NAF Financial Management

Course Type: Virtual
Course Code: vFM

Course Description: This course provides the practical hands-on experience necessary to recognize and apply financial management processes required to successfully operate a non-appropriated fund (NAF) program. This Virtual Course will apply Family and MWR financial management processes to increase student proficiency in Interpreting regulations and operating guidance, analyzing income statements, calculating and identifying labor and other operating expenses, and formulating an annual operating budget (AOB).

Course Details:

• Target Audience: Family and MWR Program Managers
• Prerequisites: Family & MWR Orientation Course (Online), Family and MWR Basic Management Course (Online), Operation Excellence – Online or Classroom Customer Service Training. Also recommended: Applied Financial Planning Suite  (Income Statement Analysis; Breakeven Analysis; Forecasting);  Family and MWR Budgeting Process (Online); Entering Budget Data into Financial Management Budget System (FMBS) (Online).
• Duration: 20 hours total in eight 2.5-hour sessions (either in two sessions per week over four weeks, or in four sessions per week over two weeks).
• Total Time Requirement: 40 hours total, which includes virtual class time of approximately 20 hours (2.5 hours in each session for 8 sessions) and pre-/post-session assignments which require an additional 20 hours (two to three hours/session).
• Course Methodology:  This is a virtual course requiring students to communicate synchronously with instructors and fellow students using features such as audio, video, text chat, interactive whiteboard, and application sharing.
• Equipment: Computer with audio capability (microphone plus speakers or headphones), Army 365 Microsoft Teams account, Common-Access Card (CAC) and Internet access that is on the Army network (on the installation or via VPN). A video camera is highly recommended for the best learning experience in Microsoft Teams.
• IACET CEUs: 3.3 (11/2022)
• ACE Recommended Credits: 3 semester hours in Financial Budgeting (08/2020), upper-division baccalaureate degree category.