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dfas
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There are 4 letters in DFAS ( A1D2F4S1 )
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Definitions of dfas in various dictionaries:
DFAS - The Defense Finance and Accounting Service (DFAS) is an agency of the United States Department of Defense (DOD), headquartered in Indianapolis, IN. D...
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The Defense Finance and Accounting Service (DFAS) is an agency of the United States Department of Defense (DOD), headquartered in Indianapolis, IN. DFAS was established in 1991 under the authority, direction, and control of the Under Secretary of Defense (Comptroller)/Chief Financial Officer to strengthen and reduce costs of financial management and operations within DOD. DFAS is responsible for all payments to servicemembers, employees, vendors, and contractors. It provides business intelligence and finance and accounting information to DOD decisionmakers. DFAS is also responsible for preparing annual financial statements and the consolidation, standardization, and modernization of finance and accounting requirements, functions, processes, operations, and systems for DOD.One of the most visible responsibilities of DFAS is handling military pay. DFAS pays all DoD military and civilian personnel, retirees and annuitants, as well as major DoD contractors and vendors. DFAS also supports customers outside the DoD in support of electronic government initiatives. Customers include the Executive Office of the President, the Department of Energy, the Department of Veterans Affairs, the Department of Health and Human Services and the Broadcasting Board of Governors.DFAS is a working capital fund agency financed by reimbursement of operating costs from its governmental customers (mostly the military service departments) rather than through direct appropriations. DFAS remains the world's largest finance and accounting operation.In FY 2016, DFAS: * Processed 122.4 million pay transactions (6.4 million people/accounts) * Made 5.8 million travel payments * Paid 11.7 million commercial invoices * Maintained 151.8 million General Ledger accounts * Managed $899 billion in Military Retirement and Health Benefits Funds * Made $534.5 billion in disbursements * Managed $479 billion in Foreign Military Sales (reimbursed by foreign governments) * Accounted for 1,359 active DoD appropriations |