Term
Disbursement Accounting
FT "L" |
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Definition
| What is being described when Air Force organizations purchase goods or services from commercial vendors or other branches of military? |
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Term
1. Commitments (Comm)
2. Undelivered Orders Outstanding (UOO)
3. Accrued Expenditure Unpaid (AEU)
4. Accrued Expenditures Paid (AEP) |
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Definition
| What are the stages of disbursement accounting? |
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Term
- Administrative reservation of funds
- First stage of disbursement accounting
- intent to occur an obligation
- not legally binding |
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Definition
| Describe the commitment stage of disbursement accounting. |
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Term
| At any time as no action has been taken to obligate the government into the next stage. |
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Definition
| When may an accounting technician de-commit commitment funds in the accounting system? |
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Term
| Legal binding agreement between the government & a contractor or vendor |
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Definition
| Describe an obligation in disbursement accounting. |
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Term
UOO
Undelivered Orders Outstanding |
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Definition
| What stage of disbursement accounting is described when an order has been placed with a vendor or contractor; and the Air Force is now awaiting the delivery of the goods/services? |
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Term
AEU
Accrued Expenditures Unpaid
- also known as the "accounts payable" stage |
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Definition
| What stage of disbursement accounting is described when the required orders have been received but payment has not been made? |
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Term
AEP
Accrued Expenditures Paid |
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Definition
What stage of disbursement accounting is the final obligation stage where a payment is made?
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Term
Reimbursement Accounting
- sales codes assigned to identify each customer |
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Definition
| ________ is the accounting of amounts earned and collected for goods sold or services furnished to authorized customers by the Air Force. |
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Term
1. Unfilled Customer Orders (UFCO)
- customer orders for supplies/services rec'd & accepted
2. Filled Customer Orders-Uncollected (FCOU)
- orders provided to customer collected not rec'd
"A/R Stage"
3. Filled Customer Orders-Collected (FCOC)
-final stage reimb amount rec'd as payment for goods/services provided to customers
"billed reimb (prev est) or direct reimb" (not prev est)
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Definition
| What are the stages of reimbursement accounting? |
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Term
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Definition
| What are reduction of expenses and are processed against the appropriation and fiscal year that the expense was originally recorded? |
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Term
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Definition
| What are amounts earned and collected, or to be collected, for goods or services furnished to the public or to another US Government agency? |
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Term
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Definition
| What is considered a miscellaneous source of revenue that is credited to a US Treasury miscellaneous receipt account? |
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Term
Refund
Examples:
Overpayment
Erroneous Payments
Tuition Assistance |
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Definition
| What is a reduction of expenses and are processed against the appropriation and fiscal year that the expense was originally recorded? |
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