Toney Williams, CDFM, CFE

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Toney Williams, CDFM, CFE
EMAIL anthony.williams_at_navy.mil Phone (901)
874-4336 PRIMARY REFERENCE http//www.asmconline.
org
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AGENDA

• Brief Overview of The Three (3) CDFM Modules
• Helpful Mental Tips For Preparing for the Exam
• Sample Test Questions and Answers
• The Eight (8) Week Study Plan
• Motivational Closing

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module One Resource Management Environment
• Competency One The Government Resource
  Management Environment (about 15)
• Competency Two The Defense Resource Management
  Environment (about 35)
• Competency Three Manpower Management (about
  10)
• Competency Four Personnel Management (about
  15)
• Competency Five Management and Internal
  Controls (about 10)
  Fiscal Law Competency
  Located in All Modules (about 15, 10, 15,
  respectively)

• Module Two Budget and Cost Analysis
• Competency One Planning, Programming, Budgeting
  Execution (about 60)
• Competency Two Cost and Economic Analysis
  (about 20)
• Competency Three Business Management Process
  Improvement (about 10)

• Module Three Accounting and Finance
• Competency One Finance (about 35)
• Competency Two Accounting (about 35)
• Competency Three Auditing (about 15)

Note, There are CHANGES to the
Competencies listed above. You will have to
visit the ASMC website (www.asmconline.org) for
the updates as required
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module One Resource Management Environment

• Competency One The Government Resource
  Management Environment (about 15)

• This area deals with the financial manager's
  knowledge of the government-wide processes
  involved in obtaining resources necessary to
  perform your organization's mission.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module One Resource Management Environment

• Competency Two The Defense Resource Management
  Environment (about 35)

• This area deals with the role, size and impact of
  the Department of Defense (DoD) in the Federal
  government, national security (defense) strategic
  planning process. This includes the Defense
  Planning Guidance, National Military Strategy,
  Quadrennial Defense Review, the Unified Command
  Plan, and role of the Commanders in Chief (CinCs)
  and the inter-relationship of key Departmental
  managers to the resource management process.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module One Resource Management Environment

• Competency Three Manpower Management (about
  10)

• This area deals with the financial manager's
  knowledge of personnel policies as they relate to
  resource management, manpower rules, regulations,
  laws, and development of manpower requirements.
  Manpower management, as referred to in financial
  management, refers primarily to processes used in
  estimating manpower requirements for budgetary
  purposes, tracking manpower and reporting
  manpower in a standard manner as required in OMB
  guidance.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module One Resource Management Environment

• Competency Four Personnel Management (about 15)

• This area deals with personnel management
  principles and practices including problem
  recognition and problem solving, generally
  accepted organization principles and practices -
  to include organizations as systems and personnel
  principles, practices, laws and regulations.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module One Resource Management Environment

• Competency Five Management and Internal
  Controls (about 10)

• This area deals with the financial manager's
  knowledge of the Federal Manager's Financial
  Integrity Act of 1982, Comptroller General
  Standards for internal controls in the Federal
  Government and applicable Federal Government and
  DoD management control guidance and regulations.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Fiscal Law Competency (about 15)

• This key area deals with the financial manager's
  knowledge of the law regarding availability of
  appropriations as to purpose, time and amount,
  applicable Comptroller General decisions, special
  purpose laws (Credit Reform, Foreign Assistance,
  Arms Export Control Acts), penalties and
  sanctions applicable under law, Anti-Deficiency
  Act (as applied to appropriations limitation),
  allotment or project executions, authorization
  and appropriation acts including their
  inter-relationship and respective roles,
  reporting and notification requirements.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module Two Budget and Cost Analysis

• Competency One Planning, Programming, Budgeting
  Execution (about 60)

This area deals with the financial manager's
knowledge of the DoD Planning, Programming,
Budget and Execution system (PPBE) (process,
terminology and products), DoD budget
formulation, review and execution, OMB circulars
and implementing DoD guidance, relationships
among and use of appropriations and funds, stages
of funds execution, reimbursable and support
agreements, flow of funds and the DoD programming
process, terminology and products.
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module Two Budget and Cost Analysis

• Competency Two Cost and Economic Analysis
  (about 20)

This area deals with the financial manager's
knowledge of mathematical and statistical
methods, cost estimating techniques, benefit
analysis (including payback, return on investment
and present value), system acquisition and life
cycle management policies, including analysis of
hardware.
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module Two Budget and Cost Analysis

