GFEBS Business Process Areas
Cost Management Process Area - ANS-Cost Management (CM) enables manipulate
business operations effectively and efficaciously thru the correct size and understanding of
the "complete price" of an business enterprise's enterprise approaches, merchandise, and
offerings. Cost Management permits the business enterprise to provide the fine fee to
clients.
Financials - ANS-Now, permit's have a look at the Financials (FI) enterprise method vicinity.
In GFEBS, Financials is predicated on the execution of five key sub- processes (proven
under) to acquire the monetary information that appropriately reflects and conveys the
modern-day financial kingdom of the Army.
•Manage General Ledger Accounts
•Process Journal Vouchers
•Perform Cash Balancing
•Perform Period-End Close
•Perform Year-End Close
Funds Management - ANS-Within GFEBS, the Funds Management (FM) enterprise
processing characteristic performs the budgeting and funds manipulate for General Fund
appropriations obtained via the Army.
The principal functions of Funds Management include:
•Distributing, allocating and executing finances
•Ensuring that funds are not over-dedicated
•Allowing the Army to perform strategic planning
FM integrates primarily with the Financials (FI), Reimbursables (RM), and Spending Chain
(SC) enterprise method areas.
How does the Army use GFEBS to report economic reputation to the DoD and Treasury? -
ANS-First, GFEBS is the financial book of record for the Army's General Fund. Each
length-quit, the Army makes use of GFEBS to generate standardized financial reviews. The
General Ledger maintained in GFEBS includes the source transactions and balances
required to generate the monetary reports. These reviews summarize the general economic
circumstance of the Army's General Fund.
Certain grasp statistics within FI carefully integrates with master records in different GFEBS
business technique areas, especially with Funds Management (FM) and Cost Management
(CM). Each revenue and cost GL account in FI corresponds to a commitment item in FM and
a cost element in CM. FM commitment gadgets define how finances are both controlled or
spent by using the Army. Cost elements and cost items offer a method to music prices with
Cost Management Process Area - ANS-Cost Management (CM) enables manipulate
business operations effectively and efficaciously thru the correct size and understanding of
the "complete price" of an business enterprise's enterprise approaches, merchandise, and
offerings. Cost Management permits the business enterprise to provide the fine fee to
clients.
Financials - ANS-Now, permit's have a look at the Financials (FI) enterprise method vicinity.
In GFEBS, Financials is predicated on the execution of five key sub- processes (proven
under) to acquire the monetary information that appropriately reflects and conveys the
modern-day financial kingdom of the Army.
•Manage General Ledger Accounts
•Process Journal Vouchers
•Perform Cash Balancing
•Perform Period-End Close
•Perform Year-End Close
Funds Management - ANS-Within GFEBS, the Funds Management (FM) enterprise
processing characteristic performs the budgeting and funds manipulate for General Fund
appropriations obtained via the Army.
The principal functions of Funds Management include:
•Distributing, allocating and executing finances
•Ensuring that funds are not over-dedicated
•Allowing the Army to perform strategic planning
FM integrates primarily with the Financials (FI), Reimbursables (RM), and Spending Chain
(SC) enterprise method areas.
How does the Army use GFEBS to report economic reputation to the DoD and Treasury? -
ANS-First, GFEBS is the financial book of record for the Army's General Fund. Each
length-quit, the Army makes use of GFEBS to generate standardized financial reviews. The
General Ledger maintained in GFEBS includes the source transactions and balances
required to generate the monetary reports. These reviews summarize the general economic
circumstance of the Army's General Fund.
Certain grasp statistics within FI carefully integrates with master records in different GFEBS
business technique areas, especially with Funds Management (FM) and Cost Management
(CM). Each revenue and cost GL account in FI corresponds to a commitment item in FM and
a cost element in CM. FM commitment gadgets define how finances are both controlled or
spent by using the Army. Cost elements and cost items offer a method to music prices with
