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Instant Download AGA : CGFM Questions & Answers as PDF & Test Engine

CGFM
  • Exam Code: CGFM
  • Exam Name: Certified Government Financial Manager (CGFM)
  • Updated: Aug 12, 2026
  • No. of Questions: 115 Questions and Answers
  • Download Limit: Unlimited
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AGA Certification Reference

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

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.

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

Exam format of AGA CGFM: Certified Government Financial Manager (CGFM) Exam

Name of the Examination: AGA CGFM: Certified Government Financial Manager (CGFM) Exam

Duration of the exam: 135 minutes

Early-requirement: 2 Year professional Experience

Passing Score: 500

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AGA CGFM Exam Syllabus Topics:

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

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