CGFM Study References

The CGFM certification represents an encompassing body of knowledge and professional expertise across a wide range of topics. Few professionals come through the certification process with experience ranging the full spectrum of the examination content areas. Preparation for the three CGFM examinations is enhanced by identifying topic areas and suggested readings that best fit your experience, education and learning needs. By reviewing topic areas in the examination content outlines, you will be able to determine which sections of the exams will be easier or more difficult for you and then select materials to confirm or enhance your knowledge. For example, in a topic area that is familiar, selection of minimal reading may be appropriate; in areas outside of your realm of education or experience, more extensive readings and course work may be appropriate. The resources that follow provide a solid base for study and preparation for the exams. They were also used as references by examination question writers.

Examination 1: Governmental Environment (GE)

  • 5 CFR Part 2635: Standards of ethical conduct for employees of the executive branch
  • AGA Code of Ethics
  • AGA Study Guide I
  • AICPA Twitter User Guide
  • Budget of the United States, Government Analytical Perspectives
  • Budgetary Glossary, GAO-05-734SP 
  • CFO Act of 1990
  • Debt Issuance, GFOA, 2nd edition
  • Executive Order 12674 and 12731: Principles of Ethical Conduct for Government Officers and Employees
  • FASAB Concepts Statement No. 1
  • Federal Accounting Handbook; C. Tierney, E. Kearney, R. Fernandez, J. Green, 2nd edition
  • Federal Information Security Management Act of 2002
  • GASB Statements, Concepts Statements, Interpretations, and Technical Bulletins 
  • Government Auditing Standards, GAO, 2011edition ("Yellow Book")
  • Government Auditing Standards and Practices; C. Tierney, 5th edition
  • Governmental Accounting, Auditing and Financial Reporting, GFOA
  • Government Performance Results Act, 1993
  • GPRA Modernization Act, 2010
  • Handbook of Governmental Accounting and Finance; N. Apostolou, D. Crumbley, 2nd edition
  • Implementing Performance Measurement in Government, GFOA, J. Leithe
  • Introduction to Government and Not-for-Profit Accounting; M. Ives, J. Razek, G. Hosch, 5th edition
  • Moving to the Next Stage of Federal Financial Reporting, KPMG
  • OMB Analytical Perspectives
  • OMB Circular A-11
  • OMB Circular A-123 
  • OMB Circular A-136
  • OMB Memorandum 04-04
  • OMB Uniform Guidance
  • Public Dollars Common Sense; W. Phillips, B. Brown, C. Kinghorn, A. West, 1997
  • Recommended Budget Practices, National Advisory Council on State and Local Budgeting, GFOA, 1998
  • Security and Privacy Controls for Federal Information Systems and Organizations, NIST
  • Tax-Exempt Financing: A Primer, Public Finance Network
  • Technologies for Government Transformation, GFOA
  • The 2011 KPMG Federal Word Book
  • The Federal Budget Politics, Policy and Process, A. Schick
  • The Unfunded Mandate Act - Section 1501
  • Understanding Federal CFO Responsibilities, KPMG, 1993
  • U.S. Constitution; Preamble, Articles I and III
  • U.S. Government Manual, 2001
  • What You Should Know About Your Local Government's Finances: A Guide to Financial Statements (GUG01), GASB

Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB)

