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AGA CGFM exam : Certified Government Financial Manager (CGFM)

CGFM Exam Questions
  • Exam Code: CGFM
  • Exam Name: Certified Government Financial Manager (CGFM)
  • Updated: Aug 11, 2026
  • Q & A: 115 Questions and Answers
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About AGA CGFM Exam Guide

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

AGA CGFM exam dumps include the following topics:

Examination 1: Government Environment (GE)

  • Governmental financing procedure (24%)
  • 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%)

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

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

Examination 3: Governmental Financial Management and Control (GFMC)

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

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

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AGA CGFM exam demo

AGA CGFM Exam Syllabus Topics:

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

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