EntryLevel Professional Accountant Program Joe Frischmann DFAS Indianapolis

Entry-Level Professional Accountant Program Joe Frischmann DFAS Indianapolis Your Financial Partner @ Work

DFAS Mission 11/2/2020 2

Our Vision l World-class provider of finance and accounting services l Trusted, innovative financial partner l Employer of choice, providing progressive and professional work environment l One organization, one identity 11/2/2020 3

Some History on DFAS was created in 1991 by the Secretary of Defense to reduce the cost of Do. D finance and accounting operations and strengthen Do. D financial management through consolidation of Do. D finance and accounting services. 11/2/2020 4

Department of Defense Hierarchy 11/2/2020 5

DFAS Hierarchy 11/2/2020 6

Business Line Hierarchy Accounting Business Line Director Navy Air Force Marine Corps Army Client Executive 11/2/2020 OSD Defense Agencies Client Executive 7

How DFAS Does Business Administration DFAS Customers Congress appropriates funds to Do. D The administration wants competition and accountability in all government operations Every dollar saved by DFAS is a dollar that can be used to better equip our warfighters 11/2/2020 Our customers want best value services Customers pay for our services We provide services to customers DFAS Since our creation, we have operated as a Working Capital Fund 8

DFAS is Big Business l World’s largest finance and accounting operation 16, 000 employees l Service 5. 7 million military members, military retirees and annuitants, and Do. D civilians l Manage 267 active Do. D Appropriations worth $517 B l Manage a $176 B Retirement Trust Fund l $346. 6 billion in disbursements annually l Process 11. 2 million commercial invoices l 7. 3 million travel payments and settlements l 124 million accounting transactions annually 11/2/2020 9

DFAS Sites Limestone Ro me Rock Island Omaha Oakland Denver Kansas City Seaside San Bernardino Lawton Indianapolis St Louis Cleveland Columbus Headquarters Dayton Lexington Norfolk Charleston San Diego Honolulu San Antonio Pensacola Minor Sites Orlando Major Sites DFAS HQ Japan 11/2/2020 Europe 10

Accounting Responsibilities l Prepare financial statements l Perform cost accounting l Define accounting requirements l l Provide accounting and financial advice Maintain and administer accounting systems l Maintain general ledger l Maintain accounts receivable l Maintain accounts payable l Record inventory values l Perform reconciliations l Perform data integrity analysis l Develop, produce, and analyze accounting reports l Perform disbursing (paying and collecting) activities l Perform cash reporting l Perform funds control/budgetary accounting l Perform property/plant/equipment accounting l Perform payroll accounting 11/2/2020 11

Government vs. Public/Private Business Government Businesses 11/2/2020 OBJECTIVES CONTROLS Acquiring and spending resources legally and appropriately Use of statutory, fund and budgetary controls Seeking to increase or even maintain capital Presence of supply, demand profit devices 12

Comparison Matrix 11/2/2020 13

Entry-Level Professional Accountant Typical Professional Career Path Executive l Management l Professional l Journey Approximately 80% of the workforce are at the professional or journey levels. Salary structures are based on grade, length of time in a grade, and location. Employees become qualified for higher level positions through a combination of education, training, and experience. Entry 11/2/2020 14

Candidate Requirements Completion of Bachelor’s Degree in Accounting or business-related degree with 24 semester credit hours of accounting coursework 11/2/2020 l Targeting candidates with evidence of strong academic achievement l Demonstrated record for success l Strong leadership potential l Professional demeanor l Interpersonal skills l Match our Core Values l Integrity, Innovation, Service 15

What’s in it for you? l Valuable experience l Competitive salary l Career opportunities l Professional development l Flexible work schedules l Comprehensive benefits: l l 11/2/2020 Health and life insurance 401 k with matching funds Ten paid holidays Paid sick days 16

Three-Year ELPA Program l Years One and Two l Four six-month rotations (examples) l l l Systems l l Accounting l Review l Year Three l l 11/2/2020 Ongoing throughout program l Disbursing l Internal l l On-the-job training Two (or more) short rotations with other business lines (e. g. , vendor, travel, or military pay) l l Classes Special projects Site/customer visit Leadership/networking conferences Meetings with senior managers Professional association luncheons Topical briefings 17

Professional Associations AGA Association of Government Accountants Mission: To serve professionals in the government financial management community by providing quality education, fostering professional development and certification and supporting standards and research to advance government accountability. ASMC American Society of Military Comptrollers Mission: To promote education, training and professional development in all aspects of military comptrollership. Also: B. I. G. , N. A. F. E. /W. I. N. , and more. 11/2/2020 18

Professional Associations Benefits include: l l l l Networking Staying current on your profession’s topics Practice leadership in non-threatening environment Professional development National PDCs (from which you can earn CPEs) You decide on your % of participation Early career minimal costs A great way to guide your career with assistance from experienced leaders. 11/2/2020 19

Opportunities for You l l 11/2/2020 Internships l Work with experienced accountants l Group research project with final briefing and recommendations l Topical briefings by senior managers l Networking opportunities, initiative-based projects, training opportunities, social activities In the next five years, a large percentage of the workforce is eligible for early or regular retirement. 20

DFAS Developmental Programs’ Awards l 2002 - Indiana Internnet (State’s largest intern source) awarded DFAS an Award of Excellence (2 nd tier award) for its first summer intern program l 2003 - Indiana Internnet awarded DFAS the Best of the Best Award (top award) for its second summer intern program l 2003 - Association of Government Accountants (AGA) awarded DFAS the AGA Educator of the Year for its Developmental Programs which included: l l l 11/2/2020 Entry Level Professional Accountant Program Developmental Professional Accountant Program. College Intern Program 21

Maybe we don’t get thanked everyday, but. . . …but we are committed to providing world-class service at a reduced cost to the military members and their families. 11/2/2020 22

DFAS Your Financial Partner @ Work WWW. DFAS. MIL 11/2/2020 23