• Competency Three Business Management Process
  Improvement (about 10)

This area deals with the financial manager's
knowledge of concepts of business process
reengineering, special authority to use receipts,
Government Performance and Results Act of 1994
and directives and regulations related to
performance of commercial activities.
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Fiscal Law Competency (about 10)

• This key area deals with the financial manager's
  knowledge of the law regarding availability of
  appropriations as to purpose, time and amount,
  applicable Comptroller General decisions, special
  purpose laws (Credit Reform, Foreign Assistance,
  Arms Export Control Acts), penalties and
  sanctions applicable under law, Anti-Deficiency
  Act (as applied to appropriations limitation),
  allotment or project executions, authorization
  and appropriation acts including their
  inter-relationship and respective roles,
  reporting and notification requirements.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module Three Accounting and Finance

• Competency One Finance (about 35)

This area deals with the financial manager's
knowledge of basic rules covering military and
civilian pay, travel entitlements, contract pay,
disbursing and debt management, communication
techniques (customer relations) and internal
controls in finance organizations.
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module Three Accounting and Finance

• Competency Two Accounting (about 35)

This key area deals with the financial manager's
knowledge of cost accounting procedures designed
to capture total cost, generally accepted
accounting principles.
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Module Three Accounting and Finance

• Competency Three Auditing (about 15)

This area deals with the financial manager's
knowledge of Comptroller General Standards (GAO
Yellow Book), Federal Generally Accepted
Accounting Principles, DoD policies and
procedures, documentation requirements, reporting
requirements, audit program development criteria,
frequency of review criteria and requirements and
constraints on services other than audits.
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Three (3) CDFM Exam Modules

• Fiscal Law Competency (about 15)

• This key area deals with the financial manager's
  knowledge of the law regarding availability of
  appropriations as to purpose, time and amount,
  applicable Comptroller General decisions, special
  purpose laws (Credit Reform, Foreign Assistance,
  Arms Export Control Acts), penalties and
  sanctions applicable under law, Anti-Deficiency
  Act (as applied to appropriations limitation),
  allotment or project executions, authorization
  and appropriation acts including their
  inter-relationship and respective roles,
  reporting and notification requirements.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Helpful Tips For Preparing for the Exam

• First and foremost ---Believe that you will
  pass---Confidence

• Change your way of thinking----Think Big
  ---Think Department of Defense (DOD)

• Think comprehensive --of large scope covering
  or involving all DOD financial management
  inclusive For example, do not think-i.e., the
  Department of Navys way or the Department of
  Armys way etc.

• Dont procrastinate---You must commit your time
  and mind to studying

• Block off and dedicate a specific amount of time
  and a place where you can persistently,
  consistently, and fervently study (preferably--8
  weeks)

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Sample Test Questions Answers
Module One Resource Management Environment
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Sample Test Questions Answers
Module One Resource Management Environment
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Sample Test Questions Answers
Module One Resource Management Environment
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Sample Test Questions Answers
Module Two Budget and Cost Analysis
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Sample Test Questions Answers
Module Two Budget and Cost Analysis
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Sample Test Questions Answers
Module Two Budget and Cost Analysis
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Sample Test Questions Answers
Module Three Accounting and Finance
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Sample Test Questions Answers
Module Three Accounting and Finance
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Sample Test Questions Answers
Module Three Accounting and Finance
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Eight (8)Week Study Plan

• Weeks One Two
• First Two Days Read The American Society of
  Military Comptrollers (ASMC) Reference Guide
  (July 2000_updated January 2004).
• Read it straight through like a book/novel. You
  are reading for comprehension---not
  technical--not to research or reference

• Second Ten Days Read The Enhanced Defense
  Financial Management Training Course (EDFMTC)
  textbook
• Read it straight through like a book/novel. You
  are reading for comprehension---not
  technical--not to research or reference

• Last Two Days Rest and take in all that you have
  read on an inclusive level. That is, continue to
  digest the Big picture of DOD from your reading.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Eight (8)Week Study Plan

• Weeks Three Four-- Module One (1)
• Monday Week Three (3) Competency One (1),
  ONLY
• Read straight through every page of this
  competency
• Take your time and answer each question of the
  Knowledge Check
• Go Back and Read, extensively, all the
  information in the SQUARE boxes, ONLY!
• Read straight through every page of this
  competency, again
• Take your time and answer each question of the
  Knowledge Check, again

• Tuesday thru Friday Competencies Two-Five, ONLY
  Repeat the five (5) steps listed above

• Saturday Sunday Rest

• Repeat the process above for week Four (4)
  with the exception of Saturday Saturday you take
  Module One Exam. Sunday you rest!

