The United States Army Financial Management School is located in

Fort Jackson, South Carolina Fort Jackson is a United States Army installation, which TRADOC operates on for Basic Combat Training (BCT), and is located within the city of Columbia, South Carolina. This installation is named for Andrew Jackson, a United States Army gene ...

, and has the mission of providing the

United States Army The United States Army (USA) is the land warfare, land military branch, service branch of the United States Armed Forces. It is one of the eight Uniformed services of the United States, U.S. uniformed services, and is designated as the Army o ...

with military and civilian leaders trained in

financial management Financial management is the business function concerned with profitability, expenses, cash and credit, so that the "organization may have the means to carry out its objective as satisfactorily as possible;" the latter often defined as maximizin ...

, 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 and

analysis Analysis ( : analyses) is the process of breaking a complex topic or substance into smaller parts in order to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle (3 ...

accounts payable Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. An accounts payabl ...

and disbursing operations, and auditing. While training in financial management at Fort Jackson, soldiers must still participate in

physical training Physical fitness is a state of health and well-being and, more specifically, the ability to perform aspects of sports, occupations and daily activities. Physical fitness is generally achieved through proper nutrition, moderate-vigorous physical ...

and testing.

History

The Second Continental Congress appointed a

Paymaster General His Majesty's Paymaster General or HM Paymaster General is a ministerial position in the Cabinet Office of the United Kingdom. The incumbent Paymaster General is Jeremy Quin MP. History The post was created in 1836 by the merger of the posi ...

of the Army on 16 June 1775, thereby creating a Pay Department consisting of finance soldiers that disbursed pay throughout the Continental Army. The Pay Department became a part of the

Quartermaster Corps Following is a list of Quartermaster Corps, military units, active and defunct, with logistics duties: * Egyptian Army Quartermaster Corps - see Structure of the Egyptian Army * Hellenic Army Quartermaster Corps (''Σώμα Φροντιστών ...

in 1912. In 1920 the U.S. Army

Finance Corps The United States Army Finance Corps is a combat service support (CSS) branch of the United States Army. The Finance Corps traces its foundation to 16 June 1775, when the Second Continental Congress established the office of Paymaster General of ...

became a separate army branch and at this point it became responsible for more than monthly pay as it took on all auditing and budgeting for the entire

War Department War Department may refer to: * War Department (United Kingdom) * United States Department of War (1789–1947) See also * War Office, a former department of the British Government * Ministry of defence * Ministry of War * Ministry of Defence * D ...

. 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 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 system of the Department of the Army, including— (A) systems for cash management, credit management, and

debt collection Debt collection is the process of pursuing payments of debts owed by individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. Most collection agencies operate as agents of ...

; 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