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A Certified Government Financial Manager (CGFM) is a professional certification issued by the Association of Government Accountants (AGA) in the United States. It was created in 1994 to provide a professional standard of financial expertise and ethics in government and a standard by which government financial management professionals are measured.
Zero-based budget is a budgeting approach that requires justifying every dollar spent, rather than basing the budget on the previous year's spending. This approach forces government entities to critically evaluate every expense and prioritize resources based on the highest impact and greatest need.
The government budget is both a product of government administration and political democratization. [7] The emergence of the capitalist mode of production and the high level of development of the commodity economy led to an expansion of the state's financial resources and a massive increase in both revenue and expenditure.
It is also ranked 36th in the field of public management and leadership; and ranked 16th in the areas of public finance and budgeting. [ 8 ] The Master in Public Administration program is accredited [ 9 ] by the National Association of School of Public Affairs and Administration (NASPAA) and is also the only MPA program in the state of Delaware ...
In practice, government budgeting or public budgeting is substantially more complicated and often results in inefficient practices. Government can pay for spending by borrowing (for example, with government bonds), although borrowing is a method
This implies that fiscal policy is used to stabilise the economy over the course of the business cycle. [2] Changes in the level and composition of taxation and government spending can affect macroeconomic variables, including: aggregate demand and the level of economic activity; saving and investment; income distribution; allocation of resources.
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Government must prepare a budget to create a surplus. [8] Three other canons are: Canon of elasticity – it says there should be enough scope in expenditure policy.government should be able to increase or decrease it according to the period. Canon of productivity – public expenditure should encourage production efficiency of the economy.