Get Certificate Of Achievement - Government Finance Officers Association - Gfoa

The CAFR consists of three sections: Introductory, Financial and Statistical. The Introductory section orients and guides the reader through the report. The Financial section presents the entity's basic financial statements as well as notes to the statements and the independent auditors' report.

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The Comprehensive Annual Financial Report (CAFR) is a thorough and detailed presentation of the state's financial condition. It reports on the state's activities and balances for each fiscal year.

The purpose of a CAFR is to be transparent about the use of taxpayers' money and to give the public a detailed accounting of all expenditures. A CAFR accomplishes this by including dozens of basic and more intricate financial reports along with notes, narratives and supporting data.

The foremost purpose of a CAFR is to provide financial transparency and thus, promulgate accountability. When a city or state government issues bonds to fund public projects, CAFR provides insights into the financial functioning of the government, based on which investors can take an informed decision.

The Comprehensive Annual Financial Report (CAFR) is a thorough and detailed presentation of the state's financial condition. It reports on the state's activities and balances for each fiscal year.

A CAFR is a set of financial statements for a state, municipality or other governmental entity that comply with the accounting requirements established by the Governmental Accounting Standards Board (GASB). It must be audited by an independent auditor using generally accepted government auditing standards.

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The Certified Public Finance Officers Program (CPFO) of the Government Finance Officers Association (GFOA) is a broad educational self-study program designed to verify knowledge in the disciplines of government finance.

Citizens and other stakeholders use government financial reports to assess a government's performance and overall financial position in order to hold a government accountable for its actions. At the federal level, the OMB promulgates reporting standards and reviews audited financial statements from each agency.