting systems
  • their role as the custodian of government resources
  • how DoD disbursing officials interact with the U.S. Treasury to discharge fiduciary responsibilities
  • how emerging technologies are tangent with the way entitlements are paid and accounted for
   
Finally, the effective DoD financial manager must understand and integrate the roles and responsibilities of budget officers, resource managers, contracting officers, logistics and supply officials, along with DFAS personnel and activities as they relate to determining, paying accounting for entitlements.
   
Test Study Preparation References
   
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 7a  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  Chap 1, 2, 6, 8 www.dtic.mil/comptroller/fmr
 FMR Vol 10 Contract Payment Policy & Procedures  Chap 1, 2, 7, 12, 18 www.dtic.mil/comptroller/fmr
 Vol 2  Joint Federal Travel Regulation     https://secureapp2.hqda.pentagon.mil/perdiem
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