How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Slide 1 Phone #: (901) PRIMARY REFERENCE: 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 2010 Orlando, FL

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: Finance (about 35%)  Competency Two: Accounting (about 35%)  Competency Three: Auditing (about 15%)  Module One: Resource Management Environment  Competency One: The Government Resource Management Environment (about 15%)  Competency Two: The Defense Resource Management Environment (about 35%)  Competency Three: Manpower Management (about 10%)  Competency Four: Personnel Management (about 15%)  Competency Five: Management and Internal Controls (about 10%) **Fiscal Law Competency: Located in “All Modules” (about 15%, 10%, 15%, respectively)**  Module Two: Budget and Cost Analysis  Competency One: Planning, Programming, Budgeting & Execution (about 60%)  Competency Two: Cost and Economic Analysis (about 20%)  Competency Three: Business Management Process Improvement (about 10%) Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL ***** Note, There are “CHANGES” to the Competencies listed above. You will have to visit the ASMC website ( for the updates as required *****

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: The Government Resource Management Environment (about 15%)  This area deals with the financial manager's knowledge of the government-wide processes involved in obtaining resources necessary to perform your organization's mission. TitlePublisherEdChap/SecStudy Notes OMB Circular A-11 Preparation and Submission of Budget Exhibits 7/12/99Part II html OMB Circular A-34 Budget Execution Instructions 11/7/97Sec 32 Resinded: Relevant material incorporated into A-11 US Constitution Art I, II, and III Analytical Perspectives - US Budget Sec 12, 23w3.access.gpo.gov/usbudget Citizens Guide to Federal Budget w3.access.gpo.gov/usbudget/fy2001/guidet oc.html National Defense Budget Estimates DoD Comptroller ml GAO's General Policies www.gao.gov/policy/guidance.htm How Our Laws Are Made thomas.loc.gov/home/lawsmade.toc.html Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

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: The Defense Resource Management Environment (about 35%)  This area deals with the role, size and impact of the Department of Defense (DoD) in the Federal government, national security (defense) strategic planning process. This includes the Defense Planning Guidance, National Military Strategy, Quadrennial Defense Review, the Unified Command Plan, and role of the Commanders in Chief (CinCs) and the inter-relationship of key Departmental managers to the resource management process. TitlePublisherEdChap/SecStudy Notes OMB Circular A-11 Preparation and Submission of Budget Exhibits 7/12/99Part II tml OMB Circular A-34 Budget Execution Instructions 11/7/97Sec 32 Resinded: Relevant material incorporated into A-11 US Constitution Art I, II, and III Analytical Perspectives - US Budget Sec 12, 23w3.access.gpo.gov/usbudget Citizens Guide to Federal Budget w3.access.gpo.gov/usbudget/fy2001/guidet oc.html National Defense Budget Estimates DoD Comptroller l GAO's General Policies www.gao.gov/policy/guidance.htm How Our Laws Are Made thomas.loc.gov/home/lawsmade.toc.html Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

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: Manpower Management (about 10%)  This area deals with the financial manager's knowledge of personnel policies as they relate to resource management, manpower rules, regulations, laws, and development of manpower requirements. Manpower management, as referred to in financial management, refers primarily to processes used in estimating manpower requirements for budgetary purposes, tracking manpower and reporting manpower in a standard manner as required in OMB guidance. NumberTitleEdChap/SecStudy Notes OMB Cir A-76Performance of Commercial Activities DoDI Efficiency Review, Position Management, and Resource Request Determination 11/17/87 DoDI Civilian Workforce Contingency and Emergency Planning 4/24/95 DoDI Wartime Manpower Mobilization Planning, Policies & Procedures DoDI Interservice and Intragovernmental Support Agreements 8/9/95 DoDI Recurring Reports of Civilian Employment and Payrolls DoDD Emergency Essential DoD Employees 12/29/88 DoDD FTS to Reserve Components PL Fed activity Inventory Reform Act of US Code 4125Prison Labor Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

