The Defense Departmental Reporting System (DDRS) takes the GFEBS Trial Balance and produces the official DoD Financial Statement
True
The DDRS
... [Show More] Outbound Trial Balance includes Defense Reporting elements
true
The Business Enterprise Information System (BEIS)
Is an organization in DoD that delivers enterprise business services to enable effective financial management throughout DoD
The Abnormal Balance Report can be run
all of the above
Which of the following statements concerning the Federal Agencies' Centralized Trial-Balance System (FACTS) is true
It collects proprietary USSGL account balance information that is used to produce the government-wide consolidated financial statement
GFEBS formats its Trial Balance according to the Government-wide Financial Reporting System (GFRS) requirements so that the DoD does not need to restructure data to make it GFRS compatible
true
Which of the following are Line Item Reports used by GFEBS Financials
all of the above
Which of the following statements concerning the Government-wide Financial Reporting System (GFRS) is false
GFRS receives the Trial Balance sent by GFEBS and prepares the Army's external Financial Statements based on the GFEBS Trial Balance.
Which of the following statements concerning Federal Agencies' Centralized Trial-Balance System (FACTS) II is false
FACTS II collects proprietary USSGL account balance information that is used to produce the government-wide consolidated financial statement
GFEBS complies with Standard Financial Information Structure (SFIS) standards by
Linking each GFEBS point account to the appropriate SFIS attribute and DoD reporting Chart of Account number
The Standard Financial Information Structure (SFIS) is a standard for categorizing financial information to support financial management and reporting systems with consistency across the DoD.
true
The purpose of GFEBS Financial Reporting is to
all of the above
At the end of each period, GFEBS sends its Trial Balance to the Defense Departmental Reporting System (DDRS) which requires GFEBS to
Format its Trial Balance according to SFIS standards
Line Item Reports can be run to show items that are
all of the above
The Federal Transaction Register Report is used to
Review debit and credit budgetary postings
Internal reports used by business process areas in GFEBS include
all of the above
GFEBS creates the Army's actual external financial statements
false
One of the benefits of Financial Reporting in GFEBS is that it allows you to run reports at any time
true
Which of the following statements about the TROR is false?
*The information contained in the TROR is not available to the public.
-The information contained in the TROR report is sent to Congress, the OMB, the Agency of Chief Financial Officers, and to other officials and representatives of Federal and State organizations
Which report is required by the U.S. Treasury from U.S. Government Agencies to provide a status of debt due from the public?
-Treasury Report on Receivables (TROR
-None of the above
The G/L Account Balances report is
all of the above
Benefits of Financial Reporting in GFEBS include
all of the above
In GFEBS, the Trial Balance at the Full Account level includes
Both SGL and Point accounts combined into the GFEBS GL Account numbers [Show Less]