GFEBS L230E: Cost Management Process
Overview Course Assessment 100% correct!!
A Business Process is a unit of the organization from a costing perspective and is used to
collect costs. Business Processes are used to track and manage costs for responsibility
segments of the Army. - -FALSE
-_____________ allows the manager to plot out the costs expected to be incurred
during the coming year as they work to accomplish their assigned mission and provide
goods and services to their customers. - -Cost planning
-is where managers and leaders, using the results of their cost analysis as decision
support, implement those changes and enhancements that ultimately move us towards a
more efficient Army. - -COST PLANNING
-Cost Management in GFEBS consists of Cost Accounting, Cost Planning, Cost
Controlling, Cost Analysis, and Cost Testing. - -FALSE
-Assignments, rather than Allocations, should be utilized where possible unless the
quantities of products and services cannot be tracked or are cost prohibitive - -TRUE
-__________ is cost master data that represents a group of resources within a Cost
Center. These resource groups have capacity and a unit of measure such as: labor hours,
machine hours, square footage, etc. - -Activity type
-Knowing your obligations is the same as knowing your costs. - -FALSE
-_______ is predicting future dollars, quantities, and outputs, based on expected
requirements and/or workload. - -Forecasting
-The Actual Cost Line Item Report and the Cost by Report are both ECC reports - -
FALSE
-The following reports are all examples of ECC reports: Cost By Report, Unit Cost
Report, Detailed Labor Cost Report, and Payroll Audit Report. - -FALSE
-GFEBS will only provide standard reports. - -False
-__________ is where managers and leaders, using the results of their cost analysis
as decision support, implement those changes and enhancements that ultimately move
us towards a more efficient Army. - -Cost controlling
-ECC reporting is modular and provides data in real-time, whereas BI reporting allows
for cross-modular reports using near real-time data. - -True
Overview Course Assessment 100% correct!!
A Business Process is a unit of the organization from a costing perspective and is used to
collect costs. Business Processes are used to track and manage costs for responsibility
segments of the Army. - -FALSE
-_____________ allows the manager to plot out the costs expected to be incurred
during the coming year as they work to accomplish their assigned mission and provide
goods and services to their customers. - -Cost planning
-is where managers and leaders, using the results of their cost analysis as decision
support, implement those changes and enhancements that ultimately move us towards a
more efficient Army. - -COST PLANNING
-Cost Management in GFEBS consists of Cost Accounting, Cost Planning, Cost
Controlling, Cost Analysis, and Cost Testing. - -FALSE
-Assignments, rather than Allocations, should be utilized where possible unless the
quantities of products and services cannot be tracked or are cost prohibitive - -TRUE
-__________ is cost master data that represents a group of resources within a Cost
Center. These resource groups have capacity and a unit of measure such as: labor hours,
machine hours, square footage, etc. - -Activity type
-Knowing your obligations is the same as knowing your costs. - -FALSE
-_______ is predicting future dollars, quantities, and outputs, based on expected
requirements and/or workload. - -Forecasting
-The Actual Cost Line Item Report and the Cost by Report are both ECC reports - -
FALSE
-The following reports are all examples of ECC reports: Cost By Report, Unit Cost
Report, Detailed Labor Cost Report, and Payroll Audit Report. - -FALSE
-GFEBS will only provide standard reports. - -False
-__________ is where managers and leaders, using the results of their cost analysis
as decision support, implement those changes and enhancements that ultimately move
us towards a more efficient Army. - -Cost controlling
-ECC reporting is modular and provides data in real-time, whereas BI reporting allows
for cross-modular reports using near real-time data. - -True
