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Are you an early career professional looking to make a mark in the world of finance and accounting? Morgan International is thrilled to introduce to its portfolio of training courses the Institute of Management Accountants’ (IMA) newest addition to the Financial and Managerial Accounting Associate (FMAA) certification. Designed to equip you with the fundamental knowledge and competencies essential for success in the field, the FMAA’s modules brings forward several benefits and advantages to your career. We delve into them in this blog!

Understanding the FMAA Certification

The FMAA is a certification aimed at providing professionals early in their careers with the foundational knowledge required in accounting and finance. It covers five content domains, ensuring a comprehensive understanding of essential concepts:

General Accounting and Financial Management25%Lay the groundwork with a broad understanding of accounting and financial management principles.
Financial Statement Preparation and Analysis25%Dive into the intricacies of preparing and analyzing financial statements to gain insights into an organization’s financial health.
Planning and Budgeting20%Learn the art of effective planning and budgeting, crucial for successful financial management.
Cost Management and Performance Metrics20%Explore strategies for cost management and understand the significance of performance metrics in evaluating business success.
Professional Ethics 10%Cultivate ethical practices in the financial and managerial realms, ensuring integrity in every decision.

Benefits of Earning the FMAA

Embarking on the FMAA journey comes with a myriad of short and long-term advantages:

  • Gain Confidence: Speak the global language of business, accounting, and finance with confidence.
  • Demonstrate Your Skillset: Apply managerial accounting and finance principles to real-world situations, enhancing your value to employers.
  • Advance Your Career: Take the first step in your certification journey and launch your career with impact.
  • Stand Out: Differentiate yourself as a certified professional, meeting the global standard of accounting and finance fundamentals.

Clearing the Air: Your Burning Questions Answered

  • Prerequisites: No prerequisites are required nor do you need to be an IMA member to sit for the exam.
  • Exam Format: A two-hour 80 multiple-choice question exam
  • Exam Location: Unfortunately, the exam is not available remotely; candidates must visit Prometric test centers available globally.
  • Exam Windows: The English exam opens in March 2024, followed by the Arabic exam in November 2024. Future plans include on-demand availability at test centers.
  • IMA Costs: The regular exam price is USD 299, with an annual renewal fee of USD 49 and 15 CPE credits per year to ensure the longevity of your certification.