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Eight (8)Week Study Plan

• Weeks Five Six-- Module Two (2)
• Monday Week Five (5) Competency One (1), ONLY
  
• Read straight through every page of this
  competency
• Take your time and answer each question of the
  Knowledge Check
• Go Back and Read, extensively, all the
  information in the SQUARE boxes, ONLY!
• Read straight through every page of this
  competency, again
• Take your time and answer each question of the
  Knowledge Check, again

• Tuesday Wednesday Competencies Two Three,
  respectively. Thursday Friday Fiscal Law
  Competency Repeat the five (5) steps listed
  above for each day and each competency

• Saturday Sunday Rest

• Repeat the process above for week Six (6) with
  the exception of Saturday Saturday you take
  Module Two Exam. Sunday you rest

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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The Eight (8)Week Study Plan

• Weeks Seven Eight-- Module Three (3)
• Monday Week Seven (7) Competency One (1),
  ONLY
• Read straight through every page of this
  competency
• Take your time and answer each question of the
  Knowledge Check
• Go Back and Read, extensively, all the
  information in the SQUARE boxes, ONLY!
• Read straight through every page of this
  competency, again
• Take your time and answer each question of the
  Knowledge Check, again

• Tuesday Wednesday Competencies Two Three,
  respectively. Thursday Friday Fiscal Law
  Competency Repeat the five (5) steps listed
  above for each day and each competency

• Saturday Sunday Rest

• Repeat the process above for week Eight (8)
  with the exception of Saturday Saturday you take
  Module Three Exam. Sunday you rest

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Closing

• M Motivation-
• You have to develop a motive or a purpose as to
  why you want to become a CDFM.
• Is it because you want a promotion?
• Is it because you want the designation behind
  your name?
• Is it for respect?
• Is it for shear educational reasons or purposes?
• Regardless of the reason or motive, you must
  discover that purpose. Once you discover that
  motive, you can then begin to act on that motive.
  Motive plus action equals Motivation!
  Motivation is a motive acted upon. You must
  develop a motive and then act on that motive and
  display and stay motivated.
• All successful individuals share this attribute

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
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Closing

• O Opportunity-
• You must take advantage of every single
  opportunity that presents itself for you to learn
  and to study.
• For example research and find out where the
  Enhance Defense Financial Management Training
  Course (EDFMTC) is being offered and sign up and
  take it it is centrally funded that is, it is
  free!!!
• Take advantage of mentors, advice, articles, and
  the like, which will help you study and obtain
  your CDFM.
• It is absolutely essential that you seek out
  every single opportunity that is possible.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
Slide 33
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Closing

• N Network-
• Seek out those that already have the CDFM and
  network with them.
• Trade business cards with them.
• Seek advice and recommendations from them.
• Network each and every opportunity that you get
  with someone that you know that has successfully
  passed the CDFM exam.
• You will find this to be tremendously helpful.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
Slide 34
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Closing

• E Education-
• Set a goal to become more educated every day.
• Take 30 minutes or an hour each day to study a
  segment of one of the modules of the CDFM.
• It will make you smarter whether you are about to
  take the exam or not.
• The CDFM, in of itself, is quality education
  alone.
• It will help you with your everyday work
  environment regardless of the branch
• of service that you work for - as the
  CDFM is DOD specific.

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
Slide 35
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Closing

• Y You-
• Finally, it is all about Y-O-U!
• Will you develop a motive and/or a reason or a
  purpose to take the CDFM exam?
• Will you put that motive into action and
  demonstrate and develop motivation to study and
  pass the CDFM exam?
• Will you take advantage of every opportunity to
  take classes including the EDFMTC?
• Will you take the opportunity to become an
  expert in DOD FM?
• Will you take the opportunity to standout and
  separate yourself from the average FM and your
  peers?
• Will you educate yourself daily?
• Will you use this eight week study plan? Will
  you become a CDFM in eight weeks?

Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
Slide 36
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Closing
M
Motivation
O
Opportunity
N
Network
E
Education
Y You

Will you take this M.O.N.EY ?????
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL
Slide 37
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QUESTIONS
EMAIL anthony.williams_at_navy.mil Phone (901)
874-4336 PRIMARY REFERENCE http//www.asmconline.
org
Toney Williams, CDFM, CFE ASMC PDI 2010 Orlando,
FL