FFMIA

(redirected from Federal Financial Management Improvement Act)
AcronymDefinition
FFMIAFederal Financial Management Improvement Act
FFMIAFlorida Fire Marshals and Inspectors Association (est. 1977)
References in periodicals archive ?
The Federal Financial Management Improvement Act of 1996 (FFMIA) requires that the departments and agencies covered by the CFO Act implement and maintain financial management systems that comply substantially with (1) federal financial management systems requirements, (2) applicable federal accounting standards, and (3) the U.S.
The Federal Financial Management Improvement Act of 1996 (FFMIA) requires that agencies implement and maintain financial management systems that substantially comply with federal financial management system requirements.
These deferred external reporting capabilities, combined with the findings from our April 2003 report, indicate that NASA's June 2003 core financial module and related systems do not substantially comply with the requirements of Federal Financial Management Improvement Act (FFMIA).
The Federal Financial Management Improvement Act of 1996 (FFMIA) requires Chief Financial Officers (CFO) Act agencies to implement and maintain financial management systems that comply substantially with (1) federal financial management systems requirements, (2) federal accounting standards, and (3) the U.S.
The department, with an estimated $39 billion in assets, an almost $40 billion fiscal year 2004 budget request, and more than 170,000 employees, does not have a presidentially appointed CFO subject to Senate confirmation and is not required to comply with the Federal Financial Management Improvement Act (FFMIA) of 1996.
Federal Financial Management Improvement Act of 1996 (FFMIA)--It focuses on financial management systems and other systems that impact financial reporting.
Many DoD systems, particularly older legacy feeder systems, were eot designed to capture transactions at a level of detail that readily supports a financial statement audit, especially requirements established after those systems were fielded, such as those in the Federal Financial Management Improvement Act (FFMIA) of 1996.
The Army Audit Agency's most recent evaluation found that GFEBS complies with 1,054 of 1,113 requirements, or 94.7 percent, of the Federal Financial Management Improvement Act. Ongoing development of GFEBS will complete the remaining 5 percent for full compliance in FY 2012.
GAO also tests IRS's compliance with selected provisions of significant laws and regulations and its financial systems' compliance with the Federal Financial Management Improvement Act of 1996 (FFMIA).
Core Financial System Requirements: Checklist for Reviewing Systems under the Federal Financial Management Improvement Act, GAO-05-225G, Feb.
Two actions Congress took are the Chief Financial Officers Act of 1990 and the Federal Financial Management Improvement Act of 1996.
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