FFAC™ Foundational Financial Accounting Certificate
IMA’s Foundational Financial Accounting Certificate is designed to provide a quality and valuable learning experience to those interested in strengthening their baseline financial accounting skills and knowledge and in utilizing such skills and knowledge on the job.
Receipt of a certificate of completion marking the individual’s understanding of basic financial accounting knowledge.
The Foundational Financial Accounting Certificate Assessment Exam consists of 75 multiple-choice questions that cover the various financial accounting topics included within the course. The candidate will have three hours to complete the assessment exam.
With this baseline knowledge, individuals will then be better prepared to study for IMA’s prestigious, more advanced CMA® (Certified Management Accountant) exam – a natural next step in their management accounting career path – provided they also have strong baseline knowledge of management accounting. The CMA credential is the advanced professional certification focused on management accounting skills and knowledge that delivers tangible value. It demonstrates command of the critical accounting and financial management skills demanded by today’s dynamic businesses, translating into significant career opportunities for accounting professionals.
5 KEY TAKE AWAYS
- The ability to understand and work across depth of the entire range of accounting statements and related processes within organizations.
- Encourage sharing of best practices and tools, which leads to optimal bottom-line results and proficiency in decision-making, planning and control functions.
- Fully utilize the content of the workshop related topics in order for you to manage, drive and stay on top your company’s professional environment.
- FFAC™ serves as a foundation course for CMA candidates. The areas covered in FFAC will help you understand very well over 15% of the CMA syllabus.
- More recognized all over the world as compared with other similar qualifications.
WHO SHOULD ATTEND?
- Fresh graduates
- Junior accountants and auditors
- CMA candidates who are in a need for preparatory course in financial accounting before starting their CMA studies.
- Non-accounting professionals who are willing to get accounting knowledge.
Founded in Buffalo, N.Y. in 1919, the Institute of Management Accountants (IMA) is the worldwide association of accountants and financial professional working in business. Whilst representing more than 70,000 professional members, IMA is committed to promote knowledge and professionalism among cost accountants and foster a wider understanding of the role of cost accounting in management. In this regard, IMA’s mission is to provide a forum for research, practice development, education, knowledge sharing and the advocacy of the highest ethical and best business practices in management accounting and finance.
IMA achieves its main goal through:
- Offering a rigorous, highly respected credential – the CMA – that recognized and rewards expertise
- Building a peer network of professional relationships to share industry experience, access career opportunities, and make business contacts to last a lifetime
- Providing extensive education programs to advance professional knowledge, increase leadership potential and satisfy CPE requirements
- Giving a voice to the profession with insightful and timely journals and newsletters
- Promoting leading-edge research and industry best practices
- Advocating for the profession in a challenging regulatory environment.
CHAPTER 1: Introduction to Financial Accounting
CHAPTER 2: Fundamentals of Financial Accounting
CHAPTER 3: Period-End Accounting Activities
CHAPTER 4: Financial Statements: An Introduction
CHAPTER 5: Balance Sheet Components
CHAPTER 6: Income Statement Components
CHAPTER 7: Statement of Cash Flows Components
CHAPTER 8: Other Financial Statement Information
CHAPTER 9: Annual Report
CHAPTER 10: Internal Controls Over Financial Reporting