Financial Manager (CDFM) in 8 Weeks

simpleluncheonΔιαχείριση

10 Νοε 2013 (πριν από 3 χρόνια και 9 μήνες)

77 εμφανίσεις

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Slide
1

EMAIL:
anthony.williams@navy.mil

Phone #: (901) 874
-
4336

PRIMARY REFERENCE: ASMC Website (
http://www.asmconline.org
) &

The Enhanced Defense Financial Management Training Course (EDFMTC) Textbook, rev Oct 2009

Toney Williams, CDFM, CFE

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
2

AGENDA


Brief Overview of The Three (3) CDFM Modules


Helpful “ Mental Tips” For Preparing for the Exam


Sample Test Questions and Answers


The Eight (8) Week Study Plan


Motivational Closing



Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
3

The Three (3) CDFM Exam Modules


Module Three: Accounting and Finance



Competency One:

Fiscal Law


Competency Two:

Finance


Competency Three:

Accounting


Competency Four:

Auditing


Module One: Resource Management Environment


Competency One:

Government Resource Management Environment


Competency Two:

Manpower Management


Competency Three:

Personnel Management


Competency Four:

Management’s Responsibility for Internal Control


Module Two: Budget and Cost Analysis


Competency One:

Defense Budget Process


Competency Two:

Cost and Economic Analysis


Competency Three:

Business Management / Process Improvement


Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
4

The Three (3) CDFM Exam Modules


Module One: Resource Management Environment


Competency One:

Government Resource Management Environment


This area deals with the financial manager’s knowledge of relationships of checks
and balances among the branches of the Federal Government; structure of the Federal
budget, including sources of revenue and expenditures; the roles of the President,
Congress, Treasury, OMB, and other Federal agencies in the legislative process, and the
four phases of the Budget Cycle.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1. How many branches of government did the Constitution establish?

Answer: Three

2. What agency issues apportionments?

Answer: Office of Management and Budget (OMB)

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
5

The Three (3) CDFM Exam Modules


Module One: Resource Management Environment


Competency Two:

Manpower Management


This area deals with the financial manager’s knowledge of manpower and force
management as they relate to resource management, manpower rules, regulations,
laws, and development of manpower requirements.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1.
Where can the rules for

calculating FTE employment be found?

Answer:
OMB Circular A
-
11

2.
What term is used to refer

to the totality of units in a DoD component?

Answer:
Force Structure

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
6

The Three (3) CDFM Exam Modules


Module One: Resource Management Environment


Competency Three:

Personnel Management


This area deals with the financial manager’s knowledge of training, conflict
resolution, performance appraisal, EEO complaint resolution, and improving poor
performance.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1.
New Federal employees normally serve a probationary

period of how long?

Answer:
One year

2.
Effective training

can be a critical component for achieving what?

Answer:
Organizational Goals

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
7

The Three (3) CDFM Exam Modules


Module One: Resource Management Environment


Competency Four:

Management’s Responsibility for Internal Control


This area deals with the financial manager’s knowledge of the Federal Managers’
Financial Integrity Act of 1982, Comptroller General Standards for Internal Controls
in the Federal Government, and applicable Federal Government and DoD management
control guidance and regulations.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1.
The Integrity Act report must include agency

plans to correct what type of
weakness?

Answer:
Material Weakness

2.
How many standards are there in the GAO Standards of Internal Control?

Answer:
Five

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
8

The Three (3) CDFM Exam Modules


Module Two: Budget and Cost Analysis


Competency One:

Defense Budget Process


This area deals with the financial manager’s knowledge of the DoD budget
formulation, review, and execution; OMB Circulars and implementation of DoD
guidance; relationships among and use of appropriations and funds; the stages of funds
execution; reimbursable and support agreements; flow of funds; and the DoD
programming process, terminology, and products.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1.
Who

serves as the Chairman of the National Security Council?

Answer:
The President of the United States of America

2.
Who is the principal

advisor and assistant to the Secretary of Defense for budget
and fiscal matters?

