Financial Management of Defense Working Capital Funds

Management Concepts

Management Concepts


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Who should attend

This course is designed for financial, program, and functional managers of customer and support organizations who need a detailed understanding of DWCF policies, procedures, concepts, objectives, and terms.

About the course

Understanding the intricacies of the Defense Working Capital Fund (DWCF), a revolving fund financial structure used by DoD for businesslike activities, is a challenge for even the most skilled Federal financial managers. Supporting the effective and accurate operation of these funds is integral to the success of DoD. From the basics to performance budgeting to reporting, you will examine DWCF activities that identify outputs and have customer-provider relationships between Defense units and Defense support organizations.

Learning Objectives

  • Discuss characteristics, business area, structure, and operations of Defense Working Capital Funds (DWCFs)
  • Discuss DWCF general policies and procedures to include accounting standards, management responsibilities, DWCF systems and control, funds management, and auditing requirements
  • Identify the impact of the free market approach on DWCF operations
  • Describe the DWCF budgeting process
  • Calculate a net operating result and an accumulated operating result
  • Calculate a rate for goods/services and conduct a variance analysis
  • Describe the impact of performance budgeting on DWCF
  • Identify unique DWCF cash management and revenue recognition issues and explain mitigation strategies
  • Complete a cash management plan
  • Use the USSGL to identify DWCF accounts
  • Identify the federal financial statements, DWCF reports, and their main components and purposes

Course Topics

DWCF Basics

  • Government Funding Mechanisms
  • What Is the DWCF?
  • Operating The DWCF
  • Customer-Provider Relationships
  • The Evolution of DWCF
  • DoD Working Capital Funds and Business Areas
  • Treasury Fund Symbol
  • Relationship Between DWCFs
  • Responsibilities of Management

DWCF and Mission Readiness

  • DWCF Business Areas
  • The DWCF Charter Requirements
  • The DWCF Policy Board
  • Military Departments and Defense Agencies
  • DWCF Customers
  • DWCF Supported Services – Mission Readiness Imperative
  • The Free Market Approach
  • Greater Efficiency, Smarter Decisions, Better Results
  • Providing Mission-Critical Support

The Budget Process

  • Building Background
  • Congressional Interest
  • DoD Planning, Programming, Budgeting, and Execution (PPBE)
  • Resource Management Decision (RMD)
  • Congressional Approval

Price and Rate Development

  • Unit Cost
  • Unit Cost and Annual Operating Budget (AOB)
  • Budget Formulation
  • Property, Plant, and Equipment (PP&E)
  • Military Personnel
  • Developing Rates
  • Direct Labor Hour (DLH)
  • Rate Setting
  • Stabilized Rates
  • Expenses
  • Direct, Indirect, and General and Administrative Costs
  • Variance Analysis

Performance Budgeting

  • What Is Performance Budgeting?
  • Building a Performance Budget
  • Incorporating Performance Budgeting into the DWCF Budget Submission
  • Benefits of Performance Budgeting
  • Difficulties and Challenges
  • The Importance of the Annual Performance Plan

Cash Management and Revenue Recognition

  • The Idea of Cash and Managing It
  • Federal Accounting Standard for Revenue and Other Financing Sources (SFFAS #7)
  • Defense Guidance on Cash Management
  • DoD Policy on Revenue Recognition
  • Project Orders, Economy Act, and Non-Economy Act Agreements
  • Cash Overages and Shortages
  • Antideficiency Act Implications of Cash and DWCF (DoD FMR Volume 14, Chapter 2)

Financial Statements Reporting

  • Building Background
  • U.S. Standard General Ledger
  • Chart of Accounts
  • Financial Reporting
  • DWCF Financial Reports
  • Agency Financial Report/Annual Performance Report (AFR/APR)

Financial Management of Defense Working Capital Funds at Management Concepts

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Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

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