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Financial Management Compendium AcqNotes Com Form
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People also ask
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What is a line of accounting in DTS?
A DTS line of accounting (LOA), when tied to a funding source (a funded budget) is the means through which expenses in a travel document are paid.
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What is the DoD standard chart of accounts?
The Chart of Accounts provides the basic structure for the U.S. Standard General Ledger (USSGL). It incorporates both proprietary and budgetary accounts. The proprietary and budgetary sets of general ledger accounts are self-balancing (total debits equal total credits).
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What are the two exceptions to the full funding policy?
Two major exceptions to the full funding policy as it applies to Procurement appropriations are advance procurement and multiyear procurement.
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What type of business is the Department of Defense?
The Department of Defense is America's largest government agency. With our military tracing its roots back to pre-Revolutionary times, the department has grown and evolved with our nation. Our mission is to provide the military forces needed to deter war and ensure our nation's security.
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What is the DoD financial management regulation?
The DoD FMR is a critical regulation and guidance document for financial management and other acquisition personnel involved with managing or executing DoD's resources. The DoD FMR is owned/managed by the DoD Office of the Under Secretary of Defense (Comptroller).
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What is the DoD standard line of accounting?
DoD Standard Line of Accounting (SLOA) is used to identify the funding source associated with an organization's budget and to ensure accurate accounting transactions. SLOA elements are a subset of SFIS elements. The Standard Line of Accounting is comprised of 26 data elements from the 70 data elements in SFIS.
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What is the line of accounting for the Department of Defense?
Answer. A Line of Accounting or LOA is the funding associated with a valid DoD debt. It is necessary for Debt and Claims to have this information to tie the collections of the debt needing established to the fund in which the debt incurred.
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What is the full funding policy of the DoD?
The full funding policy is a federal budgeting rule imposed on the Department of Defense (DOD) by Congress in the 1950s that requires the entire procurement cost of a weapon or piece of military equipment to be funded in the year in which the item is procured.
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