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: Personnel Management (about 15%)  This area deals with personnel management principles and practices including: problem recognition and problem solving, generally accepted organization principles and practices - to include organizations as systems and personnel principles, practices, laws and regulations. TitleAuthorPublisherCityStateEdChap/SecStudy Notes Fed Guide to Managing DisciplineReischl & Smith FPMI CommunicationsHuntsvilleAL 2ndChap 1, 4, & 7 Fed Managers Guide to EEO Robert Gibson FPMI CommunicationsHuntsvilleAL 2nd, 1993Chap 1 Managing Organizational Behavior Schermerhorn, Hunt & Osborn John Wiley & Sons NY 5th, 1994 Chap 11, 16, & 17 Management Principles and Functions Ivanevich, Donnelly, Gibson BPI Irwin Homewood IL 4th, 1989 Chap 3, 4, & 14 Mastering Decision Making Nat'l Institute of Business Mgmt NY 1991 Introduction Managing Pierce and Dunham Little, Brown, Scott, Foresman Glenview IL Chap 7, 13, & 14 5 US Code 2301 Merit System Supervisor's Guide to Federal Labor Relations Reisch & Smith FPMI Communications Huntsville AL 2nd Chap 4 Management Bartel & Martin Irwin/McGraw Hill NY 3rd, 1991 Chap 5, 9, & 10 ISBN Personnel Management in Government Schafritz, Hyde, Rosenbloom Marcel Dekker, Inc. NY 3rd, 1981 Chap 13 Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 8 The Three (3) CDFM Exam Modules  Module One: Resource Management Environment  Competency Five: Management and Internal Controls (about 10%)  This area deals with the financial manager's knowledge of the Federal Manager's 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. NumberTitleChap/SecStudy Notes PL Fed Manager's Financial Integrity Act of htmlhttp://thomas.loc.gov/home/thomas. html OMB Cir A-123 Management Accountability and Control ndex.html GAO Standards for Internal Controls in the Federal Government then click on "Other Publications" DoDI Management Control (MC) Program Instructions Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 9 The Three (3) CDFM Exam Modules  Fiscal Law Competency: (about 15%)  This key area deals with the financial manager's knowledge of the law regarding availability of appropriations as to 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, Anti-Deficiency Act (as applied to appropriations limitation), allotment or project executions, authorization and appropriation acts including their inter-relationship and respective roles, reporting and notification requirements. 10 USC 1341Anti-Deficiency 10 USC 2208Working Capital Funds 10 USC 2410 Contract Payment 10 USC 2801Minor Construction Cost Limits 10 USC 2667Real Property, Leases 10 USC 2805Minor Construction Cost Reporting Requirements 10 USC 2811Major Repair Cost Limits 5 USC Government Employees Incentive awards Act 4 USC 23Project Orders 2 USC 681Impoundment Control Act OMB Cir A-11Preparation, Submission and Execution of the Budget GAO RedBookPrinciples of Appropriation Law FMR Vol 5Disbursing Policy & Procedures - FMR Vol 7aMilitary Pay Policy & Procedures - Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

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 One: Planning, Programming, Budgeting & Execution (about 60%) This area deals with the financial manager's knowledge of the DoD Planning, Programming, Budget and Execution system (PPBE) (process, terminology and products), DoD budget formulation, review and execution, OMB circulars and implementing DoD guidance, relationships among and use of appropriations and funds, stages of funds execution, reimbursable and support agreements, flow of funds and the DoD programming process, terminology and products. Reference Title Chapter/Section Study Notes FMR Vol 1 General FM Information, Systems And RequirementsChap 1 FMR Vol 2a Budget Formulation & PresentationChap 1 FMR Vol 2b Budget Formulation & Presentation Chap 14 FMR Vol 11a Reimbursable Operations & Procedures Chap 1, 2, 3 FMR Vol 11b Reimbursable Operations & Procedures - Working Capital Funds Chap 5 FMR Vol 3 Budget Execution Chap 6 RedbookPrinciples of Appropriation Law OMB Cir A-11 Preparation And Submission of Budget Estimates OMB Cir A-76 Commercial Activities 10 USC DoDI Host Tenant Support DoDD Title 41 USC Food & Forage Act Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 11 The Three (3) CDFM Exam Modules  Module Two: Budget and Cost Analysis  Competency Two: Cost and Economic Analysis (about 20%) 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, including analysis of hardware. TitleAuthor Publisher Ed Chap/Sec Study Notes Statistical