AGA Certified Government Financial Manager (CGFM) : CGFM

  • Exam Code: CGFM
  • Exam Name: Certified Government Financial Manager (CGFM)
  • Updated: Jul 22, 2026     Q & A: 115 Questions and Answers

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About AGA CGFM Exam

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Certification Topics of AGA CGFM: Certified Government Financial Manager (CGFM) Exam

AGA CGFM exam dumps include the following topics:

Examination 1: Government Environment (GE)

  • Identifying definitions, and the notions of public accountability (12%)
  • The organization, authority and structure of government (15%)
  • Delivering government information and services electronically (8%)
  • The legally-based significance of the government financial environment (15%)
  • Ethics as implemented to the governmental environment (10%)
  • Government management unicycle (16%)
  • Governmental financing procedure (24%)

Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB)

  • Federal financial reporting and accounting (30%)
  • Governmental financial reporting, accounting, and budgeting general knowledge (40%)
  • Local and State financial reporting and accounting (30%)

Examination 3: Governmental Financial Management and Control (GFMC)

  • Managerial and Financial Analysis Techniques (15%)
  • Internal dominance (25%)
  • Auditing (20%)
  • Performance management//service attempt and accomplishments (15%)
  • Financial management (25%)

Introduction to AGA CGFM: Certified Government Financial Manager (CGFM) Exam

Certified State Financial Manager is a professional certification given by AGA, showing expertise in federal, state and local government accounting, auditing, financial reporting, internal control and management. CGFM is a recognized certification that acknowledges the specific expertise and knowledge that a successful financial manager of the Government needs. You may increase your professional possibilities and differentiate yourself from the others in your industry by becoming a CGFM. AGA CGFM exam dumps is the best way to learn all the concepts of the examination.

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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.

For more info read reference

AGA Certification Reference

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

AGA CGFM Exam Syllabus Topics:

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

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