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Certified Government Financial Manager (CGFM) Examinations
600 questions
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About this exam
The Certified Government Financial Manager (CGFM) Examinations are AGA’s certification exams for professionals working in, or preparing for, government financial management. Accountants in federal, state, and local government, as well as professionals serving public-sector organizations, may pursue the CGFM to demonstrate knowledge of government operations, accounting, and financial oversight. The certification requires candidates to pass three examinations covering the governmental environment, governmental accounting and reporting, and government financial management and control. Check AGA’s current certification requirements for education, experience, ethics, and application details.
CGFM exam preparation calls for more than reviewing general accounting rules: candidates need to understand how public-sector requirements affect reporting and financial decisions. Key topics include fund accounting and fund types, GASB accounting standards, government-wide financial statements, and fund-level financial reporting, alongside budgeting, internal controls, and the governmental environment. Accountants should connect concepts across the three exam areas and practice explaining why a rule applies, not just memorizing terms. A structured review of official exam materials, followed by focused online MCQ practice, can help reveal gaps before test day.
How to prepare for the CGFM examinations
- Review AGA’s current exam content outlines and study resources, then map each topic to the relevant examination, especially governmental accounting, reporting, and financial management and control.
- Build a topic-based review plan for fund accounting, fund types, GASB standards, government-wide statements, and fund-level reporting; use brief notes to compare how each concept affects government reporting.
- Use timed multiple-choice practice after reviewing a topic, and analyze every missed answer to identify whether the gap is terminology, accounting treatment, or applying a concept to a scenario.
FAQ
Who is eligible to take the CGFM examinations?
The CGFM is intended for professionals pursuing knowledge and certification in government financial management. AGA sets requirements covering education, professional experience, ethics, and the application process; candidates should confirm the current criteria with AGA, since requirements may change.
How many exams are required for the CGFM?
Candidates must pass three examinations: Governmental Environment; Governmental Accounting, Financial Reporting and Budgeting; and Governmental Financial Management and Control. Check AGA’s current exam information for delivery, scheduling, and other format details.
What subjects should I study for the CGFM accounting exams?
Review governmental accounting and financial reporting, including fund accounting and fund types, applicable GASB standards, government-wide financial statements, and fund-level reporting. The full CGFM scope also includes the governmental environment, budgeting, financial management, and internal controls, so use AGA’s exam outlines to guide your study.