Standard
Financial Information Structure (SFIS):
The Common Business Language of DoD
SFIS -- commonly pronounced “ess-fis” -- is a comprehensive "common
business language" that supports information and data requirements
for budgeting, financial accounting, cost/performance management,
and external reporting across the DoD enterprise. SFIS standardizes
financial reporting across DoD, thereby reducing the cost of auditability.
It allows revenues and expenses to be reported by programs that align
with major goals versus by appropriation categories. It enables decision-makers
to efficiently compare programs and their associated activities and
costs across DoD. And, it provides a basis for common valuation of
DoD programs, assets, and liabilities.
The initial
SFIS development phase
(Phase I)
identified
and defined data elements for external reporting. Current efforts
are focusing on identifying values for data elements needed to post
transactions to the Department's general ledgers and support the
generation of financial statements. Next steps will include prioritizing
SFIS deployment
and providing
guidance to assist Components in adoption of the standard based on
their legacy system environment, interim environment, and emerging
new environments including Enterprise Resource Programs (ERPs).
To learn more about SFIS, click on the following link to
SFIS Resources.
Continue to visit this site as information and plans regards updates to SFIS will be posted as soon as they are available.
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