GFEBS L410E Introduction to Financials Accurate 100%.

What is a reason code -ANSWER A numerical code that corresponds to the valid reasons for posting a JV Which organization serves as the Army's central bank -ANSWER U.S. Treasury Which of the following is/are source system(s) that use legacy Lines of Accounting (LOA) data that are converted into GFEBS Line of Accounting data? -ANSWER Both: STANFINS and SOMARDS are both source systems that use legacy Lines of Accounting (LOA) data that are converted into GFEBS Line of Accounting data Which Trial Balance is sent via interface to the DDRS? -ANSWER The Trial Balance w/defense reporting elements Which of the following is responsible for generating the Army's external financial statements and reports at the end of each period based on the trial balance it receives via interface from GFEBS? -ANSWER The Financial Reviewer Defense Departmental Reporting System (DDRS) Which of the following is the sub-process that takes data posted to the General Ledger and stores it in a way that allows management to analyze costs from -ANSWER Cost Management (CM) takes financial data posted to the General Ledger and stores it in a way that makes it useful for management. CM facilitates internal management accounting functions, whereas the FI module is more concerned with recording financial data for external reporting purposes Which role logs into GFEBS to create or change a General Ledger Account? -ANSWER The General Ledger Master Data Maintainer creates or changes a G/L account within GFEBS after the General Ledger Master Data Approver approves the request. The Year-End Close process closes the books, clears outstanding items, returns unused appropriations to the Treasury, and provides the data necessary for future budgeting and appropriation purposes. -ANSWER True: The Year-End Close process does close the books, clear outstanding items, return unused appropriations to the Treasury and provide the data necessary for future budgeting and appropriation purposes. The business rules for executing the Year-End Close tasks are passed down from Headquarters, Department of the Army (HQDA). These business rules include policies and cut-off dates. DFAS coordinates the schedule of external system cutoffs w