Grademasters

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...

Three Broad Government Spending Purposes - Answer 1) Current Operations 2) Capital Outlays 3) Debt Service Present Value Analysis - Three Components - Answer 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 - Answer Requires the head of each federal agency to establish and maintain I/C's. Federal Managers Financial Int...

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...

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...

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...

Governments exist to provide services - Answer no profit motive, no single measure of success Primary funding source = - Answer taxes (involuntary payments, because there is no ability to match services to those who provide the resource) Budget process = - Answer primary control device in government US Constitution provides two levels of government - Answer Federal and State State consitituions similar in that each defines the excutive and legislative braches, establishes political o...

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) ...

2 Types of Valuation - Answer relative and intrinsic Relative Valuation - Answer methods that compare the price of a company to the market value of similar assets Intrinsic Valuation - Answer refers to the value of a company through fundamental analysis around its ability to generate cash flow; most common types is a discounted cash flow (DCF) analysis Enterprise value - Answer The total market value of a firm's equity and debt, less the value of its cash and marketable securities. It ...

Which of the following line items do not directly affect stockholder's equity? - Answer Cap ex Which of the following is False? - Answer Repurchasing shares increases equity How is the number of shares repurchased typically calculated in a financial model - Answer Share repurchases/ average price paid per share If debt is reduced, what is the corresponding transaction on the balance sheet? - Answer Cash is reduced An organization purchases a tractor without financing. what impact do...

Board of Directors - Answer Hold management accountable and make board-level decisions about corporate strategy. Company Management - Answer Measure performance and make strategic, operating and financial decisions Creditors - Answer Measure creditworthiness, liquidity and bankruptcy Investors - Answer Make decisions on buying or selling equity investments Acquirers - Answer Determine valuation and make investment decisions Regulators - Answer Determine whether the company is oper...