Answer:
Undersecretary

of Defense, (Comptroller) / CFO

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
9

The Three (3) CDFM Exam Modules


Module Two: Budget and Cost Analysis


Competency Two:

Cost and Economic Analysis


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, DoD Cost Guidance; concepts and principles for Activity
-
Based Costing; and
acquisition concepts, principles, and processes.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1.
Cost savings, cost avoidance and productivity improvement are

recognized as
what type of benefits?

Answer:
Quantifiable Benefits

2.
What is the difference between budget cost of work

performed and actual cost of
work performed?

Answer:
Cost Variance

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
10

The Three (3) CDFM Exam Modules


Module Two: Budget and Cost Analysis


Competency Three:

Business Management / Process Improvement


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 1993, and directives and regulations related to the performance of
commercial activities.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1.
What law or regulation has as

its goal the improvement of Federal program
effectiveness and public accountability by promoting a new focus on results, service
quality, and customer satisfaction?

Answer:
Government Performance and Results

Act (GPRA)

2.
What is an assessment of the results of a program activity when comparing to its

intended purpose?

Answer:
Outcome or Outcome

Measures

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
11

The Three (3) CDFM Exam Modules


Module Three: Accounting and Finance


Competency One:

Fiscal Law


This area deals with the financial manager’s knowledge of law regarding availability
of appropriation as to the 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; the Anti
-
deficiency Act (as applied
to appropriation limitations); allotment or project executions; and authorization and
appropriation acts including the interrelationship and respective roles, reporting, and
notification requirements.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1.
Federal

appropriations law can be categorized into which three topical areas?

Answer:
Purpose,

Time, and Amount (PTA)

2.
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?

Answer:
Legislative

Branch (Congress)

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
12

The Three (3) CDFM Exam Modules


Module Three: Accounting and Finance


Competency Two:

Finance


This area deals with the financial manager’s knowledge of rules concerning: military
and civilian pay, travel entitlements, vendor payments, electronic commerce, debt
management, and public funds internal controls and responsibility.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1.
What is the primary organization in DoD with the responsibility for Finance
requirements?

Answer:
The Defense Finance and Accounting Service (DFAS)

2.
Which individuals hold

personal and pecuniary liability for their actions in
financial transactions?

Answer: Certifying Officers,

Disbursing Officers, and Accountable Officials

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
13

The Three (3) CDFM Exam Modules


Module Three: Accounting and Finance


Competency Three:

Accounting


This area deals with the financial manager’s knowledge of Federal accounting
procedures and practices.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1.
The Budget and Accounting Act of 1921 established the GAO (Legislative

Branch)
to audit financial transactions of which branch of the government?

Answer:
The Executive Branch (President)

2.
What are the two self
-
balancing sets of accounts in the U.S.

Government Standard
General Ledger (USGSGL)?

Answer: Budgetary and Proprietary

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
14

The Three (3) CDFM Exam Modules


Module Three: Accounting and Finance


Competency Four:

Auditing


This area deals with the financial manager’s knowledge of Comptroller General’s
Generally Accepted Government Auditing Standards (often called simply the Yellow
Book), DoD audit policies and procedures, documentation requirements, reporting
requirements, audit program development criteria, frequency review criteria and
requirements, and constraints on non
-
audit services.

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


Knowledge Check

1.
Who conducts, supervises,

monitors, and initiates audits and investigations
relating to DoD programs and operations?

Answer:
Department of Defense

Inspector General (DODIG)

2.
What

document includes the objectives of the audit, the findings, and when
appropriate, the recommendations?

Answer:
The Audit Report

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
15

Helpful “Tips” For Preparing for the Exam


Block off and dedicate a specific amount of time (preferably
--
8 weeks)
and a place where you can persistently, consistently, and fervently study


First and foremost , “Believe that you will pass and you will”
-

When you believe something can be done, your mind will find ways
to do it. Believing a solution paves the way to a solution. ***You
must exude CONFIDENCE ***


Change your way of thinking about financial management (FM)
--
Think “Big”
---
Think Department of Defense (DOD) FM!


Accept the law of cause and effect. What appears to be someone’s
“Good Luck”…is “NOT” luck but “Planning, Preparation,
Successful Thinking, Motivation, and *** Action ***


Don’t procrastinate
---
You must commit your time and mind to
studying


remember Action cures fear !!!