Techniques in Business and Economics Mason & Lind Times Mirror Ed. Group, Van Hoffman Press 9th, 1996 Pg 120 ISBN DoD M Cost Analysis Guidance and Procedures Chap 2 DoD R Mandatory Procedures for MDAPS and MAIS Acquisition Prog. Chap 4 US Army Cost Manual Chap 4 Cost Accounting Traditions and Innovations Barfield, Raiborn, Kinney West Publications 1994 Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 12 The Three (3) CDFM Exam Modules  Module Two: Budget and Cost Analysis  Competency Three: Business Management Process Improvement (about 10%) 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 1994 and directives and regulations related to performance of commercial activities. Title Author Chap/Sec Study Notes Business Process Reengineering On-Line Learning Center Chap 2 Reengineering Success Factors: BPR Principles The Best Kept Secrets in Gov't National Performance Review For sale by GPO - ISBN Executive Guide - Effectively Implementing the GPRA GAO 10 USC Real Property and Leases DoDI Commercial Activity Procedures Government Performance and Results of asphttp://freedom.house.gov/results/legislation/p asp Fed Procurement Policy Letter DoD Reform Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 13 The Three (3) CDFM Exam Modules  Fiscal Law Competency: (about 10%)  This key area deals with the financial manager's knowledge of the law regarding availability of appropriations as to 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, Anti-Deficiency Act (as applied to appropriations limitation), allotment or project executions, authorization and appropriation acts including their inter-relationship and respective roles, reporting and notification requirements. 10 USC 1341Anti-Deficiency 10 USC 2208Working Capital Funds 10 USC 2410 Contract Payment 10 USC 2801Minor Construction Cost Limits 10 USC 2667Real Property, Leases 10 USC 2805Minor Construction Cost Reporting Requirements 10 USC 2811Major Repair Cost Limits 5 USC Government Employees Incentive awards Act 4 USC 23Project Orders 2 USC 681Impoundment Control Act OMB Cir A-11Preparation, Submission and Execution of the Budget GAO RedBookPrinciples of Appropriation Law FMR Vol 5Disbursing Policy & Procedures - FMR Vol 7aMilitary Pay Policy & Procedures - Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

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 One: Finance (about 35%) 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. VolumeTitleChap/SecStudy Notes FMR Vol 1 General FM Information, Systems and Requirements Chap 7 FMR Vol 4 Accounting Policy & Procedures Chap 5 FMR Vol 5 Disbursing Policy & Procedures Chap 4, 7, 8, 10, 11, 19, 24, 29www.dtic.mil/comptroller/fmr FMR Vol 7a Military Pay Policy & ProceduresChap 2, 3www.dtic.mil/comptroller/fmr FMR Vol 8Civilian Pay Policy & ProceduresChap 1, 2, 3, 5, 8www.dtic.mil/comptroller/fmr FMR Vol 9 Travel Policy & Procedures Chap 1, 2, 6, 8www.dtic.mil/comptroller/fmr FMR Vol 10 Contract Payment Policy & Procedures Chap 1, 2, 7, 12, 18www.dtic.mil/comptroller/fmr Vol 2 Joint Federal Travel Regulation l/perdiem l/perdiem Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 15 The Three (3) CDFM Exam Modules  Module Three: Accounting and Finance  Competency Two: Accounting (about 35%) This key area deals with the financial manager's knowledge of cost accounting procedures designed to capture total cost, generally accepted accounting principles. TitleAuthorChap/SecStudy Notes FMR Volume 1 General FM Info, Systems and Requirements Definitions, Addendum 1 FMR Volume 4 Accounting Policy & Procedures Chap 2, 3, 5, 9, 20 FMR Volume 6 Reporting Policy & Procedures FMR Volume 6b Form & Content of DoD Audited Financial Statements FMR Volume 11b Reimbursable Operations, Working Capital Funds FMR Volume 13 Non-Appropriated Funds Policy and Procedures Chap 1 Statement of Recommended Accounting Standards FASAB Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 16 The Three (3) CDFM Exam Modules  Module Three: Accounting and Finance  Competency Three: Auditing (about 15%) This area deals with the financial manager's knowledge of Comptroller General Standards (GAO Yellow Book), Federal Generally Accepted Accounting Principles, DoD policies and procedures, documentation requirements, reporting requirements, audit program development criteria, frequency of review criteria and requirements and constraints on services other than audits. TitleStudy Notes Generally Accepted Government Audit Standards GAO Yellow Book DoD M DoD Internal Audit Manual html/76007m.htmhttp:// html/76007m.htm Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 17 The Three (3) CDFM Exam Modules  Fiscal Law Competency: (about 15%)  This key area deals with the financial manager's knowledge of the law regarding availability of appropriations as to 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, Anti-Deficiency Act (as applied to appropriations limitation), allotment or project executions, authorization and appropriation acts including their inter-relationship and respective roles, reporting and notification requirements. 