Term
| - exercise where a base partners with DFAS & the contracting office to simulate EOY processing that is normally accomplished on 30 Sep |
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Definition
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Term
| - 5 or more days before the actual closeout (30 Sep) |
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Definition
| When does a soft closeout occur? |
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Term
| - all open commitments will be closed & obligations posted with the exceptions of the GPC, supply system interfaces |
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Definition
| During the implementation of a soft closeout, what is the goal? |
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Term
- after-the-fact (generally about 2 months later)
- when all the estimates are processed from GAFS & the final bills are paid |
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Definition
| When is the success of a fiscal year closeout measured? |
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Term
- review the past year & highlight both the good & bad examples of financial management practices via a lessons learned review .
Good - serves as an examples for others
Bad - valuable lessons learned to ensure that the same mistakes are not repeated. |
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Definition
After the closeout has been completed, what type of review should be conducted? |
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