AGA CGFM Exam (Certified Government Financial Manager) Detailed Information
What is
CGFM?
Certified Government Financial Manager® (
CGFM®) is a professional certification recognizing the unique skills and special knowledge required of today's government financial managers. It covers governmental accounting, auditing, financial reporting, internal controls and budgeting at the federal, state and local levels.
To earn the
CGFM, individuals must apply for the
CGFM program and meet the following requirements:
Ethics — read and agree to abide by AGA's Code of Ethics
Education — have a bachelor's degree from an accredited college or university
Examinations — pass three comprehensive
CGFM examinations
Experience — have at least two years of professional-level experience in government financial management
CGFM Certification Process
Candidates, view your progress in My Path to
CGFM.
Step 1 — Read AGA's Code of Ethics
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Step 2 — Apply for the
CGFM Program
Submit a
CGFM program application form and fee. The non-refundable
CGFM application fee is $70 for AGA members and $99 for nonmembers. AGA membership is not required for the
CGFM certification.
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Step 3 — Submit Required Degree Documentation
Upload a copy of your official transcript in My Path to
CGFM. This documentation must be received within six months of submitting the application form and before any
CGFM examinations can be taken.
See
CGFM Education Requirement for more information.
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CGFM.png
Step 4 — Receive an Eligibility Letter
Once your application, payment and transcript are received and approved by the Office of Professional Certification, AGA will e-mail you an eligibility letter with instructions on how to schedule your
CGFM examinations. The letter is usually sent out within two weeks of AGA receiving your
CGFM application and transcript. A copy of the letter is available through My Path to
CGFM.
Eligibility Period and Extensions: Your eligibility to take the
CGFM examinations will expire three years from the date of
CGFM application approval. If your eligibility period ends before you pass all three examinations, you will need to reapply as a new candidate and pass all of the examinations during your new eligibility period. Extensions of eligibility may be granted to individuals who have passed at least one of the
CGFM examinations before the end of his or her eligibility period. An extension will not establish a new eligibility period, but offers the candidate an additional 30–60 days to complete all of his or her exams. Extensions will not be granted to individuals who have not passed at least one of the
CGFM examinations.
To request an extension of eligibility, contact AGA’s Office of Professional Certification 30 days before the expiration of your eligibility period via email at aga
CGFM@aga
CGFM.org, fax at 703-562-0361 or mail (AGA, 2208 Mount Vernon Avenue, Alexandria VA 22301).
Step 5 — Submit a Work Verification Form
Fill out a Work Verification Form after you have at least two years of professional-level experience in the U.S. government financial management field. Upload the signed form in My Path to
CGFM. You do not have to submit this form before taking the examinations, but it must be received and approved by AGA before the designation can be granted.
See
CGFM Experience Requirement for more information.
Step 6 — Prepare for the
CGFM Examinations
Prepare for the examinations by attending an instructor-led course, purchasing an AGA study guide or studying other resources. Take
CGFM practice examinations to test your knowledge. To determine the best way to prepare, start by reviewing the
CGFM examinations content outlines.
See Preparing for Examinations for more information.
Step 7 — Schedule the
CGFM Examinations
Follow the instructions on your eligibility letter to register with Pearson VUE, pay for the
CGFM examination(s) and schedule your testing appointments. Each
CGFM examination is $125.
Step 8 — Take the
CGFM Examinations
Take the examinations at a Pearson VUE Professional Testing Center. After you complete a
CGFM examination, you will immediately receive a pass/fail score. If you did not pass your exam, you must adhere to a 30-day waiting period before you can retake it. If you failed a particular exam more than once, your waiting period is 90 days. You can find your exam results and eligibility dates in My Path to
CGFM.
See Examination Scheduling and Procedures for more information.
Step 9 — Receive
CGFM Award Letter
Once you pass all three
CGFM examinations and AGA has approved your Work Verification Form, AGA will send you an official award letter announcing your
CGFM designation. This letter is usually sent out within three weeks after a candidate completes the last
CGFM requirement.
