Barry L. Bulakites

President of Table Bay Financial Network, Inc.

Financial Management Officers work at home stations and deployed locations to provide information, analysis support, and services supporting the Air Force war-fighting mission. They perform fiduciary functions involving appropriated and non-appropriated funds. Receive, reconcile, and distribute funding authorities; examine budget reprogramming actions; and determine the propriety of expenditures.

AFSC 6F031 requires knowledge of Air Force organization, reporting requirements, accounting principles and procedures, fiscal law, and basic computer applications.

Accounting is the process of recording financial transactions. This includes preparing, verifying, and auditing accounting documents, recording entries into automated systems based on these documents, and certifying and processing payment and collection vouchers. It also includes analyzing accounting reports and data to identify trends that can be used to improve planning, programming, and budgeting.

As the military's accounting professionals, Air Force comptrollers are responsible for fiduciary duties involving public funds by ensuring that proper reporting and disclosure rules are followed, data accuracy is upheld, and financial information is properly disseminated to all stakeholders. The Air Force accounting profession is highly specialized. Most accountants complete the Certified Defense Finance Manager (CDFM) certification program to demonstrate knowledge in military resource management, defense procurement, and financial analysis. Military comptrollers are vital to the financial management officer workforce and provide critical support to our warfighters. They are essential in ensuring the Air Force has sufficient funding for operational readiness.

Budgeting helps you set financial goals and make them stick. Whether your short-term goal is saving $1,000 for an emergency fund or your long-term goal is buying a home, having a plan to achieve your goals will help you stay on track.

This career field has many duties and responsibilities and requires excellent customer service skills. Interacts with, advises, and coordinates organizations on financial matters. Interprets and supplements financial directives. Determines propriety of funding, certifies funds availability, and records obligations. Verifies funds and accounting records, processes and audits pay transactions, verifies travel claims, and prepares accountability documents.

Performs administrative and managerial operations in the planning, programming, and managing of air force resources. Conducts cost analysis of air force resources, identifies and explains variances in expenditure data, and develops factors for improved planning and budgeting. Reconciles funding authorities with accounting records, examines funding and reprograms actions to determine financial implications. Maintains statutory responsibility for preventing over-obligation of appropriated funds through funds certification.

Payroll specialists work with the military's accounting and payroll systems to ensure all service members receive their correct paychecks. They also keep track of travel entitlements and other financial matters. They are a vital part of the Air Force.

They work at home and in deployed locations. They provide customer service and analyze, interpret, and supplement fiscal directives. They receive, reconcile, and verify entries into automated systems based on accounting documents and process payment and collection vouchers. They determine the propriety of claims and fund availability and prepare reports.

The six AFSCs represented by the Acquisition and Financial Management badge are accounting, programming/programming, budgeting, funds control, unit cost, and financial analysis. Other duties include non-appropriated fund administration, banking liaison, audit management, and preparation of ad hoc analyses. They must also possess a strong command of military regulations and policies and a thorough understanding of business principles and practices. They must also have good verbal communication skills to interact with leadership.

A financial analysis is an examination of a business to determine the viability and stability of the company. It also helps to identify potential problems in the company's operations. It is used to help decide how to invest money or time.

The financial management field ensures that the Department of Defense's budget and spending are accounted for and support national security objectives. This includes the receipt, accounting, collection, safeguarding, distribution, and control of government-appropriated funds and oversight authority and management of non-appropriated funds.

Due to career field consolidations, personnel reductions, and resource constraints, cost analysis quality has varied dramatically in Air Force installations. To address this problem, a geographically separated Air Force Financial Management Center of Expertise opened in April 2006 at Buckley Air National Guard Base in Denver, Colo. It provides expert on-demand specialized financial analysis, enabling commanders and other financial management professionals at all levels to clearly understand the impact of their decisions and make fully defendable resource allocations.

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