Core financial system requirements
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Core financial system requirements checklist for reviewing systems under the Federal Financial Management Improvement Act

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Published by U.S. General Accounting Office in [Washington, D.C.] .
Written in English


  • Finance, Public -- Accounting -- Standards -- United States,
  • Finance, Public -- United States -- Data processing,
  • Management information systems -- United States -- Accounting,
  • Management information systems -- Standards -- United States

Book details:

Edition Notes

Other titlesChecklist for reviewing systems under the Federal Financial Management Improvement Act
StatementUnited States General Accounting Office
SeriesFinancial management series
The Physical Object
Pagination[1], 65 p.
Number of Pages65
ID Numbers
Open LibraryOL15305925M

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The 3rd update to the Core Financial System Require. document, first issued Jan. by the Joint Financial Mgmt. Improve. Program, a joint & cooperative undertaking of several Federal government agencies to improve financial management practices in government. This update reflects changes in laws & reg's., such as the Debt Collection Improvement Act, & also adds requirements for two. Note: Citations are based on reference standards. However, formatting rules can vary widely between applications and fields of interest or study. The specific requirements or preferences of your reviewing publisher, classroom teacher, institution or organization should be applied. Our mission is to use our experience and knowledge to deliver tangible business results, enabling our clients to profit from the use of our financial system solutions. We strive to build long-term client relationships based on mutual trust and respect. VA’s financial management system shall facilitate the preparation, execution, and reporting of its budget in accordance with the requirements of OMB Circular A, Preparation and Submission of Budget Estimates, and other circulars and bulletins issued by OMB. H. Functional Requirements. VA’s financial management system shall conform to.

The next chapters in this document set forth the framework for the establishment and maintenance of an integrated Federal financial management system. An overview of the Core financial system, including a summary of functions and technical requirements is provided in the System Overview chapter. This guide provides a synopsis of Federal requirements for financial management systems. It was prepared by Defense Finance and Accounting Service (DFAS). The guide represents a comprehensive compilation of financial management systems requirements mandated by the Federal Financial Management Improvement Act of Requirements. Within this document, mandatory Core financial system requirements are indicated by the word “must” and value-added system requirements are identified by the words “may” or “should.” Management Controls Core financial systems must operate with appropriate management controls to ensure the. whole an identified agency performance gap: This investment maintains and enhances the SEC’s Core Financial System (CFS), enabling significant improvements in financial management. It provides for the SEC’s core financial system to include the following software applications: MOMENTUM Financials, Strategic Acquisition.

The purpose of the Financial Management Handbook (Handbook) is to present the Department of Energy’s (DOE’s) standards, procedures, and operational requirements in support of the accounting policies, principles, and applicable legal requirements contained in DOE Order B. Feb 01,  · This publications supersedes AIMD, Core Financial System Requirements: Checklist for Reviewing Systems Under the Federal Financial Management Improvement Act, February The Federal Financial Management Improvement Act of (FFMIA) requires, among other things, that agencies implement and maintain financial management systems that substantially . The Joint Financial Management Improvement Program presented information on core financial systems requirements to facilitate federal agencies development and implementation of improved and integrated financial management systems. Regulation of the Financial System • To increase the information available to investors: Reduce adverse selection and moral hazard problems Reduce insider trading • To ensure the soundness of financial intermediaries: Restrictions on entry Disclosure Restrictions on Assets and Activities Deposit Insurance Limits on Competition.