Cgfm exam 1 stuvia - Study guides, Class notes & Summaries

AGA - Answer Association of Government Accountants CEAR - Answer Certificate of Excellence in Accountability Reporting CFO - Answer Chief Financial Officer CGFM - Answer Certified Government Financial Manager ERP - Answer Enterprise Resource Planning FASAB - Answer Federal Accounting Standards Advisory Board FASB - Answer Financial Accounting Standards Board FSIO - Answer Financial Systems Integration Office (within GSA) GAAP - Answer Generally Accepted Accounting Princip...

Federalism - Answer Power is distributed among different levels of government, no one level has complete authority Sovereignty - Answer National government cant be sued by states or citizens without its permission Popular Sovereignty - Answer Citizens hold ultimate authority through the ballot; even a sovereign government is accountable to citizens Primary Purpose of Government - Answer Provide services to its citizens 10th Amendment - Answer Aka - reserved Clause National governm...

Government Sovereignty - Answer Nat'l government can't be sued by states or by citizens w/out its permission. Government Authority - Answer Derived from constitutions or charters (local versions of a constitution), statutes, executive orders & regulations. 3 Levels - Answer 1) National 2) State 3) Local The primary purpose of each is to provide services to citizens. Separate and distinct, yet they may coordinate their efforts. 3 Branches - Answer 1) Legislative 2) Executive 3) ...

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...

Taxes - Answer Resources for gov are derived primarily from Grants and shared revenues - Answer Gobs receive revenue from other levels of gov through Budget - Answer Primary control device in gov Financial reporting - Answer Primary mechanism to demonstrate accountability Financial reports - Answer Shows how much was raised, how it was spent, and whether spending followed the budget Performance reports - Answer Inform users how well gov is operating and whether it is achieving goals...

Difference between a budget in public vs. private sector? - Answer Public sector = Law/Private sector = benchmark for performance and goals for growth Primary control device in Govt? - Answer budget Financial Reports - Answer primary mechanism by which public officials are able to demonstrate accountability. They show how much was raised, how it was spent, and whether spending was in compliance with the budget. State Authority - Answer All the powers not set forth in the constitution ar...

Financial management systems - Answer information systems that support financial managers in accomplishing their tasks and achieving their objectives data visualization - Answer the creation and study of the visual representation of data, meaning information that has been abstracted in some schematic form, including attributes or variables for the units of information. data visualization can serve what purposes - Answer •Strategic - They focus on high-level measures of performance and fo...

Reasons Governments are not Run Like Businesses - Answer 1) Goals and objectives differ considerably from those in the private sector. 2) Exists to provide services, not gain profits. 3) Goals and objectives are sometimes established with input from the public. 4) Resources are derived primarily from taxes; there are no shareholders. 5) No single measure of success; can't use increasing market share, earnings per share, or the fact that it is still in business like private sector corporatio...

How many principles does the AGA/CGFM Code of Ethics consist of? - Answer Four Principles with underlying rules that support each Principle. What is Principle #1? - Answer AGA Members and CGFMs Shall Serve and Support the Public Interest. What is Principle #2? - Answer AGA Members and CGFMs Shall Maintain the Highest Standards of Professionalism and Integrity. What is Principle #3? - Answer AGA Members and CGFMs Shall Remain Objective in Carrying Out their Duties and Responsibilities. ...