IMA® (Institute of Management Accountants), the worldwide association of accountants and financial professionals in business, announced the launch of a new foundational certification in the accounting and finance profession. The FMAA™ (Financial and Managerial Accounting Associate) instills the fundamental knowledge and competencies in accounting and finance, allowing professionals early in their careers to showcase their expertise to employers and build a foundation to expand their skills.
“The FMAA provides a flexible and practical path for individuals who want to prove their ability to speak the language of business with current and future employers,” said Mike DePrisco, president and CEO of IMA. “As knowledge of accounting fundamentals becomes more critical for businesses and coupled with the shortage of professionals pursuing accounting and finance careers, the FMAA minimizes traditional barriers to entry and opens opportunities to others from across other professions and industries.”
Emphasizing the FMAA’s foundational role in the region, Josh Heniro, Ph.D., Managing Director at IMA Asia Pacific, said, “The FMAA represents a pivotal starting point in the accounting and finance profession in Asia Pacific, catering not only to those embarking on their careers but also to those in mid-career transitions seeking a foundational understanding. This certification imparts essential skills and concepts, making it a valuable tool for professionals at different points in their careers. Beyond these foundational aspects, the FMAA also establishes a framework for ongoing growth and professional development through continuous education.”
Those who acquire the FMAA will build knowledge in five content domains: general accounting and financial management, financial statement preparation and analysis, planning and budgeting, cost management and performance metrics, and professional ethics. The two-hour exam includes 80 multiple-choice questions. The FMAA has no prerequisites to pursue the certification.
“The FMAA is an innovative opportunity for professionals to acquire essential accounting and finance skills for everyday use in the workplace,” said Ella Suponitskiy, CMA (U.S.), CPA, CAE, vice president, certification, at IMA. “With its accessibility to all business professionals, regardless of educational background, the FMAA is the perfect entry point into the accounting and finance profession. The FMAA allows individuals to start their careers with impact as certified professionals.”
Registration for the FMAA will open in January 2024 for the initial testing windows of March 2024 in English and May 2024 in Chinese. Exams will take place globally at Prometric testing centers.
