Army Financial Management Regulation

Washington (March 12, 2013) - The Army has launched the first online course through the Army Learning Management System (ALMS) that trains personnel on the documentation required to prove mission-critical assets are properly accounted for. Maintaining this documentation for all assets is critical if the Army is to be successful in its first audit of its financial statements.

"Property book officers, unit supply sergeants, and other personnel who manage military equipment and general equipment may not realize the impact they have on the Army's financial statements, " said Mr. James Watkins, deputy assistant secretary of the Army for financial operations. "When someone does not do something as simple as signing a document to prove it has been reviewed, it puts the Army at risk for failing an internal control. We must be able to prove to auditors, as well as the American taxpayers, that we properly manage our resources and follow prescribed controls written in our regulations and SOPs."

Training is now available now on Army Learning Management System, known as ALMS, called "Military Equipment / General Equipment Audit Readiness, " and covers processes such as:

• signing and dating a receiving report to validate goods or services actually received were compared to the items ordered
• reviewing standard operating procedures for certain business processes annually to ensure they align with generally accepted accounting principles, Department of the Defense (DOD) and Army policies
• having the proper forms on file to show that someone has the authority to sign-off on a business transaction.

The Army began testing controls in all major commands in January to ensure the Class VII processes covered in the training is in place and operating effectively. The testing efforts require commands to provide the documentation for chosen processes, simulating requests that commands will eventually receive in an actual audit.

The online course, which takes approximately one hour, addresses the processes associated with military and general equipment known as Class VII assets, which includes trucks, helicopters, training simulators, and construction equipment.