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Financial Management & Budgeting Flashcards

6 cards from real CFD practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 6 Financial Management & Budgeting flashcards as text

  1. What is budget variance analysis in CFD financial management?

    Answer: Comparing actual spending against budgeted amounts to explain differences

    Variance analysis compares actual results against budget, calculating differences and investigating causes.

  2. What differentiates fixed from variable costs in CFD?

    Answer: Fixed costs stay constant; variable costs change with volume

    Fixed costs (rent, salaries) remain constant; variable costs (materials, commissions) fluctuate with activity volume.

  3. What is cash flow management in CFD practice?

    Answer: Optimizing the timing of money coming in and going out

    Cash flow management tracks and optimizes the timing of inflows and outflows to ensure sufficient funds.

  4. What is financial forecasting in CFD practice?

    Answer: Predicting future conditions based on historical data and trends

    Forecasting uses historical data and trends to project future financial conditions, supporting strategic planning.

  5. What is an internal control in CFD financial management?

    Answer: A process providing assurance about financial reporting reliability

    Internal controls safeguard assets, ensure accurate reporting, promote efficiency, and ensure compliance.

  6. What does ROI measure in CFD financial analysis?

    Answer: Gain or loss relative to the investment amount

    ROI compares net gain or loss to initial investment cost, helping compare profitability of different options.

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Sources & references

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  1. aifd.org — Passing score, registration deadline, fees, renewal, registration, test dates, time limit, score validity · verified Oct 2026