American Society of Military Comptrollers
Encyclopedia
The American Society of Military Comptrollers is a non-profit profession educational and training organization for military and civilian financial managers who support United States military organizations. The society sponsors research, provides professional development programs to keep members abreast of current government accounting, finance
, and budget
issues. It administers a professional certification examination. The organization also publishes a professional journal called Armed Forces Comptroller.
. It was originally called the Society of Military Accountants and Statisticians, and was only open to active duty military officers. Since then, the organization has grown to include both military officers, enlisted members of the armed forces, and civilian personnel from all the military services in the United States Department of Defense
and the United States Coast Guard
, including persons retired from those categories. It also includes employees of contractors to military organizations. Civilian employees now constitute a majority of all ASMC members. Over the years, the society has also expanded membership to include many comptroller related fields. Today, the organization promotes professional development in general financial management, accounting and finance, budgeting, resource management, auditing, statistics
and cost analysis
, management analysis, manpower management, program analysis
, acquisition management
, and comptroller related administrative support activities.
The society’s current membership is approximately 18,000 individual members along with 150 corporate members. There are 150 active chapters located in 43 states. There are also a number of chapters located outside the United States
. The organization’s headquarters is in Alexandria
, Virginia
.
On 11 September 2001
, sixteen members of the American Society of Military Comptroller were killed when al-Qaeda
terrorists crashed a hijacked airliner
into the Pentagon
. Five other members of the society were injury badly enough to require hospitalization.
. The most common certifications are state administered Certified Public Accountant
examinations and the national Certified Defense Financial Manager (CDFM) examination which was developed by the American Society of Military Comptrollers.
The CDFM examination is composed of four separate test modules. The first three must be passed to receive basic CDFM certification. The fourth module on acquisition is optional. Those who pass all four modules are identified as CDFM-A. The following is an outline of the topic covered in the four test modules.
Examinations are administered by commercial testing organizations throughout the United States. Each examination module contains a minimum of 80 questions. Candidates are allotted two hours to complete each module. To received the basic certification, an individual must pass the first three module examinations. Individuals who complete all four modules are recognized as Certified Defense Financial Manager with Acquisition Specialty. CDFM is an important professional credential for military comptrollers.
As with most professional credentials, the CDFM program requires (1) technical examinations; (2) education; (3) experience; (4) continuing professional education; and (5) subscription to a code of professional ethics.
The American Society of Military Comptrollers also offer scholarships to high school seniors interested in pursuing a college degree in business
, economics
, accounting, auditing, computer science
, or mathematics
. The national organization sponsors eleven scholarships each year. There is one $3,000 scholarship, five $2,000 scholarship, and five $1,000 scholarship. Most local chapters sponsor additional scholarship, some offering as much as $4,000.
The Society also sponsors an annual essay competition. The three winners receive cash awards of $750 for first place, $500 for second place, and $250 for third place. All three winners receive a plaque, presented at the society’s Professional Development Institute. The winning essays are also published in the Armed Forces Comptroller magazine.
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
, and budget
Budget
A budget is a financial plan and a list of all planned expenses and revenues. It is a plan for saving, borrowing and spending. A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods...
issues. It administers a professional certification examination. The organization also publishes a professional journal called Armed Forces Comptroller.
History and organization
American Society of Military Comptrollers (ASMC) was established in 1948 San Antonio, TexasTexas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
. It was originally called the Society of Military Accountants and Statisticians, and was only open to active duty military officers. Since then, the organization has grown to include both military officers, enlisted members of the armed forces, and civilian personnel from all the military services in the United States Department of Defense
United States Department of Defense
The United States Department of Defense is the U.S...
and the United States Coast Guard
United States Coast Guard
The United States Coast Guard is a branch of the United States Armed Forces and one of the seven U.S. uniformed services. The Coast Guard is a maritime, military, multi-mission service unique among the military branches for having a maritime law enforcement mission and a federal regulatory agency...
, including persons retired from those categories. It also includes employees of contractors to military organizations. Civilian employees now constitute a majority of all ASMC members. Over the years, the society has also expanded membership to include many comptroller related fields. Today, the organization promotes professional development in general financial management, accounting and finance, budgeting, resource management, auditing, statistics
Statistics
Statistics is the study of the collection, organization, analysis, and interpretation of data. It deals with all aspects of this, including the planning of data collection in terms of the design of surveys and experiments....
and cost analysis
Cost engineering
Cost engineering is an area of engineering practice concerned with the "application of scientific principles and techniques to problems of cost estimating, cost control, business planning and management science, profitability analysis, project management, and planning and scheduling."- Overview...
, management analysis, manpower management, program analysis
Program evaluation
Project evaluation is a systematic method for collecting, analyzing, and using information to answer questions about projects, policies and programs, particularly about their effectiveness and efficiency...
, acquisition management
Procurement
Procurement is the acquisition of goods or services. It is favourable that the goods/services are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality and quantity, time, and location...
, and comptroller related administrative support activities.
The society’s current membership is approximately 18,000 individual members along with 150 corporate members. There are 150 active chapters located in 43 states. There are also a number of chapters located outside the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. The organization’s headquarters is in Alexandria
Alexandria, Virginia
Alexandria is an independent city in the Commonwealth of Virginia. As of 2009, the city had a total population of 139,966. Located along the Western bank of the Potomac River, Alexandria is approximately six miles south of downtown Washington, D.C.Like the rest of northern Virginia, as well as...
, Virginia
Virginia
The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
.
On 11 September 2001
September 11, 2001 attacks
The September 11 attacks The September 11 attacks The September 11 attacks (also referred to as September 11, September 11th or 9/119/11 is pronounced "nine eleven". The slash is not part of the pronunciation...
, sixteen members of the American Society of Military Comptroller were killed when al-Qaeda
Al-Qaeda
Al-Qaeda is a global broad-based militant Islamist terrorist organization founded by Osama bin Laden sometime between August 1988 and late 1989. It operates as a network comprising both a multinational, stateless army and a radical Sunni Muslim movement calling for global Jihad...
terrorists crashed a hijacked airliner
Aircraft hijacking
Aircraft hijacking is the unlawful seizure of an aircraft by an individual or a group. In most cases, the pilot is forced to fly according to the orders of the hijackers. Occasionally, however, the hijackers have flown the aircraft themselves, such as the September 11 attacks of 2001...
into the Pentagon
The Pentagon
The Pentagon is the headquarters of the United States Department of Defense, located in Arlington County, Virginia. As a symbol of the U.S. military, "the Pentagon" is often used metonymically to refer to the Department of Defense rather than the building itself.Designed by the American architect...
. Five other members of the society were injury badly enough to require hospitalization.
Certification program
Because defense financial management is complex, military comptrollers are encouraged to seek professional certificationProfessional certification
Professional certification, trade certification, or professional designation, often called simply certification or qualification, is a designation earned by a person to assure qualification to perform a job or task...
. The most common certifications are state administered Certified Public Accountant
Certified Public Accountant
Certified Public Accountant is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA...
examinations and the national Certified Defense Financial Manager (CDFM) examination which was developed by the American Society of Military Comptrollers.
The CDFM examination is composed of four separate test modules. The first three must be passed to receive basic CDFM certification. The fourth module on acquisition is optional. Those who pass all four modules are identified as CDFM-A. The following is an outline of the topic covered in the four test modules.
- Module 1 covers the military resource management environment including: government resource management environment (15%); defense resource management environment (35%); manpower management (10%); personnel management (15%); management and internal controls (10%); and fiscal law (15%).
- Module 2 covers budget and cost analysis including: planning, programming, budgeting and execution of appropriated funds (60%); cost and economic analysis (20%); business management process improvement (10%); and fiscal law (10%).
- Module 3 covers accounting and finance including: fiscal law (15%); finance (35%); accounting (35%); and auditing (15%).
- Module 4 covers defense acquisition subject matter including: acquisition strategy and the three major defense decision support systems (11%); systems engineering (15%); resource management (10%); life cycle logistics (8%); human systems integration (5%); acquiring information technology (7%); technology protection (5%); test and evaluation (9%); decisions, assessments and reporting (11%); and earned value management (19%).
Examinations are administered by commercial testing organizations throughout the United States. Each examination module contains a minimum of 80 questions. Candidates are allotted two hours to complete each module. To received the basic certification, an individual must pass the first three module examinations. Individuals who complete all four modules are recognized as Certified Defense Financial Manager with Acquisition Specialty. CDFM is an important professional credential for military comptrollers.
As with most professional credentials, the CDFM program requires (1) technical examinations; (2) education; (3) experience; (4) continuing professional education; and (5) subscription to a code of professional ethics.
Professional Development Institute
The purpose of the American Society of Military Comptrollers is to provide professional education and training for military financial managers. To help accomplish this goal, the society hosts an annual Professional Development Institute, normally lasting four days immediately after Memorial Day. The event provides a forum for recognized experts in various comptroller fields to share their knowledge with fellow practitioners. It also allows senior leaders from the Department of Defense and the military services an opportunity to speak to 3,000 to 4,000 military and (mostly) civilian financial managers about professional value, change in the fiscal environment, and national defense priorities.Professional publication
The American Society of Military Comptrollers publishes a quarterly professional journal called the Armed Forces Comptroller. The purpose of the journal is to encourage professional development and provide a forum for military comptroller personnel to share best practices and new ideas. It also helps keep society members informed of current trends and issues of interest to financial managers working in military organizations. The journal publishes diverse viewpoints on a wide range of comptroller related topics. Because the American Society of Military Comptrollers is a private organization, their journal does not have to reflect the official Government position any given topic. As a result, the Armed Forces Comptroller is widely read and respected as a professional publication.Awards and scholarships
The American Society of Military Comptrollers sponsors an annual awards program to recognize the outstanding professional accomplishments of military and civilian financial managers working in the Department of Defense and the United States Coast Guard. Society chapter nominate individuals for awards in various comptroller disciplines. Nominees do not have to be a member of the society to be nominated for an award. Award are presented to recognize outstanding accomplishments in the areas of senior level comptrollership; budgeting; resource management; accounting and finance; analysis and evaluation; auditing; manpower management; education, training and career development; and an exceptional intern or trainee award. Awards are presented at two levels Distinguished and Meritorious. Awards are presented at the society’s annual Professional Development Institute.The American Society of Military Comptrollers also offer scholarships to high school seniors interested in pursuing a college degree in business
Business
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
, economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
, accounting, auditing, computer science
Computer science
Computer science or computing science is the study of the theoretical foundations of information and computation and of practical techniques for their implementation and application in computer systems...
, or mathematics
Mathematics
Mathematics is the study of quantity, space, structure, and change. Mathematicians seek out patterns and formulate new conjectures. Mathematicians resolve the truth or falsity of conjectures by mathematical proofs, which are arguments sufficient to convince other mathematicians of their validity...
. The national organization sponsors eleven scholarships each year. There is one $3,000 scholarship, five $2,000 scholarship, and five $1,000 scholarship. Most local chapters sponsor additional scholarship, some offering as much as $4,000.
The Society also sponsors an annual essay competition. The three winners receive cash awards of $750 for first place, $500 for second place, and $250 for third place. All three winners receive a plaque, presented at the society’s Professional Development Institute. The winning essays are also published in the Armed Forces Comptroller magazine.