AGA CGFM : Certified Government Financial Manager (CGFM)

  • Exam Code: CGFM
  • Exam Name: Certified Government Financial Manager (CGFM)
  • Updated: Sep 16, 2026
  • Q & A: 115 Questions and Answers

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Reference: https://www.agacgfm.org/CGFM-Certification/About-CGFM.aspx

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If the enrollment period for the candidate ends before all three CGFM tests are passed, then they re-apply for examinations and pass all the exams again. Enhancements to the eligibility period for individuals who have passed certain exams but not all before the end of their period are allowed. And there will be no extensions for those persons who have not cleared their CGFM exam papers. To demand an expansion of enrollment and to receive the right relevant data, notify AGA 30 days even before enrollment period expires. Most of the students prepare well with the help of AGA CGFM exam dumps.

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CGFM study materials are now accessible as a 6-month subscription in the VitalSource bookstore. The guidelines may be accessed on, off and through the bookshelf application. Each chapter and part of the three study guides have been reviewed. Some adjustments were editorial/clear, some represent changes in contents and some reflect changes in rules. Added material, including two new sections in Reference Book 3 and Study Guide 2, will contain fresh language on the fundamental accounting concepts, to match updated test topic outlines. The changes to the regulations include new legislative information and content updates reflect applicable advice of the GASB and the FASAB. The first chapter of the study guideline 3 (audit part) has been revised to match the 2018 Yellow Book version. Examples, pictures, references and appendices were all revised as part of the overall update. Due to the extent of the changes, we suggest that every publishing be reviewed in its completeness. Employees who are not permanently retired from AND in the area of financial management may, by contacting us, seek a modification of their status to “retired.” People should mention their retirement dates and affirm that they do not work in the area of financial management. At the time of retirement the CGFMs must be active so that their status is converted to “retired”, when the CGFM first goes dormant, the person must re-activate the designation before changing the CGFM status to “retired”. Therefore, the retired CGFMs in the second half of the year should reappoint in that year-to prevent their CGFM from becoming inactive and from adapting to a “retired” state. AGA CGFM exam dumps contain all the material which is necessary for the examination.

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How to prepare AGA CGFM: Certified Government Financial Manager (CGFM) Exam

Study guide of AGA CGFM: Certified Government Financial Manager (CGFM) Exam

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AGA CGFM Exam Syllabus Topics:

SectionObjectives
Topic 1: CGFM Exam 3: Financial Reporting, Control, and Analysis- Financial Statement Analysis
  • 1. Liquidity and solvency analysis
  • 2. Ratio analysis
  • 3. Performance evaluation metrics
- Financial Reporting
  • 1. Basic financial statements
  • 2. Management's discussion and analysis (MD&A)
  • 3. Comprehensive annual financial report (CAFR)
- Compliance and Accountability
  • 1. Grant compliance requirements
  • 2. Legal and regulatory compliance
  • 3. Accountability reporting
- Control Frameworks and Systems
  • 1. IT controls and security
  • 2. COSO internal control framework
  • 3. Monitoring activities
- Auditing in the Government Environment
  • 1. Audit planning and reporting
  • 2. Single Audit Act
  • 3. Government auditing standards (GAGAS)
Topic 2: CGFM Exam 1: Financial Management- Strategic Planning and Performance Measurement
  • 1. Strategic planning concepts
  • 2. Performance measurement frameworks
  • 3. Balanced scorecard
- Budgeting and Budget Preparation
  • 1. Capital budgeting
  • 2. Budget preparation techniques
  • 3. Budget cycle and process
- Financial Management and Analysis
  • 1. Working capital management
  • 2. Financial analysis techniques
  • 3. Cash management
- Revenue, Expenditure, and Expense Recognition
  • 1. Revenue recognition principles
  • 2. Cost accounting concepts
  • 3. Expenditure accounting
- Government Contracting and Procurement
  • 1. Contract administration
  • 2. Contract types and evaluation
  • 3. Procurement processes
- Risk Management and Internal Controls
  • 1. Internal control frameworks
  • 2. Enterprise risk management
  • 3. Control activities
Topic 3: CGFM Exam 2: Governmental Accounting- Fund Accounting and Financial Reporting
  • 1. Modified accrual basis
  • 2. Fund types and classifications
  • 3. Financial statement preparation
- Federal Government Accounting
  • 1. USSGL concepts
  • 2. Federal accounting standards
  • 3. Federal financial reporting
- Principles of Governmental Accounting
  • 1. GAAP for governments
  • 2. Governmental accounting fundamentals
  • 3. Fund accounting concepts
- Budgetary Accounting
  • 1. Budgetary control
  • 2. Budgetary entries
  • 3. Encumbrance accounting
- State and Local Government Transactions
  • 1. Capital projects and debt service funds
  • 2. Special revenue funds
  • 3. General fund accounting
- GASB Standards
  • 1. Financial reporting entity
  • 2. GASB conceptual framework
  • 3. Key GASB pronouncements

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