GFEBS L230E: Cost Management
Process Overview Course Assessment
Already Graded A+
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. - Answer 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. - Answer 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. - Answer COST PLANNING
Cost Management in GFEBS consists of Cost Accounting, Cost Planning, Cost
Controlling, Cost Analysis, and Cost Testing. - Answer FALSE
Assignments, rather than Allocations, should be utilized where possible unless the
quantities of products and services cannot be tracked or are cost prohibitive -
Answer 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. - Answer Activity type
Knowing your obligations is the same as knowing your costs. - Answer FALSE
_______ is predicting future dollars, quantities, and outputs, based on expected
requirements and/or workload. - Answer Forecasting
The Actual Cost Line Item Report and the Cost by Report are both ECC reports -
Answer FALSE
The following reports are all examples of ECC reports: Cost By Report, Unit Cost
Report, Detailed Labor Cost Report, and Payroll Audit Report. - Answer FALSE
GFEBS will only provide standard reports. - Answer 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. - Answer 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. - Answer True
A (an)________________ is a unit of measure, including quantity or time, by which
costs are reported. For example, number of people (headcount) served by a dining
facility. - Answer
Process Overview Course Assessment
Already Graded A+
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. - Answer 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. - Answer 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. - Answer COST PLANNING
Cost Management in GFEBS consists of Cost Accounting, Cost Planning, Cost
Controlling, Cost Analysis, and Cost Testing. - Answer FALSE
Assignments, rather than Allocations, should be utilized where possible unless the
quantities of products and services cannot be tracked or are cost prohibitive -
Answer 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. - Answer Activity type
Knowing your obligations is the same as knowing your costs. - Answer FALSE
_______ is predicting future dollars, quantities, and outputs, based on expected
requirements and/or workload. - Answer Forecasting
The Actual Cost Line Item Report and the Cost by Report are both ECC reports -
Answer FALSE
The following reports are all examples of ECC reports: Cost By Report, Unit Cost
Report, Detailed Labor Cost Report, and Payroll Audit Report. - Answer FALSE
GFEBS will only provide standard reports. - Answer 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. - Answer 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. - Answer True
A (an)________________ is a unit of measure, including quantity or time, by which
costs are reported. For example, number of people (headcount) served by a dining
facility. - Answer
