Course Overview:
The Financial and Managerial Accounting Associate (FMAA) program by the Institute of Management Accountants (IMA) is designed to empower individuals with a strong foundation in accounting and financial management. This entry-level certification is a perfect first step into the accounting world for those starting their careers, university students, beginner accountants, busy professionals or anyone seeking to demonstrate their accounting capabilities quickly.
Course objectives:
Understand Basic Accounting Principles
- Introduce learners to the core principles of financial accounting, such as recording business transactions, preparing financial statements, and understanding key accounting concepts like assets, liabilities, and equity.
Learn Financial Statement Preparation and Interpretation:
- Teach participants how to prepare and interpret key financial statements (e.g., income statement, balance sheet, and cash flow statement) to understand an organization's financial position
Develop Financial Analysis Skills:
- Equip learners with skills to analyze financial statements, including the use of ratios and other tools to evaluate business performance and financial health.
Introduce Managerial Accounting Concepts:
- Provide an understanding of key managerial accounting topics, such as cost behaviors, cost-volume-profit analysis, budgeting, and performance evaluation, which support internal decision-making processes.
Enhance Decision-Making Abilities:
- Teach students how to use financial and managerial accounting information to make informed business decisions, improve operational efficiency, and manage costs.
Provide an Overview of the Accounting Cycle:
- Ensure that learners grasp the full accounting cycle, from journalizing transactions to preparing trial balances, adjusting entries, and closing books.
Prepare Learners for Professional Certifications:
- Lay the groundwork for students who may wish to pursue advanced accounting certifications like the Certified Management Accountant (CMA) or Certified Public Accountant (CPA).
Develop Ethics and Professionalism in Accounting:
- Introduce the importance of ethics in financial reporting and managerial decision-making, aligning with the IMA's focus on professional and ethical behavior in accounting practices.
These objectives aim to provide participants with a comprehensive understanding of both financial and managerial accounting principles, preparing them for entry-level roles in accounting or further education in the field.
Target Audience:
University Students, High-school students, Early-career professionals, Career Changers, non-accounting Professionals.
The FMAA is intended to provide a foundation for individuals who may later pursue more advanced certifications, such as the Certified Management Accountant (CMA) or Certified Public Accountant (CPA).
Delivery Method:
In-Person Classes
Course Outline:
With a comprehensive curriculum covering general accounting, financial statement analysis, planning, budgeting, cost management, and professional ethics, the FMAA equips candidates with essential skills needed in today’s business realm.
Modules includes:
- General accounting and financial management (25%)
- Financial statement preparation and analysis (25%)
- Planning and budgeting (20%)
- Cost management and performance metrics (20%)
- Professional ethics (10%)
What's involved in the exam?
The FMAA Exam is a single, computer-based, 2-hour exam in English or Arabic. The exam is administered by the Institute of Management Accountants (IMA).
The exam windows are January, March, June & September. *Dates are subject to change
Course & Exam Fees:
The FMAA exam cost is $299 USD.
QFBA’s FMAA Course
Below are the details of our students' most popular study package, QFBA's FMAA Live (in-person) Course.
