Early-career individuals can acquire the fundamental knowledge and abilities of accounting and finance with the Financial and Managerial Accounting Associate (FMAA) certification. The Institute of Management Accountants (IMA®) introduced FMAA, which is a noteworthy development in the accounting and finance industry.
For whom is the FMAA accreditation a good idea?
For anyone starting out in accounting or finance, the FMAA certification is a great place to start. It offers a simple and efficient means for people who want to show off their business acumen and leave a lasting impression on prospective or existing employers. Those in management roles unrelated to accounting or finance may discover that the FMAA's skills will enable them to acquire the necessary knowledge in these areas to advance into higher management positions. The president and CEO of IMA, Mike DePrisco, highlights the importance of having a solid understanding of accounting fundamentals in company and the FMAA's role in lowering barriers to admission by embracing people from many industries and backgrounds.
The FMAA certification is unique in that it doesn't require applicants to have any prior qualifications. Regardless of their educational background or job experience, a wide range of business professionals can take advantage of this welcoming policy to either start their careers in accounting and finance by pursuing the certification or to acquire the fundamentals of the field in order to progress in their careers.
Candidates will be evaluated on five key areas in the FMAA exam, ensuring a comprehensive understanding of crucial accounting and finance concepts:
- 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%
- Computer Based Examination managed by www.prometric.com
- 80 MCQs
- Total Time Allowed – 2 Hours
- First Exam Window – March 2024
- $ 299 (No membership fee, For March window Exam fee $249)