Entry-Level Professional Accountant Program Joe Frischmann DFAS Indianapolis

DFAS Mission 9/17/2018

World-class provider of finance and accounting services Our Vision World-class provider of finance and accounting services Trusted, innovative financial partner Employer of choice, providing progressive and professional work environment One organization, one identity 9/17/2018

Some History on DFAS DFAS was created in 1991 by the Secretary of Defense to reduce the cost of DoD finance and accounting operations and strengthen DoD financial management through consolidation of DoD finance and accounting services. 9/17/2018

Department of Defense Hierarchy 9/17/2018

DFAS Hierarchy 9/17/2018

Business Line Hierarchy Accounting Business Line Director Navy Air Force Marine Corps Army Client Executive Client Executive Client Executive Client Executive OSD Defense Agencies Client Executive Client Executive 9/17/2018

How DFAS Does Business Administration DFAS Customers Congress appropriates funds to DoD NOTE: None SLIDE CATEGORY: Corporate Slide RECOMMENDED TIME: 2-3 minutes KEY POINTS: DFAS is part of the DoD and Federal Government. “Competition and accountability” are a good thing. In the past, Government agencies were funded by Appropriated Funds issued by Congress Now, Working Capital Fund (WCF) operations. WCF is similar to free enterprise where customer pay for services. Customers have limited funds and are looking for best value; therefore, Government needs a method for creating competition. Our process for competitive sourcing is called A76. All Government have been directed to look at their business and identify those areas that can be competed. In DFAS, 82% could be performed by non-government organizations. Overtime, all areas will be competed. Private industry wants DFAS’ role so we must be competitive. Best Value wins - Sometimes Govt. wins, sometimes contractor wins. Why is this important - every dollar saved by DFAS is a dollar that can be used to better equip our Warfighters. FORMAL SCRIPT: As you are well aware, DFAS is a part of the DoD and the larger Federal Government. Each of us from the President, to the Congress, down to us as individual taxpayers want - actually insist - that our Federal Government work effectively and efficiently while being accountable for how it spends our money. In the past, Government agencies were funded by Appropriated Funds issued by Congress. However, in recent times, some have transitioned to be funded by a mechanism called a Working Capital Fund operation. WCF for short. WCF operations, like DFAS, must earn their revenue via payments directly from their customers as is typically done in free enterprise. Our customers have limited funds and other resources and are actively searching for best value when acquiring goods and services. Every extra dollar our customer spends on DFAS to process finance & accounting transactions is a dollar that is taken away from their primary job, to defend America. In order to provide the best value, the Government needs a way to evaluate its competitiveness. The Federal Government’s method of competitive sourcing is known as A76. The entire Federal Government has been directed to review its business and to identify those areas that can be competed. Following this review, it was determined that in DFAS, 82% of our function could be performed by non-government organizations. As a result, most areas will be competed and private industry wants your job. When organizations compete, Best Value wins. This is also important because every dollar saved by DFAS is a dollar that can be used to better equip our Warfighters. Our customers want best value services The administration wants competition and accountability in all government operations We provide services to customers Customers pay for our services Every dollar saved by DFAS is a dollar that can be used to better equip our warfighters DFAS Since our creation, we have operated as a Working Capital Fund 9/17/2018 N0009_T01_V02_D18_M12_Y02

World’s largest finance and accounting operation - 16,000 employees DFAS is Big Business World’s largest finance and accounting operation - 16,000 employees Service 5.7 million military members, military retirees and annuitants, and DoD civilians Manage 267 active DoD Appropriations worth $517B Manage a $176B Retirement Trust Fund $346.6 billion in disbursements annually Process 11.2 million commercial invoices 7.3 million travel payments and settlements 124 million accounting transactions annually 9/17/2018

DFAS Sites Limestone Rome Cleveland Columbus Indianapolis Headquarters Rock Island Omaha Columbus Indianapolis Headquarters Oakland Denver Dayton Kansas City Seaside St Louis Lexington Norfolk San Bernardino Lawton Charleston San Diego Minor Sites Orlando Honolulu San Antonio Pensacola Major Sites DFAS HQ Europe Japan 9/17/2018

