Financial Management
ASMC’s Partnership X Management Concepts: Enhancing Defense Financial Management Training for Members
read moreHow to Maximize Agency Funds at Fiscal Year-End
Federal financial management professionals are stewards and fiduciaries of public trust and should always adhere to appropriations law.
read moreThe Sobering Reality Presented at the AGA 2020 Internal Control & Fraud Prevention Training
read moreStomping Out Fraud in Government
When you consider that each fiscal year the Federal Government appropriates trillions for projects, programs, and operating budgets, it is easy to see that there might be opportunities for misuse of funds. According to the Government Accountability Office, (GAO), a person commits fraud when they attempt to obtain something of value through willful misrepresentation. But what does that look like in day-to-day operations? Let’s examine some recent earth-shattering to seemingly minor examples that should put fraud in perspective.
read moreSignificant Changes Introduced by the 2018 Yellow Book
In July of 2018, the long-anticipated revision of the Government Accountability Office’s (GAO’s) Generally Accepted Government Auditing Standards (GAGAS), commonly referred to as The Yellow Book, was released. It provides auditors with professional qualification guidelines and generally accepted government auditing standards for performing audits, including reporting and quality control.
read moreWhat’s Really at Risk?
The Government Accountability Office (GAO) publishes Standards for Internal Control in the Federal Government (also known as the Green Book), which defines, among other things, four principles of risk assessment. In short, they are:
1. Define objectives and risk tolerances
2. Identify, analyze, and respond to risks
3. Assess fraud risk
4. Identify, analyze, and respond to change
Paying for Federal IT Modernization
One of the themes in the President’s Management Agenda (PMA) focuses on eliminating the discrepancy between the American people’s experiences dealing with the private sector and their experiences interacting with the Federal Government. For many Federal Agencies, bridging this gap will require an overhaul of information technology (IT) assets and processes.
read moreFederal Workforce 101 Series (Part I) – Fiscal Year 2020 Budget Proposal Impacts on Federal Workforce Engagement
Coming off the heels of the longest Federal Government shutdown in history last month, news of the President’s fiscal year 2020 budget proposal and the many proposed changes to Federal pay and benefits might feel a bit hard to swallow for many Federal workers. On top of an all-too-familiar proposal to freeze Federal pay, President Trump’s budget also called for significant funding cuts and reorganization of many Federal agencies or elimination of some programs, altogether.
read more3 Key Themes Dominate the 2019 ASMC Regional Professional Development Institute Event
This year’s theme, “Who Dares Wins”, is the motto that originated with the British Special Air Service. The Deputy Chief Financial Officer (DCFO) of the Department of Defense (DoD), Mr. Mark Easton, was the keynote speaker – addressing this theme in a very thought-provoking and informative way. He conveyed that it’s a great time to be an FMer, and that while there are many challenges now and on the horizon, FMers are “Daring to Win” each day. Additionally, he provided a macro-level view of a few key financial management (FM) initiatives, including the undertaking of the largest audit ever, the impending roll-out of the FY20 budget, technological advances within the DoD, and more. It was great to hear about the progress being made by each of the Armed Services on their respective audits. They’re digging in, addressing findings, implementing corrective action plans, and establishing best practices.
read moreInsights and updates from AGA’s 2018 National Leadership Training
I recently had the opportunity to represent Management Concepts at the Association of Government Accountants’ National Leadership Training (NLT) event at the Ronald Reagan Building in Washington, D.C. This two-day event is designed to develop and train government financial professionals to excel as leaders. Featured speakers included Dave DeLong, President, Smart Workforce Strategies and Mark Updegrove, CEO, National Medal of Honor Museum. The event drew hundreds of CEO’s, CFO’s, senior executives, PhD’s, CPA’s, senior managers, and future leaders from Federal, state, and local organizations across the U.S.
read moreAGA PDT 2017: Top Takeaways from Financial Management Conference
Last week in Boston, over one thousand of the nation’s government financial management professionals convened for expert insights and networking (and CPEs) at the Association of Government Accountants (AGA) annual Professional Development Training (PDT) event.
