The Association of Government Accountants (AGA) administers The Certified Government Financial Manager (CGFM) Program, which is the standard that measures Government Financial Managers. The certification indicates that the candidate has met stringent standards of ethical practice and is eminently qualified and experienced Financial Manager.
- A completed Graduate degree from an accredited college or university
- A 24 months semester study of financial management course, accounting, auditing, budgeting, economics, public administration, finance resource management, etc.
The CGFM Exam comprises of three exams, each exam of two hours 15 minute duration.
Exam 1(Governmental Environment, 115 questions)
- Organization, structure and authority of government-15%
- Legal Government environment-25%
- Management system of government-15%
- Financial process of government-25%
- Ethics in government, financial management and skills-20%
Exam 2 (Government Financial accounting, budgeting and reporting, 115 questions)
- Government financial budgeting, accounting, reporting-40%
- Local and state financial reporting and accounting-30%
- Financial reporting and accounting at the Federal level-30%
Exam 3 (Government financial management and control, 115 questions)
- Internal controls-25%
- External and internal auditing-25%
- Measurement of performance report-13%
- Managerial and financial control, techniques, analysis and concept-37%
Study Material and Preparation
- The AGA offers three study guides and a list of reference materials required for comprehensive studying.
- Attend Instructor led training courses.
- Stay in touch with the local AGA chapter for better resources.
- Practice the sample questions.
Candidates receive an immediate pass/fail result after each CGFM exam. If the candidate is successful he/she receives a pass report, if unsuccessful, candidates receive a scaled score and performance by content area, which can be used to identify areas where your shortcomings are. CGFM use a scale of 200-700 with 500 as the passing score.
Maintaining the CGFM
- Annually pay the CGFM renewal fee.
- Abide by the AGA Code of Ethics
- Complete and maintain a record of 80 hours of Continuing Professional Education (CPE) every two years.
Date: July or August 2014
Fee: Examination fee: $109