Certification Overview

This is a new certification granted by the Institute of Management Accountants (IMA), issued in both Arabic and English. It targets individuals seeking to begin a strong professional career in accounting and finance, equipping early-career professionals with essential knowledge and skills, making it a valuable addition to the financial and accounting sector.

Awarding Body

The certification is awarded by the Institute of Management Accountants (IMA), an international organization established in 1919 with the objective of advancing the accounting and finance profession. IMA offers professional certifications such as CMA and FMAA, provides educational resources, research, and global networking opportunities for its members, and is recognized as a reference for the development of accounting standards and ethical practices.

Managerial & Financial Training Center is an approved center by the Institute of Management Accountants (IMA), USA, and has been one of the leading providers of professional training programs and certifications in accounting, finance, banking, risk, and other specialties since 2004.

Certification Objectives

• Enable participants to understand the principles of general accounting and financial management.

• Equip participants with the ability to prepare and analyze financial statements effectively.

• Teach the fundamentals of planning and budgeting and their importance in business.

• Develop understanding of cost management and performance measurement.

• Apply ethical principles in professional practice.

• Prepare participants to successfully pass the Financial and Managerial Accounting Associate (FMAA) exam.

Why Pursue This Certification?

• Focuses on core knowledge and skills, making it an ideal starting point for early-career professionals.

• Does not require IMA membership to sit for the exam or obtain the certification.

• No academic qualifications or prior work experience required.

• Affordable compared to other certifications.

• Exam available in Arabic or English.

• Very short preparation period.

• Questions cover only foundational and intermediate levels.

• Single exam consisting entirely of multiple-choice questions.

• Demonstrates your professional skills globally in financial and managerial accounting.

Exam Content Areas

• General Accounting and Financial Management (25%)

• Financial Statement Preparation and Analysis (25%)

• Planning and Budgeting (20%)

• Cost Management and Performance Measures (20%)

• Professional Ethics (10%)

Detailed Exam Outline

Topic One

1. Accounting Terms and Definitions

• The role of accounting in business

• Comparison between managerial and financial accounting

• Types of business entities

• Accounting equation

• Common accounting terminology

• Accounting principles

2. Recording Business Transactions

• Double-entry bookkeeping

• Analyzing business transactions

• The accounting cycle

• Journal entries

• General ledger

• Trial balance

3. Types of Financial Statements and Their Components

• Definitions of assets, liabilities, revenues, expenses, and equity

• Balance sheet

• Income statement

• Statement of changes in equity

• Statement of cash flows

4. Internal Control

• Internal control risks

• Organizational structure and management philosophy

• Policies related to safeguarding and assurance

5. Managing Daily Financial Operations

• Working capital

• Cash management

• Accounts receivable management

• Inventory management

• Accounts payable management

Topic Two

1. Recognition and Measurement in Financial Statements

• Asset valuation

• Liability valuation

• Revenue recognition

• Equity-related transactions

• Income measurement

2. Analysis of Basic Financial Statements

• Common-size financial statements

• Base-year comparative financial statements

3. Ratio Analysis

• Liquidity

• Leverage

• Activity

• Profitability

Topic Three

1. Budgeting Concepts

• Performance objectives

• Characteristics of a successful budgeting process

2. Budgeting Methodologies

• Master budget

• Flexible budget

• Continuous (rolling) budget

• Zero-based budget

3. Annual Operating Plan and Supporting Schedules

• Operating budgets

• Financial budgets

• Capital expenditure budgets

Topic Four

1. Cost Measurement Concepts

• Cost behavior and cost objects

• Fixed vs. variable costs

• Actual vs. normal costs

• Standard costs

• Product and service costing methods

2. Variable and Fixed Overhead

• Classification of fixed, variable, and mixed overhead

• Organization-level and departmental-level overhead

• Allocation of overhead to products

3. Cost Measures and Variances

• Comparing actual results with planned results

• Using flexible budgets for performance analysis

• Price and efficiency variances for direct materials and direct labor

• Overhead variances

4. Performance Measurement

• Product profitability analysis

• Business unit profitability analysis

• Customer profitability analysis

• Return on investment (ROI)

Topic Five

1. Business Ethics

• Ethical decision-making

• Types of business fraud

2. Ethical Considerations for Accountants

• IMA Statement of Ethical Professional Practice

• Fraud triangle

• Evaluating and resolving ethical issues

Exam Requirements

There are no prerequisites to sit for the FMAA exam. The certification is open to all business professionals regardless of educational background or work experience.

Study Materials

Managerial & Financial Training Center provides the official electronic textbook from PRC, including a question bank and mock exams that simulate the final exam.

Exam Details

• Number of Questions: 80

• Exam Duration: 2 hours

• Question Type: Multiple-choice only (no essay questions)

• Exam Fee: $299

• Exam Location: Computer-based exam at Prometric testing centers worldwide (available in Saudi Arabia)

• Exam Windows: Available during specific testing windows set by IMA

Upcoming Arabic Exam Windows – 2026

• January 26, 2026 – February 4, 2026

• May 11, 2026 – May 20, 2026

• September 14, 2026 – September 23, 2026

Exam Preparation Course

• Delivered by specialized professional instructors with extensive experience in training for professional certifications.

• Provision of summaries, references, practice questions, and exam preparation guidance.

• Theoretical and practical preparation for effective content mastery.

• Development of a structured study plan and training on question-solving methodology.

• Direct interaction between instructor and participants during the course.

• Certificate of attendance provided.

• Dedicated WhatsApp group for ongoing engagement and support.

Target Audience

• Entry-level accountants and recent graduates in accounting and finance majors.
• Students and graduates of accounting, finance, business administration, and economics.
• Professionals seeking to begin a career path in accounting and finance.
• Employees in banks and the financial sector who wish to enhance their financial understanding and develop their skills.
• Individuals planning to prepare for the CMA certification and pursue a professional career path.
• Administrators and business owners seeking a better understanding of financial aspects to support their managerial decisions.
• Individuals looking to transition their career path into accounting and finance without prior experience requirements.