Note: The
CGFM designation may not be used until you’ve received an official AGA award letter.
Step 10 — Receive Your
CGFM Certificate and Maintain Your Certification
The official
CGFM certificate is usually sent 6–10 weeks after your AGA award letter. Remember to maintain your
CGFM in active status.
Important Tips for
CGFM Candidates:
Understand there is no "one-size-fits-all" approach to studying for the
CGFM examinations. Candidates need to consider their learning preferences, prior knowledge, experience, time and budget in determining the best way to prepare. While AGA courses and study guides provide an excellent foundation in studying for the
CGFM examinations, and many candidates find them to be sufficient in their preparation, some individuals may need to go beyond the study guides and review additional materials.
Review the
CGFM examinations sample questions. These questions are most similar, in both format and type, to the actual
CGFM examinations. Also make sure you are familiar with all of the acronyms used on the examinations.
Use the score report as your guide. If you don’t pass a
CGFM examination, you’ll receive an instant report that shows your performance by content area. Use that information to help you focus your study preparation.
CGFM Examinations Requirement
The three comprehensive examinations that make up the core requirement of the
CGFM program are:
Examination 1: Governmental Environment (GE)
Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB)
Examination 3: Governmental Financial Management and Control (GFMC)
The three links above are to the examinations content outlines—a list of subject areas covered by each examination. It is a core document for all
CGFM candidates and should be a starting point for exam preparation.
To reflect the recent changes in government financial management regulations, some of the content of
CGFM examinations was updated July 15, 2016. The regulations include currently effective GASB statements, GAO’s Green Book, DATA Act and Uniform Guidance. These changes only affect the relevant questions; the overall exam content outlines have not changed. Please see Exam 2 content outline for more detail on a terminology change.
Association of Government Accountants
Certified Government Financial Manager Examinations
Acronyms used on
CGFM Examinations I, II and III
(Revised examinations, 2014)
AGA: Association of Government Accountants
AICPA: American Institute of Certified Public Accountants
CAFR: Comprehensive Annual Financial Report
CFO: Chief Financial Officer
CGFM: Certified Government Financial Manager
DCAA: Defense Contract Audit Agency
ERP: Enterprise Resource Planning
FASAB: Federal Accounting Standards Advisory Board
FASB: Financial Accounting Standards Board
FIFO: First-in, First-out
GAO: Government Accountability Office
GASB: Governmental Accounting Standards Board
GFOA: Government Finance Officers Association
GPRA: Government Performance and Results Act
ISF: Internal Service Fund
LIFO: Last-in, First-out
MD&A: Management’s Discussion and Analysis
OMB: Office of Management and Budget
OPEB: Other Post-Employment Benefits
PAR: Performance and Accountability Report
RSI: Required Supplementary Information
SEA: Service Efforts and Accomplishments
SEC: Securities and Exchange Commission
SFFAS: Statement of Federal Financial Accounting Standards
SSAE: Statements on Standards for Attestation Engagements
Certified Government Financial Manager® (
CGFM®)
The
CGFM® Training Series provides you with a broad base of knowledge in auditing, accounting, financial management, and budgeting. These courses provide the advanced knowledge and instill the confidence you need to sit for each of the three examinations required as part of the Association of Government Accountants'
CGFM® program.
The
CGFM® Training Series consists of three courses:
Governmental Environment (1 day, 8 CPEs)
Governmental Accounting, Financial Reporting and Budgeting (3 days, 24 CPEs)
Governmental Financial Management and Control (2 days, 16 CPEs)
Each course includes AGA's
CGFM® study guide.
CGFM® is a professional certification recognizing the unique skills and special knowledge required of today's government financial managers at the federal, state and local levels.
Why earn the
CGFM® designation?
Enhanced marketability throughout all levels of government
Portable and tangible indicator of experience and knowledge
Better understanding of the "big picture" of government
Greater confidence on the job