10 USC 1341Anti-Deficiency 10 USC 2208Working Capital Funds 10 USC 2410 Contract Payment 10 USC 2801Minor Construction Cost Limits 10 USC 2667Real Property, Leases 10 USC 2805Minor Construction Cost Reporting Requirements 10 USC 2811Major Repair Cost Limits 5 USC Government Employees Incentive awards Act 4 USC 23Project Orders 2 USC 681Impoundment Control Act OMB Cir A-11Preparation, Submission and Execution of the Budget GAO RedBookPrinciples of Appropriation Law FMR Vol 5Disbursing Policy & Procedures - FMR Vol 7aMilitary Pay Policy & Procedures - Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 18 Helpful “Tips” For Preparing for the Exam  Block off and dedicate a specific amount of time and a place where you can persistently, consistently, and fervently study (preferably--8 weeks)  First and foremost ---Believe that you will pass---Confidence  Change your way of thinking----Think “Big” ---Think Department of Defense (DOD)  Think “comprehensive” --of large scope; covering or involving all DOD financial management; inclusive: For example, do not think- i.e., the Department of Navy’s way or the Department of Army’s way etc.  Don’t procrastinate---You must commit your time and mind to studying Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 19 Sample “Test” Questions & Answers Module One: Resource Management Environment ABCD 1)There are ____ appropriations bills passed each year C 2)The US Constitution took effect in _____.March 4, 1776March 4, 1778March 4, 1789March 4, 1781 C 3)_______ are the totals included in the budget for budget authority, outlays, and receipts. Budget Authority Totals Commitment TotalsBudget TotalsOutlay Totals C 4)The _____ power shall be vested in a President of the United States of America.ExecutiveJudiciallegislativeAppropriation A 5)If Congress is not adjourned and a bill is not returned by the President in ___ days it____. 10, is considered pocket veto 10, becomes law as if he signed it 10, is returned to the Congress for vote 10, does not become law by Executive privilege B Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 20 Sample “Test” Questions & Answers Module One: Resource Management Environment ABCD A B A B 6)The mission of the ________ is to provide the military forces needed to deter war and to protect the security of our country. Department of Defense (DoD) Department of Transportation (DoT) Department of Navy (DoN) Department of State (DoS) 7)Defense Resource Board program review decisions are recorded in a set of _________ and then signed by the Secretary or the Deputy Secretary of Defense, and distributed to the DoD Components and OMB. They form the basis for the budget submissions. Program Decision Memorandum (PDM) Program Development Memorandum (PDM) Program Objective Memorandum (POM) Program Assessment Decision (PAD) 8)The second step in the enactment process is ________. The passage of this bill allows programs to exist and provides recommended funding levels.spendingauthorizationcommitmentobligation 9)The final document of the planning phase is the _____. This document details defense policy, strategy, force planning, resource planning, and fiscal guidance. Defense Budget Guidance Defense Planing Guidance President's Budget Joint Long Range Strategic Agenda Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 21 Sample “Test” Questions & Answers Module One: Resource Management Environment ABCD D 10)The ________ prescribes rules and procedures under which the President may withhold appropriated funds from obligation. Congressional Budget Act of 1974 Balanced Budget and Emergency Deficit Control Act of 1985 Chapters 13 and 15, 31 USC Impoundment Control Act of 1974 Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 22 Sample “Test” Questions & Answers Module Two: Budget and Cost Analysis ABCD D A C C 1)The Services aggregate their inputs from operational organizations and field activities to develop _______ based on the programs and fiscal guidance contained in the POMs. Program Decision Memorandum Program Budget Decision The Presidents Budget Budget Estimate Submissions 2)The ______ and financial plan for DoD as approved by the Secretary of Defense complies cost and force structure data over a 6-year period for congressional review. 11 years total Fiscal Year Program Defense Program Annual Program Defense Program Future Years Defense Program Budget Estimate Submissions 3)The _______examines the global security situation and develops strategy to achieve national security objectives and sets related force requirements. National Security Strategy National Miltary Strategy Joint Strategic Planning None of the above 4)The goal of the _____ was to achieve economy and enhance productivity. By increasing competition. It is designed to retain government functions in-house and rely on the commercial sector.Circular A-76Circular A-11SF 1-33Circular A-14 Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 23 Sample “Test” Questions & Answers Module Two: Budget and Cost Analysis ABCD A D C B 5)The _____ divides a sample of data in half and selects that number in the "middle" of the sample.MedianModeMeanRange 6)The type of distribution in which data is evenly distributed forming a "bell shaped polygon is called a _________.Skewed curveHistogramNormal CurveProportion 7)_________ enables users to draw inferences or correlations from small group called samples or larger groups called population. Economic analysis Inferential statistics Descriptive statistics Inferential economics 8)Examples of information that can be used to collect, classify and analyze data before applying cost-estimating include all EXCEPT.Audit Reports Technical ManualsSurveys All of these items may be used Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 24 Sample “Test” Questions & Answers Module Two: Budget and Cost Analysis ABCD C D 9)_______ or _______ is defined as an approach to dramatically improve operating effectiveness by redesigning critical business systems, as opposed to incremental improvement. Business Process Improvement, Business Process Regeneration Business Practice Innovation, Business Process Reengineering Business Process Innovation, Business Process Reengineering Base Process Innovation, Base Process Reengineering 10) No later than ____ of each year each agency head will submit to the President and Congress a report on performance for the previous fiscal year.1-Oct1-Jan30-Dec31-Mar Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 25 Sample “Test” Questions & Answers Module Three: Accounting and Finance ABCD B A A 1)The Budgetary accounting equation is ________________. Assets=Liabilities + Net Position Resources = Status of Resources Assets + Liabilities + Owners Equity None of the above 2)The Proprietary Accounting equation is___________. Assets=Liabilities + Net Position Resources = Status of Resources Assets + Liabilities + Expenses Resources = Assets - Net Position 3)The _______ exists to support the Congress in meeting its Constitutional responsibilities and to help improve the performance and accountability of the federal government for the American people. They examine the use of public funds, evaluates federal programs and activities, and provides analyses, options, recommendations, and other assistance to help the Congress make effective oversight, policy, and funding decisions. General Accountability Office DoD IG Defense Finance Accounting Service Congressional Budget Office Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 26 Sample “Test” Questions & Answers ABCD A C B 4)For the first time the _______, required annual audited financial statements for the United States Government. Chief Financial Officers Act of 1990 as amended by the Government Management Reform Act of 1994 Chief Financial Officers Act of 1994 as amended by the Government Management Reform Act of 1995 The Government Management Reform Act of 1990 as amended by the Chief Financial Officers Act of 1994 Budget Execution Act of 1990 as amended by the Government Management Reform Act of )The 3 major functions of Finance are ____________. Communications, contracting, & certification Contracting and disbursement, Collections and control Communications, certification and disbursement and control Collections, certification and payroll 6)The type of audit that determines whether the entity is acquiring and using resources economically and efficiently, within applicable laws and if they are