Cfo act of 1990 - Study guides, Class notes & Summaries

What was the predecessor to the Constitution? Articles of Confederation Where are Federal-Level laws enacted? Congress What Article, Section and Clause empowers Congress to collect taxes Article 1, Section 8, Clause 1 What occurs when the President does not sign an enrolled bull within 10 days? Pocket Veto Which branch of government implements laws? Executive Approximately what percent of federal spending is discretionary? 30% How frequently does congress review the DoD budget reques...

Three Broad Government Spending Purposes 1) Current Operations 2) Capital Outlays 3) Debt Service Present Value Analysis - Three Components Determines what $$ Rec'd in Future is Worth Today 1) inflation component - year over year loss in value 2) enterprise component - inherent risk 3) unique component - Budget Accounting and Procedures Act of 1950 Requires the head of each federal agency to establish and maintain I/C's. Federal Managers Financial Integrity Act o...

CGFM Exam 1 ALL(rated A+)question with correct answers 2023doctrine of separation of powers provides a foundation for - correct answer government financial management govt entity can be classed as - correct answer general or special purpose US constitution written - correct answer 1787 Most school district in US - correct answer Independent District Role of federal CFO - correct answer codified in the Chief Financial Officer act of 1990 telework - correct answer working from home ...

CDFM Module 1.2 Questions and Answers Rated A+ Performance of Commercial Activities and Inherently governmental activities is found where? OMB Circular A-76 Reporting on Employment and Personnel Compensation is found in where? OMB Circular A-11 Where can the rules for calculating FTE employment be found? OMB Circular A-11 What term is used to refer to the totality of units in a DOD component? Force Structure What types of activities are excluded from competition under OMB Circular A-76? Inh...

CGFM TEST 3 questions with complete solutions 2023Present Value Analysis - Three Components Determines what $$ Rec'd in Future is Worth Today 1) inflation component - year over year loss in value 2) enterprise component - inherent risk 3) unique component - Budget Accounting and Procedures Act of 1950 Requires the head of each federal agency to establish and maintain I/C's. Federal Managers Financial Integrity Act of 1982 (FMFIA) requires the head of each agency to evalua...

doctrine of separation of powers provides a foundation for - Answer government financial management govt entity can be classed as - Answer general or special purpose US constitution written - Answer 1787 Most school district in US - Answer Independent District Role of federal CFO - Answer codified in the Chief Financial Officer act of 1990 telework - Answer working from home or other remote location Anti-fraud policies - Answer a formal code of conduct frames the behavioral e...

5 Steps of Decision Making Process 1. Identify the Issue 2. Analyze the Issue 3. Develop Alternatives 4. Evaluate the Alternatives 5. Make a Recommendation 14 words, 5 steps Name 3 Critical thinking tools (Identify the Issue) 1. Brainstorming 2. Fishbone (cause and effect) 3. 5 Wise Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More What is the most IMPORTANT step of decision support? Identifying the Iss...

CGFM Final Exam 1 Practice Questions With Correct and Verified Answers 2023 (Graded A+) Authorization - ANSWER-Legislative enactment that approves programs; prescribes what activities an agency may pursue if funding is available Block Grant - ANSWER-One type of formula grant. Block grants combine several service categories into one grant and, thus, allow maximum flexibility to the grantee to use the funds to meet local needs Capital Budget - ANSWER-Forecasts and controls spending for "big-...

CGFM Exam 1 ALL questions with complete solutions 2023doctrine of separation of powers provides a foundation for government financial management govt entity can be classed as general or special purpose US constitution written 1787 Most school district in US Independent District Role of federal CFO codified in the Chief Financial Officer act of 1990 telework working from home or other remote location Anti-fraud policies a formal code of conduct fr...

CGFM exam 3: Section 3, Chapter 1 - Internal Controls fully solved 2023Federal laws on internal controls began with? - correct answer Budget and Accounting Procedures Act of 1950, which requires each federal agency head to establish and maintain internal controls. Federal Financial Managers' Financial Integrity Act of 1982 (FMFIA) - correct answer requires (1) GAO to prescribe internal control standards, and (2) federal managers to annually (a) evaluate their implementation of internal contr...