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Prepare for the Exam | Maintain Your CGFM
Preparation for the three CGFM exams is enhanced by identifying topic areas and suggested readings that best fit your learning needs. The exams focus on an awareness and understanding of the governmental financial management environment. In addition, the exams target technical knowledge and professional practice of government financial management in a broad range of settings.
The resources that follow provide a solid base for study and preparation for the exams.
Scores of useful texts are available at local public, college, or technical libraries under such key categories as accounting, auditing, budgeting, and public finance. It may also be useful to scan the libraries' printed reference source entitled Books in Print or search through the electronic catalog of the Library of Congress or access "Government Financial Management Resources on the Internet."
By reviewing topic areas in each of the sections of the enclosed examination content specifications you will be able to determine which sections of the exams will be easier or more difficult from your perspective of prior academic preparation and work experience. You may then select materials to confirm or enhance your knowledge. For example, in a topic area which is familiar, selection of minimal reading may be appropriate; in areas unfamiliar, more extensive readings and course work may be more appropriate.
Sources and Contacts
Review Courses in Government Financial Management
- Overview and Knowledge-Assessment Course
- Courses in Government Financial Management
General List of Study Materials
A. Textbooks that deal with the following matters:
- Government legal structure, roles, authorities and responsibilities
- Government financing
- Managerial principles as applied to government
- Government ethics
- Government accounting and financial reporting
- Cost accounting
- Government budgeting
- Managerial and internal controls
- Government auditing
- Cash management, investment management, credit management/debt collection, procurement management, inventory/supply management, financial management systems and other aspects of financial management, financial and managerial analysis techniques
B. Laws and regulations pertaining to financial management, including, but not limited to:
- Chief Financial Officers Act
- Government Performance and Results Act
- Ethics in Government Act
- Federal Managers' Financial Integrity Act
- Single Audit Act
C. Statements of Concepts and Standards
- Statements of Governmental Accounting Concepts and Statements of Governmental Accounting Standards issued by the Governmental Accounting Standards Board (GASB)
- Statements of Federal Financial Accounting Concepts (SFFAC) and Statements of Federal Financial Accounting Standards recommended by the Federal Accounting Standards Advisory Board (FASAB) and issued by the Office of Management and Budget (OMB) and the General Accounting Office (GAO)
- Government Auditing Standards: 1994 Revision, issued by the GAO
- Other guidance such as the "COSO Report" and JFMIP's "Core Financial Systems Requirements."
D. Current literature on subjects of topical interest, including, but not limited to: