CGFM Study Guide

Master the CGFM exams with 90+ flashcards, 45+ practice questions, an 80-term glossary, and formulas across all three AGA examinations.

Prepare for AGA's Certified Government Financial Manager (CGFM) certification with a focused, comprehensive study companion.

CGFM Study Guide organizes everything around the three CGFM examinations and their weighted content areas, so you study exactly what each exam tests.

WHAT'S INSIDE

• 90+ flashcards, tap to flip, tagged by content area
• 45+ multiple-choice practice questions with instant feedback and full explanations
• 80+ glossary terms and key acronyms, fully searchable
• Government financial-management formulas with variables and usage notes

EXAMINATION 1 - GOVERNMENTAL ENVIRONMENT

• Organization, structure, and authority of government; federalism and Dillon's Rule
• Legally based implications: appropriations, the Antideficiency Act, authorization vs. appropriation
• The government management system (budget cycle) and strategic planning
• Governmental financing: taxes, grants, GO vs. revenue bonds, debt capacity
• Public accountability, interperiod equity, ethics, and e-government / information security

EXAMINATION 2 - ACCOUNTING, FINANCIAL REPORTING & BUDGETING

• Standard setters (GASB, FASAB, FASB); cash, accrual, and modified accrual; fund accounting
• Budgeting approaches (line-item, performance, zero-based) and capital budgeting
• State & local reporting: fund types, GASB 34 statements, GASB 54 fund balance, the ACFR
• Federal reporting: SFFAS, proprietary vs. budgetary accounting, apportionment, the federal statements

EXAMINATION 3 - FINANCIAL MANAGEMENT & CONTROL

• Cash and investment management (safety, liquidity, yield), procurement (IFB vs. RFP), asset management
• Analysis techniques: time value of money, NPV, cost-benefit, breakeven, ratios, data analytics
• Internal control: the COSO framework / GAO Green Book, segregation of duties, the fraud triangle, ERM
• Performance measurement / SEA: inputs, outputs, outcomes, efficiency vs. effectiveness, benchmarking
• Auditing: the Yellow Book (GAGAS), the Single Audit Act, audit opinions, material weaknesses

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This app is an independent study aid and is not affiliated with, endorsed by, or sponsored by AGA (the Association of Government Accountants) or its CGFM program.