Cpfo exam - Study guides, Class notes & Summaries

CPFO Final Accounting Exam Part 4 What is the minimum required for presentation of external financial statements in order to conform with GAAP? - Correct Answer-Only the basic financial statements What makes up the RSI information in the ACFR - Correct Answer-MD&A & Other RSI What is included in the mandatory reporting? - Correct Answer-MD&A Basic financial statements Other RSI What is included in the basic financial statements? - Correct Answer-Government-wide Funds - Governmental, Prop...

CPFO Final Accounting Exam Five components of Fund Balance - Correct Answer-Nonspendable Restricted Committed Assigned Unassigned Six essential characteristics of accounting data for inclusion in the GPEFR? - Correct Answer-Understandable to someone with a reasonable understanding of government and public finance activities & of the fundamentals of governmental financial reporting Reliable - not precise because estimates are acceptable Relevant - Should make a difference in how users a...

CPFO Debt Exam Intergenerational Equity - Correct Answer-Balancing the needs of the young and old. Specifically, often referred to as the idea that U.S. government entitlements, such as Medicare and Social Security, "over-benefit" the elderly at the expense of other age groups. Key variable for length of time bonds are issued - Correct Answer-Life of asset financed Factors for revenue bond limits - Correct Answer-Ability and willingness to raise rates and to maintain market accepted deb...

CPFO Operating and Capital Budgeting Sample Exam with A+ Answers Which of the following is an essential feature of a good budget process, as defined by the National Advisory Council on State and Local Budgeting (NACSLB)? a) Focuses budget decisions on results and outcomes b) Involves and promotes effective communication with stakeholders c) Establishes linkages to broad organizational goals d) All of the above - Correct Answer-d) All of the above Which of the following is a true statemen...

CPFO 2023 MULTIPLE EXAM QUESTIONS AND ANSWERS RATED A.CPFO 2023 MULTIPLE EXAM QCPFO 2023 MULTIPLE EXAM QUESTIONS AND ANSWERS RATED A.CPFO 2023 MULTIPLE EXAM QUESTIONS AND ANSWERS RATED A.CPFO 2023 MULTIPLE EXAM QUESTIONS AND ANSWERS RATED A.CPFO 2023 MULTIPLE EXAM QUESTIONS AND ANSWERS RATED A.CPFO 2023 MULTIPLE EXAM QUESTIONS AND ANSWERS RATED A.UESTIONS AND ANSWERS RATED A.

What is the minimum required for presentation of external financial statements in order to conform with GAAP? - Correct Answer-Only the basic financial statements What makes up the RSI information in the ACFR - Correct Answer-MD&A & Other RSI What is included in the mandatory reporting? - Correct Answer-MD&A Basic financial statements Other RSI What is included in the basic financial statements? - Correct Answer-Government-wide Funds - Governmental, Proprietary, Fiduciary Notes to t...