CGFM Study Guide

Three CGFM exams. One focused study companion.

CGFM Study Guide organizes everything around AGA's three examinations and their weighted content areas, so you study exactly what each exam tests — nothing more, nothing less.

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, procurement (IFB vs. RFP), asset management
• Analysis techniques: time value of money, NPV, cost-benefit, breakeven, ratios, data analytics
• Internal control: COSO / GAO Green Book, segregation of duties, the fraud triangle, ERM
• Performance measurement / SEA: inputs, outputs, outcomes, 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.