CGFM Study guides, Class notes & Summaries

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...

Non-Spendable Fund Balance Assets not in spendable form-Inventories and prepaid items, principal of a permanent fund which may not be spent, and assets held for sale and long-term receivables. Examples: Supplies, inventory, membership fees Restricted Fund Balance Subject to constraints imposed by external parties or law. Debt covenants (such as a requirement for a sinking fund) or constraints imposed by legislation or federal and state agencies, creditors, contributors or granting agenc...

CGFM EXAM 1 2024 WITH 100% CORRECT ANSWERS Federalism - correct answer Power is distributed among different levels of government, no one level has complete authority Sovereignty - correct answer National government cant be sued by states or citizens without its permission Popular Sovereignty - correct answer Citizens hold ultimate authority through the ballot; even a sovereign government is accountable to citizens Primary Purpose of Government - correct answer Provide services to i...

CGFM Exam 2 | CGFM Exam 2 (2024) Questions With 100% Solved Answers!

CGFM Exam 1 Complete Questions And Answers | 2024 Latest Quiz CGFM Exam 1 Complete Questions And Answers | 2024 Latest Quiz

CGFM TEST 3 Questions And Answers With Verified Study Solutions CGFM TEST 3 Questions And Answers With Verified Study Solutions

CGFM TEST 1 EXAM 2024 WITH 100% CORRECT ANSWERS Compare and contrast the concepts of "government sovereignty" and "popular sovereignty" - correct answer Gov sov means the national gov can't be sued by states or citizens without its permission. Pop sov means citizens hold ultimate authority through the ballot and is accountable to citizens. What is the implication of the "reserved clause" in the 10th ammendment? - correct answer Powers not delegated to the nat gov, nor prohibited to ...

CGFM EXAM 1 2024 WITH 100% CORRECT ANSWERS I1. A significant difference between special-purpose and general-purpose governments is that general-purpose governments - correct answer Correct Answer: perform multiple functions, while special-purpose governments are typically formed to perform one or two specific functions. I2. A commission that manages water and sewer services for several counties is an example of a - correct answer Correct Answer: jointly-governed organization. I3. A c...

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 – Ans Wer- 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...

CGFM EXAM 1- STUDY GUIDE