FMAA – The New ‘Paradigm Shifter’ in Accounting and Finance
FMAA (Financial and Managerial Accounting Associate) is the new entrant from the portfolio of Institute of Management Accountants (IMA) that was introduced recently and is being considered as a path breaking foundational certification course for accounting and finance professionals. Acquiring the FMAA certification will help the professional, particularly at the entry level to make them more presentable to the present-day employers with solid foundational knowledge and upskilling in present and future accounting arena. With the current challenges faced by the accountants with the intrusion of technologies and shortage of well-equipped accountants, the FMAA certification is meant to break the traditional barriers to make the field wide open for not only the accounting field but also from other domains to make it accessible for any business professionals.
FMAA Eligibility
The beauty of this innovative curriculum is regardless of educational background, there are no prerequisites to pursue the FMAA certification course allowing business professionals as well as entry level personnels from every corner to attain this certification.
FMAA Course
To get the FMAA certification, one must acquire knowledge in 5 below mentioned content domains with respective weightage of each section.:
- 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%).
FMAA Exam
With a recommended 50 hours of study, the FMAA is a single part exam of 2 hours duration having 80 MCQs to answer.
FMAA Registration
As per IMA, it will start from January 2024 for the initial testing windows of March 2024 in English and exams will be conducted by Prometric centers across the globe.
Summary
The FMAA certification program provides a unique innovative opportunity for accounting students and professionals to acquire essential fundamental accounting and finance skills for everyday use in the workplace, including the tech sector financial services. Apart from the budding accountants, FMAA is aimed to target talent acquisition in professionals from non-accounting sectors too and those are not able to pursue the CMA US program to make them hirable by the employers.
For further information/assistance, contact: