1. Fiscal Policy Reform and Management People’s Republic of China
Ministry of Finance
Policy and Advisory Technical Assistance (PATA)

2. Fiscal Policy Reform and Management
Fiscal Policy Reform and Management Agenda – July 11 – 12, 2014
Speakers
Irvin Faunce: Former Deputy Commissioner, Financial Management Service, Treasury Department
Norman Kanefsky: Current President, GLOWS Corp, Federal Core Accounting System Vendor
Pal Posner: Current Director, George Mason University, School of Public & International Affairs
David Mosso: Former Treasury, Fiscal Assistant Secretary, Chairman, Financial Accounting Standards Advisory Board (FASAB), and Vice Chairman, Financial Accounting Standards Board (FASB)
Charles A. Bowsher: Former Comptroller General of the United States, Government Accountability Office
Glanda Scheiner: Current Director, Human Resources & Management, DoD Comptroller Office
July , 2014
Fiscal Policy Reform and Management

3. Fiscal Policy Reform and Management Agenda – July 11 – 12, 2014
Session
July 11, 2014
Speaker
Topic
Federal Government-wide Accounting, Reporting & Budget Overview
Federal Core Accounting System & Continuing Professional Education (CPE)
George Mason University, Federal Financial Management Master’s Certificate Program
Accrual Accounting GAAP vs. Wealth Measurement Model (WMM)
All Participants Questions & Answers
Morning 9:00AM-12:00PM
Afternoon 1:30PM-5:30PM
July 12, 2014
Morning 9:00AM-1:00PM
Irvin Faunce
Norman Kanefski
Paul Posner
David Mosso
July , 2014
Fiscal Policy Reform and Management

4. Fiscal Policy Reform and Management Agenda – July 11 – 12, 2014
People’s Republic of China Key Point of Meeting
To introduce the key points and most difficult parts at the initial time when American government compiles financial statement.
To introduce the important points among your report.
To introduce the most special prospects we need to pay attention to while implement reform.
July , 2014
Fiscal Policy Reform and Management

5. Fiscal Policy Reform and Management Agenda – July 11 – 12, 2014
Principle Objectives
The previous slide presented the Key Points identified in the June 4, from Ms. Jiac Huang of the Yonyou Government Affairs Software Co. Ltd to be presented at the July 11-12, 2014 meeting with the People Republic of China, Ministry of Finance. In addition to the identified Key Points for discussions, As an introduction, this morning I will be discussing the United States Government Financial Management Organization Structure and an overview of the Federal Financial Management operating proceseses.
July , 2014
Fiscal Policy Reform and Management

6. United States Government Financial Management System
Fiscal Policy Reform and Management Agenda – July 11 – 12, 2014
United States Government Financial Management System
The United States Financial Management System is based on the separation of powers between the Legislative, Executive, and Judicial Branches of Government and specifically Article I, Section 9, Clause 7 of the United State Constitution states:.
Article I, Section 9, Clause 7 of the United States Constitution:
“(7) No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law: and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.”
July , 2014
Fiscal Policy Reform and Management

7. Fiscal Policy Reform and Management Agenda – July 11 – 12, 2014
United States Government Financial Management Organization Structure
Internal Control
Check & Balance
July , 2014
Fiscal Policy Reform and Management

8. Federal Financial Transparency, Accountability, & Integrity United States Government Financial Management Accounting, Reporting, & Budget Operational Structure
Decision Making
Whitehouse
Executive Branch
Congress
Legislative Branch
Congressional Budget Office
Independent Agency
Legislative Branch
Office of Management & Budget
Executive Branch
Government Accountability Office
Independent Agency
Legislative Branch
Transparency
Single Financial Data Repository
Financial Analysis
Public Internet Access
Integrity Financial Literacy Near Term–CPE Training Long Term-Federal Financial Management Institute
Accountability
Independent-Data Act Audit Reporting Financial Reporting Performance Reporting
Treasury Department
Executive Branch
Federal Accounting Standards Advisory Board
Independent Agency
Executive Branch
July , 2014
Fiscal Policy Reform and Management