Accounting Responsibilities Prepare financial statements Define accounting requirements Provide accounting and financial advice Perform disbursing (paying and collecting) activities Perform cash reporting Perform funds control/budgetary accounting Perform property/plant/equipment accounting Perform payroll accounting Perform cost accounting Maintain and administer accounting systems Maintain general ledger Maintain accounts receivable Maintain accounts payable Record inventory values Perform reconciliations Perform data integrity analysis Develop, produce, and analyze accounting reports 9/17/2018 23

Government vs. Public/Private Business OBJECTIVES Acquiring and spending resources legally and appropriately Seeking to increase or even maintain capital CONTROLS Use of statutory, fund and budgetary controls Presence of supply, demand and profit devices Government Businesses 9/17/2018

Comparison Matrix 9/17/2018

Entry-Level Professional Accountant Typical Professional Career Path Approximately 80% of the workforce are at the professional or journey levels. Salary structures are based on grade, length of time in a grade, and location. Employees become qualified for higher level positions through a combination of education, training, and experience. Executive Management Professional Journey Entry 9/17/2018

Candidate Requirements Completion of Bachelor’s Degree in Accounting or business-related degree with 24 semester credit hours of accounting coursework Targeting candidates with evidence of strong academic achievement Demonstrated record for success Strong leadership potential Professional demeanor Interpersonal skills Match our Core Values Integrity, Innovation, Service 9/17/2018

Professional development Flexible work schedules What’s in it for you? Valuable experience Competitive salary Career opportunities Professional development Flexible work schedules Comprehensive benefits: Health and life insurance 401k with matching funds Ten paid holidays Paid sick days Contribute to accomplishing an important mission… perform interesting work in interesting times Evaluate the federal government and DoD as a potential employer after graduation Flexible starting and ending dates for internships (ABL) Salary: GS-4 ($11.11); GS-5 ($12.43) 9/17/2018

Three-Year ELPA Program Years One and Two Four six-month rotations (examples) Disbursing Systems Accounting Internal Review Year Three On-the-job training Two (or more) short rotations with other business lines (e.g., vendor, travel, or military pay) Ongoing throughout program Classes Special projects Site/customer visit Leadership/networking conferences Meetings with senior managers Professional association luncheons Topical briefings 9/17/2018

Professional Associations AGA Association of Government Accountants Mission: To serve professionals in the government financial management community by providing quality education, fostering professional development and certification and supporting standards and research to advance government accountability. ASMC American Society of Military Comptrollers Mission: To promote education, training and professional development in all aspects of military comptrollership. Also: B.I.G., N.A.F.E./W.I.N., and more. 9/17/2018

Professional Associations Benefits include: Networking Staying current on your profession’s topics Practice leadership in non-threatening environment Professional development National PDCs (from which you can earn CPEs) You decide on your % of participation Early career minimal costs A great way to guide your career with assistance from experienced leaders. 9/17/2018

Opportunities for You Internships Work with experienced accountants Group research project with final briefing and recommendations Topical briefings by senior managers Networking opportunities, initiative-based projects, training opportunities, social activities In the next five years, a large percentage of the workforce is eligible for early or regular retirement. 9/17/2018

DFAS Developmental Programs’ Awards 2002 - Indiana Internnet (State’s largest intern source) awarded DFAS an Award of Excellence (2nd tier award) for its first summer intern program 2003 - Indiana Internnet awarded DFAS the Best of the Best Award (top award) for its second summer intern program 2003 - Association of Government Accountants (AGA) awarded DFAS the AGA Educator of the Year for its Developmental Programs which included: Entry Level Professional Accountant Program Developmental Professional Accountant Program. College Intern Program 9/17/2018

Maybe we don’t get thanked everyday, but . . . …but we are committed to providing world-class service at a reduced cost to the military members and their families. 9/17/2018

Your Financial Partner @ Work DFAS Your Financial Partner @ Work WWW.DFAS.MIL