1. Introduction to General Fund Enterprise Business System (GFEBS) Financials1

2. Terminal Learning Objective
Action:
Conditions:
Standards:
Communicate the Financials Process
In a classroom environment using doctrinal and administrative publications, practical exercises, personal experience, handouts, discussion and access to GFEBS
With a minimum of 80% accuracy, confirm the processes and capabilities within GFEBS Financials 2

3. Introduction to the Financials Process
Financial Management is the art and science of recording, classifying, summarizing, and reporting the financial transactions of an organization. It focuses on measuring and recording all activities that have a financial impact on the organization.
Financial Management provides a historical record of actual financial results and serves as the basis for future financial decisions for budgeting, allocation of resources, and procurement. 3

4. GFEBS Financials Objectives
Funds Management
Spending Chain
Project Systems
Reimbursable
Intermediate Documents (IDOCs)
Reports Business Intelligent (BI)/ERP Central Component (ECC)
Period/Year-End Close 4

5. Key Financials Terms General Ledger (G/L) Journal Voucher (JV)
Period End Close
Year End Close
Standard Financial Information Structure (SFIS)
Defense Departmental Reporting System (DDRS) 5

6. GFEBS Capabilities GFEBS General Ledger
Backbone of the Army’s accounting system
Records all Army financial transactions
Automated, web-based, real-time 6

7. GFEBS Capabilities (Cont.)
The FI process area in GFEBS
Manages the Army’s General Fund General Ledger (G/L) by:
Maintaining G/L accounts
Processing journal vouchers
Executing Period End Close
Executing Year End Close
Reconciling Army cash transactions with the U.S. Treasury
Reports the financial status of the Army to the Department of Defense and the U.S. Treasury 7

8. GFEBS Capabilities (Cont.)
Everything that happens in GFEBS with a financial impact is reflected in the FI, Cost Management, and Funds Management (FM) business process areas. 8

9. GFEBS Capabilities (Cont.)
GFEBS interacts with and, in some cases, relies on, the
following organizations:
United States Congress
Office of Management and Budget (OMB)
General Accountability Office (GAO)
United States Treasury 9

10. GFEBS Capabilities (Cont.)
GFEBS interacts with and, in some cases, relies on,
the following organizations:
Defense Finance and Accounting Service (DFAS)
The Office of the Secretary of Defense (OSD)
Headquarters, Department of the Army (HQDA)
Deputy Assistant Secretary of the Army - Financial Operations (DASA-FO) 10

11. LSA #1 Check on Learning
Q: What are two of the three functional areas discussed in this lesson?
Q: What is Financial Management? 11

12. LSA #1 Summary 12

14. TLO Summary Action: Communicate the Financials Process Conditions:
Standards:
Communicate the Financials Process
In a classroom environment using doctrinal and administrative publications, practical exercises, personal experience, handouts, discussion and access to GFEBS
With a minimum of 80% accuracy, confirm the processes and capabilities within GFEBS Financials 14