TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS
RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
GFEBS Exam Study Guide with
Complete Solutions
Objectives for GFEBS Implementation - Correct Answer✔️✔️-1. Enable the automation
and integration of the majority of the Army's business processes.
2. Use of common data and business practices across the Army and throughout DoD by
using the Standard Financial Information Structure (SFIS) to standardize data.
3. Enable users to produce and access information in a real-time environment.
systems replaced - Correct Answer✔️✔️-two major systems replaced were the Standard
Finance System (STANFINS) and the Standard Operation and Maintenance Army
Research and Development System (SOMARDS).
L. 3 - SDRN - Correct Answer✔️✔️-Standard document reference number
SFIS - Correct Answer✔️✔️-Standard Financial Information Structure (SFIS
1/7
, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS
RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
sfis PLUS gfebs ALLOWS - Correct Answer✔️✔️-The use of SFIS within GFEBS
facilitates end-to-end connection of key business activities and provides:
•a means to record and track auditable financial information
•a basis for conducting sound financial analysis
•timely and reliable executive decision support
Funds Management - Correct Answer✔️✔️-Includes budget authority, fund allocation,
maintaining funds availability, performing funds analysis, budgetary accounting, and
generating reports
Cost Management - Correct Answer✔️✔️-Includes capturing cost accounting data,
performing cost assignment, cost accumulation, revenue accumulation, cost monitoring,
and generating reports.
Financials - Correct Answer✔️✔️-Includes maintaining the chart of accounts and
transaction posting rules, recording Journal Voucher entries, posting transactions to the
General Ledger and performing period end closing.
2/7
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS
RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
GFEBS Exam Study Guide with
Complete Solutions
Objectives for GFEBS Implementation - Correct Answer✔️✔️-1. Enable the automation
and integration of the majority of the Army's business processes.
2. Use of common data and business practices across the Army and throughout DoD by
using the Standard Financial Information Structure (SFIS) to standardize data.
3. Enable users to produce and access information in a real-time environment.
systems replaced - Correct Answer✔️✔️-two major systems replaced were the Standard
Finance System (STANFINS) and the Standard Operation and Maintenance Army
Research and Development System (SOMARDS).
L. 3 - SDRN - Correct Answer✔️✔️-Standard document reference number
SFIS - Correct Answer✔️✔️-Standard Financial Information Structure (SFIS
1/7
, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS
RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
sfis PLUS gfebs ALLOWS - Correct Answer✔️✔️-The use of SFIS within GFEBS
facilitates end-to-end connection of key business activities and provides:
•a means to record and track auditable financial information
•a basis for conducting sound financial analysis
•timely and reliable executive decision support
Funds Management - Correct Answer✔️✔️-Includes budget authority, fund allocation,
maintaining funds availability, performing funds analysis, budgetary accounting, and
generating reports
Cost Management - Correct Answer✔️✔️-Includes capturing cost accounting data,
performing cost assignment, cost accumulation, revenue accumulation, cost monitoring,
and generating reports.
Financials - Correct Answer✔️✔️-Includes maintaining the chart of accounts and
transaction posting rules, recording Journal Voucher entries, posting transactions to the
General Ledger and performing period end closing.
2/7
