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The Certified Government Financial Manager (CGFM) certification is a nationally recognized professional credential that showcases expertise in governmental financial management. Designed for professionals working in federal, state, and local governments, the CGFM designation demonstrates a deep understanding of the unique financial processes and responsibilities within the public sector.
With increasing demand for accountability, transparency, and performance in government operations, the CGFM designation helps financial professionals stand out by validating their knowledge and competence in public sector financial management. Whether you work in budgeting, auditing, accounting, or financial reporting, becoming a CGFM can enhance your career prospects and professional credibility.
Key Benefits
Recognition as an expert in government financial management
Enhanced career opportunities and earning potential
Increased knowledge of government accounting and reporting standards
Improved ability to contribute to effective public resource management
To earn the CGFM designation, candidates must meet three primary requirements:
Education Requirement – A bachelor's degree from an accredited U.S. college or university.
Experience Requirement – At least two years of professional-level experience in government financial management.
Examinations Requirement – Passing all three CGFM examinations.
The CGFM program consists of three rigorous examinations that assess a candidate's knowledge across various areas of government financial management. Here’s a breakdown of each exam:
Examination 1: Governmental Environment (GE)
This exam covers the organizational structure, legal and regulatory framework, and the role of ethics and accountability in government. Topics include:
●Governmental structure and functions
●Intergovernmental relationships
●Legal and regulatory environment
●Ethical standards and responsibilities
●Governmental roles in financial management
Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB)
Focused on the principles and practices of government accounting and financial reporting, this exam evaluates knowledge of:
●Budgeting concepts and techniques
●Accounting standards and reporting for federal, state, and local governments
●Financial statement preparation and analysis
●Fund accounting and financial management systems
Examination 3: Governmental Financial Management and Control (GFMC)
The third exam addresses internal controls, performance measurement, auditing, and risk management in a government setting. Core areas include:
●Internal controls and risk assessment
●Performance auditing and evaluation
●Financial management systems and techniques
●Compliance and accountability
Preparation is key to passing the CGFM exams. AGA offers study guides, practice exams, and other resources. Candidates are encouraged to create a study plan, use multiple study materials, and engage in review sessions or study groups.
The CGFM certification is ideal for:
●Government accountants and auditors
●Budget analysts and financial managers
●CPAs working with government clients
●Professionals in agencies at all levels of government
The CGFM certification is a mark of excellence for professionals in the field of government financial management. By completing the CGFM program and passing its three comprehensive examinations, candidates not only validate their expertise but also position themselves as leaders committed to transparency, accountability, and effective financial stewardship in the public sector.
