CGFM Exam 1 2022/2023 with 100% correct answers

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 the 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.