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
16

Sample “Test” Questions & Answers

Module One: Resource Management Environment

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


If Congress and the President do not complete action on all
appropriation by ____ of September a _____ is passed by both houses
to avoid a shutdown of government.

30th, continuing
resolution

31th, continuing
resolution

7th, continuing
resolution

24th, continuing
resolution

A

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
17

Sample “Test” Questions & Answers

Module One: Resource Management Environment

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


The House and Senate budget committees manage the budget
resolution step, These committees use the analysis provided by the
_____, as well as the views and estimates provided by the standing
committees regarding the funding required to continue their
programs

Congressional
Budget Office
(CBO)

House
Appropriations
Committee

Senate
Appropriations
Committee

President's Chief
of Staff

A

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
18

Sample “Test” Questions & Answers

Module One: Resource Management Environment

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


One of the goals of the _____ was to provide for improvement, in
each agency of the Federal Government, of systems of accounting,
financial management, and internal controls to assure the issuance of
reliable financial information and to deter fraud, waste, and abuse of
Government resources.

CFO Act

Omnibus
Reconciliation
Act

Federal
Managers
Financial
Integrity Act

Budget
Enforcement Act

A

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
19

Sample “Test” Questions & Answers

Module One: Resource Management Environment

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


_______ is the basic substantive legislation enacted by Congress that
sets up or continues the legal operation of a Federal program or
agency either indefinitely or for a specific time frame or sanctions a
particular type of obligation or expenditure within a program.

Allocations

Appropriations

Authorization

Budget
Authority

C

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
20

Sample “Test” Questions & Answers

Module Two: Defense Budget Process

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


_________ is part of the government
-
wide system for the
administrative control of appropriations and funds. It is a
distribution of an amount available for obligation and/or
commitment in an appropriation or fund account into amounts
available for specified time periods, activities, projects, or
combinations.

Allotment

Apprortionment
request

Apportionment

Treasury
Warrant

C

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
21

Sample “Test” Questions & Answers

Module Two: Defense Budget Process

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


A ________ is a type of Economic Analysis that documents the review
of an entire process such as supply or maintenance. It requires a risk
assessment of each alternative requesting high and low estimates for
each cost element and subsequent probability distribution of
expected costs.

Capital Budget
Analysis

Environmental
Quality
Economic
Analyses

Functional
Economic
Analysis

Competitive
Source
Economic
Analysis

C

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
22

Sample “Test” Questions & Answers

Module Two: Defense Budget Process

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


The ______ provides guidance to the Federal Manager on improving
accountability and effectiveness of Federal programs and operations
by establishing assessing, correcting and reporting management
controls.

OMB Circular
A
-
11

OMB Circular
A
-
123

OMB Circular
A
-
76

OMB Circular
A
-
34

B

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
23

Sample “Test” Questions & Answers

Module Three: Accounting and Finance

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


______is required for reprogramming that result in increases in
procurement quantities of major program end items, changes to
Congressional Interest Items in an Authorization Act, movement of
funds between appropriations involving General Transfer Authority.

Presidental
Approval

Office of
Management
and Budget
Approval

Congressional
Prior Approval

All of the above

C

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
24

Sample “Test” Questions & Answers

Module Three: Accounting and Finance

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


The regulation that is composed of 15 volumes and provides DoD
components with the policy and procedures within the responsibility
of the Under Secretary of Defense (Comptroller) is the__________

The Red Book,
Financial
Management
Regulation
(FMR)

The Yellow
Book, Financial
Management
Regulation
(FMR)

The DoD
7000.14R,
Financial
Management
Regulation
(FMR)

The DoD
7014.00R,
Financial
Management
Regulation
(FMR)

C

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
25

Sample “Test” Questions & Answers

Module Three: Accounting and Finance

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


The major focus of ________ is on certifying entitlements and
making payments. Additionally, it focuses on the various
disbursement responsibilities and requirements for safeguarding the
resources that are under an accountable individuals control.

Accounting

Contracting

Budget

Finance

D

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
26

Sample “Test” Questions & Answers

Module Three: Accounting and Finance

A

B

C

D

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


The type of audit that determines whether financial information is
presented in accordance with established criteria, whether there is
adherence to compliance requirements and if financial assets are
adequately safeguarded is a _____________ audit.