achieving the desired results is called ________.Compliance Audit Performance AuditProgram AuditFinancial Audit Module Three: Accounting and Finance Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 27 Sample “Test” Questions & Answers ABCD A D A 7)Over obligation of an appropriation or funds and obligations or contracts in advance of an appropriation is a violation of_______________.31,USC 1341(a)31,USC ,USC ,USC, Section 10 8)_________ is a(are) the authority provided by Federal law to incur financial obligations that will result in immediate or future outlays.AllocationsAppropriationAuthorizationBudget Authority 9)The rule that states a fiscal year appropriation may be only obligated to meet a legitimate need arising in the fiscal(s) for which the appropriation was made is called the ________________.Bona Fide Need Economy Order RuleRule of 72 None of the above 10)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 R, Financial Management Regulation (FMR) The DoD R, Financial Management Regulation (FMR) C Module Three: Accounting and Finance Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 28 The Eight (8)Week Study Plan  Last Two Days: 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 & Two:  First Two Days: 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: 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 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 29 The Eight (8)Week Study Plan  Saturday & Sunday: Rest  Weeks Three & Four-- Module One (1):  Monday Week # Three (3): Competency One (1), ONLY: 1)Read straight through every page of this competency 2)Take your time and answer each question of the Knowledge Check 3)Go Back and Read, extensively, all the information in the “SQUARE” boxes, ONLY! 4)Read straight through every page of this competency, again 5)Take your time and answer each question of the Knowledge Check, again  Tuesday thru Friday: Competencies Two-Five, 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 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 30 The Eight (8)Week Study Plan  Saturday & Sunday: Rest  Weeks Five & Six-- Module Two (2):  Monday Week # Five (5): Competency One (1), ONLY: 1)Read straight through every page of this competency 2)Take your time and answer each question of the Knowledge Check 3)Go Back and Read, extensively, all the information in the “SQUARE” boxes, ONLY! 4)Read straight through every page of this competency, again 5)Take your time and answer each question of the Knowledge Check, again  Tuesday & Wednesday: Competencies Two & Three, respectively. Thursday & Friday: Fiscal Law Competency: Repeat the five (5) steps listed above for each day and each competency  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 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 31 The Eight (8)Week Study Plan  Saturday & Sunday: Rest  Weeks Seven & Eight-- Module Three (3):  Monday Week # Seven (7): Competency One (1), ONLY: 1)Read straight through every page of this competency 2)Take your time and answer each question of the Knowledge Check 3)Go Back and Read, extensively, all the information in the “SQUARE” boxes, ONLY! 4)Read straight through every page of this competency, again 5)Take your time and answer each question of the Knowledge Check, again  Tuesday & Wednesday: Competencies Two & Three, respectively. Thursday & Friday: Fiscal Law Competency: Repeat the five (5) steps listed above for each day and each competency  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 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 32 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 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 33 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 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 34 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 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 35 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 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 36 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 2010 Orlando, FL

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 37 Closing M: *** Motivation *** O: *** Opportunity *** N: *** Network *** E: *** Education *** Y: *** You *** Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL Will you take this M.O.N.EY ?????

How to Become A Certified Defense Financial Manager (CDFM) in 8 Weeks Slide 38 Phone #: (901) PRIMARY REFERENCE: QUESTIONS Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando, FL