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CGFM EXAM 1- STUDY GUIDE | 833 QUESTIONS AND COMPLETE WELL EXPLAINED ANSWERS WITH RATIONALE 100% CORRECT AND VERIFIED BY EXPERTS GRADED A+ LATEST UPDATE 2024 (SUCCESS GUARANTEED]ALL YOU NEED TO PASS YOUR EXAMS$12.48
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CGFM EXAM 1- STUDY GUIDE | 833 QUESTIONS AND COMPLETE WELL EXPLAINED ANSWERS WITH RATIONALE 100% CORRECT AND VERIFIED BY EXPERTS GRADED A+ LATEST UPDATE 2024 (SUCCESS GUARANTEED]ALL YOU NEED TO PASS YOUR EXAMS
CGFM EXAM 1- STUDY GUIDE | 833 QUESTIONS AND COMPLETE WELL EXPLAINED ANSWERS WITH RATIONALE 100% CORRECT AND VERIFIED BY EXPERTS GRADED A+ LATEST UPDATE 2024 (SUCCESS GUARANTEED]ALL YOU NEED TO PASS YOUR EXAMS
AGA Association of Government Accountants
CEAR Certificate of Excellence in Accounta...
CGFM EXAM 1 - STUDY GUIDE | 833 QUESTIONS AND COMPLETE WELL EXPLAINED ANSWERS WITH RATIONALE 100% CORRECT AND VERIFIED BY EXPERTS GRADED A+ LATEST UPDATE 2024 (SUCCESS GUARANTEED]ALL YOU NEED TO PASS YOUR EXAMS Block grants Intergovernmental provision of resources for broadly defined purposes. Contrasts with category grants. Capital Budget Forecasts and controls spending for "big ticket" items that are acquired and used over a period of several years, such as construction projects and major equipment purchases. Used at state and local levels. Capital lease Capital leases is a lease fo real property that meets defined criteria requiring the government to report the property as it purchased long term debt Cash -flow budget Forecasts the timing as well as amount of cash flows for the year. Used to project required cash levels. Category grants Intergovernmental provision of resources to be used for activities in a specific category of purpose. May be further classified as discretionary grants or formula grants. Contrasts with block grants. Central Management Agencies Government agencies that provide central management services to other components. Example would be a state government hr office (that serves all state agencies) or the OMB at the federal level. CEAR An AGA program that helps federal agencies and their components to produce effective, high -quality Performance and Accountability Reports Certificate of Participation Form of shared government financing. In a typical form, several financial institutions share in a loan arrangement with a government entity. Charter Local government version of a constitution. States may provide for the establishment of local governments through charters checks and balances Process by which one branch of government (legislative, executiv or judicial) can constrain actions of the other branches. Flows from separation of powers. CFO Act 1990 law that, among other provisions, requires the federal government's major executive branch agencies to have a CFO. Prescribes duties and reporting requirements, and requires audited financial statements Commissions Government components established by law, statuted or ordinance. May be permanent or temporary. Because they are established by law, may have greater autonomy and authority than government components that are administratively established. Ex. F ederal Communication Commision Components Organized units of government such as agencies, offices and departments. Found in all branches of government at all levels. Conflict of interest Arises when one has personal interest in matters relating to official duties or activities. Such conflicts can destroy objectivity and independence and prevent the exercise of due care Consumption Taxes Broad category of tax that includes sales, use, excise and value -added taxes Continuity of Operations Refers to the efforts to ensure the organization can sustain essential operations regardless of planned or unplanned incidents or disruptions. AGA Association of Government Accountants CEAR Certificate of Excellence in Accountability Reporting CFO Chief Financial Officer CGFM Certified Government Financial Manager ERP Enterprise Resource Planning FASAB Federal Accounting Standards Advisory Board FASB Financial Accounting Standards Board FSIO Financial Systems Integration Office (within GSA) GAAP Generally Accepted Accounting Principles GAO Government Accountibility Office GASB Government Accounting Standards Board GPRA Government Performance and Results Act OMB Office of Management and Budget PAR Performance and Accountability Report SEA Service Efforts and Accomplishments Accountability Principle that in a democracy, government operates at the consent of the people. Therefore it must answer to the people for its actions and results, including the taking and using of the people's resources. Allotments In the federal government, an agency's distribution of apportioned budgetary authority to various components within the agency. After the executive agency receives its apportionment, it allots budgetary authority to specific components within th e agency. Anti-Deficiency Act At the federal level, a law stating that officials can be fined and/or jailed if they obligate the government to spend funds beyond the legally authorized purpose, time, or amount. Apportionmnets Definitions may vary at different levels of government. At the federal level, OMB's approval to use a protion of the legislatively approved budgetary authority. Appropriated Budget Budget that has been passed by the legistlative branch; has effect of law. Appropriation A legistlative enactment (law, statute or ordinance) that creates spending authority; the legal authority to incur expenses and spend money. Attestation engagements Engagement primarily concerned with examining or performing agreed upon procedures on a subject matter, or an assertion about a subject matter, and reporting on the results. The subject matter may be financial or nonfinancial and ca n be part of a financial audit or performance audit. Possible subjects include reporting on an entity's internal controls, compliance with law or performance measures. Authorization Legislative enactment that approves programs; prescribes what activities an agency may pursue if funding is available.
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