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AGA CGFM Practice Q&A's

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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.

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

AGA CGFM: Certified Government Financial Manager (CGFM) Exam cost is $125 all over the world, however the prices of the courses varies on the basis of the local currencies of the country.

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

AGA CGFM Exam Syllabus Topics:

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

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