CGFM Bundled Exams Questions and Answers Latest Versions Already Graded A

CGFM TEST 2 QUESTIONS AND ANSWERS ALREADY GRADED A Governments exist to provide services no profit motive, no single measure of success Primary funding source = taxes (involuntary payments, because there is no ability to match services to those who provide the resource) Budget process = primary co...

CGFM Exam 1 All Questions and Answers 100% Pass doctrine 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 cod...

CGFM Exam 1- Study Guide (2023/2024) Already Graded A 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 ...

CGFM TEST 3 QUESTIONS AND ANSWERS GRADED A 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) enterpr...

CGFM Exam: Section 1, Chapter 1 Questions and Answers Already Passed Difference between a budget in public vs. private sector? Public sector = Law/Private sector = benchmark for performance and goals for growth Primary control device in Govt? budget Financial Reports primary mechanism by which pub...

CGFM EXAM 2 Study Guide (2023/2024) Rated A+ 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 Fun...

CGFM Exam 2 - Governmental Accounting (2023/2024) Already Graded A Reasons Governments are not Run Like Businesses 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 inp...

CGFM Exam 3: Section 1, Chapter 4 - Acquisition Management Questions and Answers Graded A The four basic phases in acquiring goods and services are? 1) establishing specifications 2) soliciting supply sources 3) awarding contracts 4) monitoring contractor performance 2 basic methods for soliciting ...

CGFM Test 3 Latest 2023 Graded A+ A-76 Directive issued by OMB that establishes federal policy for the competition of commercial activities Abuse behavior that is deficient or improper when compared with behavior that a prudent person would consider reasonable and necessary business practice given ...

CGFM Part 2 - Comprehensive Review Latest 2023 Graded A+ GASB | Financial Statement Components 1. Auditor's Report 2. MD&A 3. Basic Financial Statements - Government-Wide Financials (Icing) - Fund Financials (Layers) - Notes (Filling that holds the layers together) 4. RSI 5. Combining Statements & ...