Compliance
Audit

Performance
Audit

Program Audit

Financial Audit

D

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
27

The Eight (8)Week Study Plan


Last Two Days (Saturday and Sunday):

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.


Weeks One (1) & Two (2):


First Two Days (Monday and Tuesday):

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


Second Ten Days (Wednesday thru Friday):

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

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


*** Comprehension
through
Repetition ***

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
28

The Eight (8)Week Study Plan


Saturday & Sunday:

Rest !!!


Weeks Three (3) & Four (4)
--

Module One (1):


Wednesday thru Friday: Competencies Two
-
Four, ONLY :

Repeat the five (5)
steps listed above.


Repeat 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 2011

Minneapolis, MN



Monday and Tuesday of
Week Three (3):
Follow the Required Five (5) steps for
Competency Area #1: The five steps are as follows:

*** Comprehension
through
Repetition ***

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
29

The Eight (8)Week Study Plan


Saturday & Sunday:

Rest !!!


Weeks Five (5) & Six (6)
--

Module Two (2):


Wednesday thru Friday: Competencies Two & Three, ONLY :

Repeat the five (5)
steps listed above.


Repeat 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 2011

Minneapolis, MN



Monday and Tuesday of
Week Five (5):
Follow the Required Five (5) steps for
Competency Area #1: The five steps are as follows:

*** Comprehension
through
Repetition ***

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
30

The Eight (8)Week Study Plan


Saturday & Sunday:

Rest !!!


Weeks Seven (7) & Eight (8)
--

Module Three (3):


Wednesday thru Friday: Competencies Two
-
Four, ONLY :

Repeat the five (5)
steps listed above.


Repeat 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 2011

Minneapolis, MN



Monday and Tuesday of
Week Seven (7):
Follow the Required Five (5) steps for
Competency Area #1: The five steps are as follows:

*** Comprehension
through
Repetition ***

How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
31

Closing



M: Motivation
-


You have to develop a motive or a purpose as to why you want to become a
CDFM.


Is it because you want a promotion?


Is it because you want the designation behind your name?


Is it for respect?


Is it for shear educational reasons or purposes?


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.


All successful individuals share this attribute


Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
32

Closing



O: Opportunity
-


You must take advantage of every single opportunity that presents itself for you
to learn and to study.


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!!!


Take advantage of mentors, advice, articles, and the like, which will help you
study and obtain your CDFM.


It is absolutely essential that you seek out every single opportunity that is
possible.


Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
33

Closing



N: Network
-


Seek out those that already have the CDFM and network with them.



Trade business cards with them.



Seek advice and recommendations from them.



Network each and every opportunity that you get with someone that you know
that has successfully passed the CDFM exam.



You will find this to be tremendously helpful.


Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
34

Closing



E: Education
-


Set a goal to become more educated every day.



Take 30 minutes or an hour each day to study a segment of one of the modules of
the CDFM.



It will make you smarter whether you are about to take the exam or not.




The CDFM, in of itself, is quality education


alone.


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 2011

Minneapolis, MN


How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
35

Closing



Y: You
-


Finally, it is all about Y
-
O
-
U!



Will you develop a motive and/or a reason or a purpose to take the CDFM exam?


Will you put that motive into action and demonstrate and develop motivation to
study and pass the CDFM exam?



Will you take advantage of every opportunity to take classes including the
EDFMTC?



Will you take the opportunity to become an “expert” in DOD FM?



Will you take the opportunity to standout and separate yourself from the average
FM and your peers?



Will you educate yourself daily?


Will you use this eight week study plan? Will you become a CDFM in eight
weeks?

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
36

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 2011

Minneapolis, MN


How to Become A Certified Defense
Financial Manager (CDFM) in 8 Weeks

Slide
37

QUESTIONS

Toney Williams, CDFM, CFE

ASMC PDI 2011

Minneapolis, MN


EMAIL:
anthony.williams@navy.mil

Phone #: (901) 874
-
4336

PRIMARY REFERENCE: ASMC Website (
http://www.asmconline.org
) &

The Enhanced Defense Financial Management Training Course (EDFMTC) Textbook, rev Oct 2009