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United States Government Accountability Office Washington, DC 20548June 26, 2012 The Honorable Carl Kevin Chairman The Honorable John McCain Ranking Member Committee on Armed Services United States
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Subject DoD Financial Management refers to the principles, practices, and processes involved in managing the financial resources of the Department of Defense (DoD). It encompasses budgeting, accounting, financial reporting, and analysis to support decision-making within the DoD.
All entities within the DoD, including service branches, agencies, and offices, are required to participate in subject DoD Financial Management by following the prescribed financial policies and procedures.
Filling out subject DoD Financial Management involves adhering to the established financial management policies, procedures, and reporting requirements set forth by the DoD. These include accurately recording financial transactions, maintaining proper documentation, and preparing required financial reports.
The purpose of subject DoD Financial Management is to ensure efficient and effective use of financial resources within the Department of Defense. It aims to provide accurate financial information, promote accountability, and support decision-making for budgeting, acquisitions, and other strategic initiatives.
Subject DoD Financial Management requires the reporting of various financial information, such as budget allocations, expenditures, investments, assets, liabilities, and financial performance metrics. It may also include reporting on specific programs, projects, or activities as per the DoD's reporting requirements.
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