The Certified Government Financial Manager CGFM certification is a respected credential that focuses on the public sector financial management at the federal, state and local levels. Also, it provides you with wide knowledge and a high-level of experience needed to be a professional government financial manager. AGA CGFM certification enriches your competency in governmental accounting, auditing, financial reporting, internal controls, and budgeting. Adding CGFM certification to your resume also helps you stand out from the crowd in your profession and expand your career opportunities. Hence, it is one of the best financial certifications.
The Association of Government Accountants (AGA) is a leading association for government financial management professionals. It helps professionals build their competencies through their training events, professional certifications, and ongoing education.
Certified Government Financial Manager Requirements:
In order to earn this certification, first, you need to fill out an online application and agree on the AGA’s Code of Ethics. Second, you need to meet the following requirements:
Education
To take any of the CGFM examinations, you must have a bachelor’s degree from an accredited college or university. If you have a foreign degree, you must provide an evaluation report stating your degree is equivalent to a U.S. degree (bachelor’s or higher) from an accredited college or university.
Experience
CGFM candidates must have at least two years of professional-level experience in government financial management prior to being awarded their designation as a CGFM. The experience requirement is not a prerequisite to sit for the examinations; however, it is a requirement to obtain CGFM certification.
Study Materials
AGA offers three on-site comprehensive courses in order to be a Certified Government Financial Manager
Course 1: Governmental Environment
One- day course that focuses on the organization and structure of government, public accountability, ethics in government, the governmental financing process and other legal and environmental aspects of government. The course is worth 8 CPE hours.
Course 2: Governmental Accounting, Financial Reporting, and Budgeting
Three- day course that studies the general principles of governmental financial accounting and performance reporting, and budgeting, as well as the unique aspects of federal, state and local financial accounting and reporting. The course is worth 24 CPE hours.
Course 3: Governmental Financial Management and Control
Two- day course that looks at internal and management control, auditing, performance measurement, and reporting, financial and managerial analysis and techniques, concepts, and controls. The course is worth 16 CPE hours.
Registration Process
- Read AGA’s Code of Ethics
- Submit a CGFM program application form and fee online; $99 for nonmembers
- Upload a copy of your official transcript in My Path to CGFM.
- Receive an Eligibility Letter
- Schedule and take the CGFM examinations
- Fill out a Work Verification Form
- Receive Your CGFM Certificate
CGFM Exam Details
| CGFM Examinations | I: Governmental Environment | II: Governmental Accounting, Financial Reporting and, Budgeting | III: Governmental Financial Management and Control |
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| Questions | 115 for each | ||
| Duration | Two hours and 15 minutes | 2 hours and 15 minutes | Two hours and 15 minutes |
| Cost | $125 for each | ||
| Place | Pearson VUE |
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CGFM Certification Renewal
You need to renew your certification annually through the following steps:
- Pay the CGFM renewal fee: $65 for nonmembers
- Complete at least 80 hours of Continuing Professional Education (CPE) every two years
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