read moreInspiration and Insight at AGA’s 2017 National Leadership Training Event
The AGA NLT 2017 exhibit hall was packed with accountants, auditors, CEOs, CPAs, CGFMs, consultants, senior government leaders, and business developers—made for a pretty broad representation of Federal financial management professionals. So, what kept everybody together for two days? Dedication to outstanding public service and exceptional leadership. The event schedule was filled with expert-led presentations, with topics including Presidential transition, cyber security, the DATA act, and risk management
read moreFederal Financial Management Changes in 2017: It Started in 2016
Here’s a two-part rundown of big changes in 2016 that will continue to affect our field in 2017—we’ve included quick tips and reminders for adapting to these changes, and resources for how to stay up to date in our ever-changing field.
read moreQ and A: All about the New A-123
On September 28, Management Concepts presented a free webinar—Easy as A-123: What You Need to Know About the Update—highlighting the significant changes to OMB Circular A-123 Management’s Responsibility for Enterprise Risk Management and Internal Control. During the Q&A there was time to answer only a few questions, but many good ones were submitted. Below are answers to the most representative questions.
read moreAnalysis Paralysis: Find Time to Get the Croissant with Your Cup of Coffee
You’ve just submitted the report that your supervisor wanted on projected HR costs for next quarter. As you lean back to enjoy your second cup of coffee and begin to tackle your next project, an email asking you to run the analysis based on a different set of assumptions pops up in your inbox. So much for getting a head-start on that other project. Changing one or two input items yielding different results that management can act upon is referred to as “modeling”.
read moreOMB Circular A-123 Revision
The long-awaited OMB Circular A-123 Management’s Responsibility for Enterprise Risk Management and Internal Control finally was issued on July 15, 2016. We…
read moreIT’S CRUNCH TIME! Fiscal Year-End Spending
The end of the fiscal year is rapidly approaching…and you know what that means…Yep! We’ve got a lot of things to get obligated – things we need but either haven’t…
read moreImproper Payment Reduction: Slow, but Steady
What’s Improper? Well, for one thing: improper payments by the Federal government. One definition of improper is: “Not in accordance with rules and standards.”…
read moreGovernment’s Mistakes in Payments: Does It Lose the Right to Restitution?
The fiscal rules governing the use of Federal funds are complicated. As a result, mistakes happen. Errors often include making overpayments to Federal employees…
read moreASMC NCR PDI: The Biggest One Yet
More than 1,500 financial management professionals filled the Atrium of the Ronald Reagan Building on March 10 for the ASMC NCR PDI Conference…
read moreAGA NLT: The Training Event for Federal Financial Management Leaders
AGA hosted another stellar event at the Ronald Reagan Building & International Trade Center last week. The AGA NLT – National Leadership Training bought hundreds…
read moreWhere Does Quality Come From?
In the workaday world of government, we don’t spend a lot of time focusing on quality. Why don’t we? First of all, most government employees feel like they have…
read moreCan the Government Violate Existing Policy to Save Money?
While the Consolidated Appropriations Act passed in December raised agency spending limits, the increase was modest. As a result, Federal budgets remain tight…
read moreAcquisition and Appropriations Law – Making the Connections
There are many intersections between the two disciplines of Acquisition and Appropriations Law. Federal Acquisition managers more and more must have a fundamental…
read moreFraud and the Role of Internal Controls
Fraud is defined as “perversion of truth” or “false representation of fact” where the government is a victim. Obviously the fraudster hopes to gain at the expense…
read moreThe “ABC’s” of Economy Act Intergovernmental Transactions
Intragovernmental Transactions (reimbursable transactions) abound in the Federal government today. But what is the primary law that allows one agency to do work…
read morePaying for Non-Federal Travel
Can appropriated funds ever be used to pay travel expenses for a non-Federal person? Don lives and works in Houston for NASA. He was recently notified that he will…
read moreTo Shutdown or Not
It’s seven days until a partial shutdown of the U.S. government could occur. If Congress does not pass a Continuing Resolution (CR) or 12 appropriation bills, or…
read moreFY End Spending – a Webinar Recap
On August 19 Management Concepts conducted a one-hour webinar entitled It’s About Time: Appropriations Law and Year-End Spending Webinar. More than 300 attendees…
read moreIntegrating Internal Controls with Best Practices
In my previous blogs I talked about the different components that comprise the organizational environment where best practices can survive and thrive and the…
read moreWhat’s the RISK in Ignoring RISK?
Everybody knows what risk is: the possibility that something can go wrong. But the question is this: How often do we consider risk in the Federal workplace? Now if you work…
read moreAGA Rocked Music City at PDT 2015
I had the privilege of attending the Association of Government Accountants (AGA) Professional Development Training (PDT) in Nashville last week and returned with…
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