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Chief Financial Officer (CFO)

A senior official in a federal agency responsible for managing all financial aspects, including budgeting, accounting, and financial reporting.

Governmentwide Financial Management Plan

A comprehensive strategy outlining how the entire federal government plans to manage its finances over a specific period, typically to improve efficiency and accountability.

Generally Accepted Accounting Principles (GAAP)

A common set of accounting rules, standards, and procedures issued by the Financial Accounting Standards Board that companies and organizations must follow when compiling their financial statements.

Comptroller General

The head of the U.S. Government Accountability Office (GAO), who is responsible for auditing government programs and spending and providing independent, nonpartisan analyses to Congress.

Office of Management and Budget (OMB)

A component of the Executive Office of the President that oversees the implementation of the President's vision across the Executive Branch and manages the federal budget.

Performance-based financial management metrics

Specific, measurable targets used to assess how well an agency is managing its financial resources in relation to achieving its goals and objectives.