  • 31 USC 1535
  • AGA Study Guide II
  • AICPA Audit and Accounting Guide, Audits of State and Local Governments
  • Budgetary Accounting in the Federal Government, U.S. Dept. of the Treasury, 1996
  • Budgetary Glossary, GAO-05-734SP
  • CFO Act of 1990
  • Debt Issuance, GFOA, 2nd edition
  • Essentials of Accounting for Governmental and Not-for-Profit Organizations; P. Copley
  • FASB Overview Concepts, Standards and Statements
  • Federal Accounting Handbook; C. Tierney, E. Kearney, R. Fernandez, J. Green, 2nd edition
  • Federal Financial Management Improvement Act of 1996
  • Financial & Managerial Accounting; J. Williams, S. Haka, M. Bettner, J. Carcello, 14th edition
  • Financial Audit Manual, Volume 3, GAO, 2007
  • GASB Codification, Original Pronouncements and Comprehensive Implementation Guide
  • Governmental Accounting, Auditing and Financial Reporting, GFOA
  • Government Management Reform Act of 1994
  • Guide to the Federal Budget, FY 2000, S. Collender
  • Introduction to Government and Not-For-Profit Accounting; M. Ives, J. Razek, G. Hosch, 5th edition
  • Memorandum of Understanding among the GAO, Treasury and OMB on federal government accounting standards and FASAB
  • National Action Plan for the USA, Open government partnership, 2011
  • OMB Bulletin No. 06-03
  • OMB Circular A-11 
  • OMB Circular A-136
  • OMB Memorandum M-07-03 "Business Rules for Intragovernmental Transactions"
  • OMB Uniform Guidance
  • Principles of Federal Appropriation Law, GAO
  • Statements of Federal Financial Accounting Concepts and Standards, FASAB, 2007
  • Tax-Exempt Financing: A Primer, Public Finance Network
  • TFM Bulletin 2011-04
  • The 2011 KPMG Federal Word Book
  • The International Public Sector Accounting Standards Board overview, IFAC
  • Treasury Financial Manual, U.S. Dept. of the Treasury
  • U.S. Government Standard General Ledger, U.S. Dept. of the Treasury
  • What Else You Should Know about a Government's Finances, GASB

Examination 3: Governmental Financial Management Control (GFMC)

  • 31 USC 1533
  • ACFE Fraud Triangle
  • AGA Study Guide III
  • AICPA Audit and Accounting Guide, Audits of State and Local Governments
  • AICPA Statements on Auditing Standards 
  • Cash Management Improvement Act of 1990
  • CIM: Principles of Computer Integrated Manufacturing; J.B. Waldner
  • COSO Enterprise Risk Management Framework
  • Debt Collection Improvement Act
  • Evaluating Internal Controls, GFOA, S. Gauthier
  • Federal Acquisition Regulation
  • Federal Financial Management Improvement Act
  • Federal Government Auditing; E. Kearney, R. Fernandez, J. Green, C. Tierney, 2006
  • Financial Accounting; E. Hanson, J. Hamre, P. Walgenbach, 7th edition
  • FINFIA Act of 1982
  • Fraud 101; H. Davia 2000
  • Fraud and the Responsibilities of the Government Audit Committee, AICPA
  • Fraud Auditing and Forensic Accounting; T. Singleton, A. Singleton, G. Bologna, R. Lindquist, 3rd edition
  • Fraud Prevention - An Investment No One Can Afford to Forego; G. Adams, The CPA Journal, January 2007
  • GAAP
  • GAO/PCIE Financial Audit Manual - Oct. 2007 Exposure Draft - GAO Guide for Evaluating and Testing Controls Over Sensitive Payments
  • GASB Concepts Statement 2
  • Global Investment Performance Standards, News Release, Jan. 9, 2008
  • Government Auditing Standards and Practices; C. Tierney, 5th edition, 2000
  • Government Auditing Standards, GAO, 2011 edition ("Yellow Book")
  • Government Performance Results Act, 1993
  • GPRA Modernization Act, 2010
  • Governmental Accounting, Auditing and Financial Reporting, GFOA
  • Handbook of Governmental Accounting and Finance; N. Apostolou, D. Crumbley, 2nd edition
  • Implementing Performance Measurement in Government, GFOA, J. Leithe
  • Internal Control Management and Evaluation Tool, GAO
  • Management Information Systems; J. O'Brian
  • National Security and Homeland Security Presidential Directive, May 2007
  • NIST Special Publication 800-145 and 800-146
  • OMB Bulletin No. 07-04, Audit Requirements for Federal Financial Statements
  • OMB Circular A-50
  • OMB Circular A-76
  • OMB Circular A-123
  • OMB Circular A-136
  • OMB Memo M-06-13, Competitive Sourcing Under Section 842(a)
  • OMB Uniform Guidance
  • Project Managers Implementing Financial Systems in the Federal Government, JFMIP
  • Recovery Auditing Act
  • Reporting Performance Information - Suggested Criteria for Effective Communication, GASB, August, 2003
  • Revenue Collection Administration, GFOA, I. Allan, 1993
  • Single Audit Act of 1996
  • Standards for Internal Control in the Federal Government, GAO, Nov. 1999
  • Statements of Auditing Standards 47, 54, 55, 99, 85, 107, 112, AICPA
  • Technologies for Government Transformation, GFOA
  • The Privacy Act of 1972, as amended