The United States Army Financial Management School is located in Fort Jackson, South Carolina, and has the mission of providing the United States Army with military and civilian leaders trained in financial management, and develop complementary concepts, doctrine, and organization for financial management in support of America's Armed Forces. Students take classes and train in subjects such as advanced

accounting Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "languag ...

and analysis, accounts payable and disbursing operations, and auditing. While training in financial management at Fort Jackson, soldiers must still participate in physical training and testing.

History

The

Second Continental Congress The Second Continental Congress was a late-18th-century meeting of delegates from the Thirteen Colonies that united in support of the American Revolutionary War. The Congress was creating a new country it first named "United Colonies" and in 1 ...

appointed a Paymaster General of the Army on 16 June 1775, thereby creating a Pay Department consisting of finance soldiers that disbursed pay throughout the

Continental Army The Continental Army was the army of the United Colonies (the Thirteen Colonies) in the Revolutionary-era United States. It was formed by the Second Continental Congress after the outbreak of the American Revolutionary War, and was establis ...

. The Pay Department became a part of the Quartermaster Corps in 1912. In 1920 the U.S. Army Finance Corps became a separate army branch and at this point it became responsible for more than monthly pay as it took on all

auditing An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing ...

and

budgeting A budget is a calculation play, usually but not always financial, for a defined period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmen ...

for the entire War Department. In 2019, the name of the school was changed from Financial Management to Finance and Controller.https://www.finance.army.mil/cadets/docs/FCS%20Accession%20Brochure.pdf

Legislation

US Code Title 10 § 3022. Financial Management establishes: (a) The

Secretary of the Army The secretary of the Army (SA or SECARMY) is a senior civilian official within the United States Department of Defense, with statutory responsibility for all matters relating to the United States Army: manpower, personnel, reserve affairs, insta ...

shall provide that the Assistant Secretary of the Army for Financial Management shall direct and manage financial management activities and operations of the Department of the Army, including ensuring that financial management systems of the Department of the Army comply with subsection (b). The authority of the Assistant Secretary for such direction and management shall include the authority to— (1) supervise and direct the preparation of budget estimates of the Department of the Army and otherwise carry out, with respect to the Department of the Army, the functions specified for the Under Secretary of Defense (Comptroller) in section 135 (c) of this title; (2) approve and supervise any project to design or enhance a financial management system for the Department of the Army; and (3) approve the establishment and supervise the operation of any

asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

system of the Department of the Army, including— (A) systems for cash management, credit management, and debt collection; and (B) systems for the accounting for the quantity, location, and cost of property and inventory.

References

{{reflist United States Army schools Financial management organizations