Financial and Managerial Accounting Associate (FMAA)
ﺷﻬﺎدة اﻟﻤﺤﺎﺳﺐ اﻟﻤﺎﻟﻲ واﻹداري اﻟﻤﺴﺎﻋﺪ
This course represents the body of knowledge that will be covered on the Financial & Managerial Accounting Associate (FMAA) examination. The outlines may be changed in the future when new subject matter becomes part of the common body of knowledge.
This certification, accredited by the Institute of Management Accountants (IMA), is designed to help professionals gain the necessary knowledge and practical skills to work in accounting and financial management. Participants will build a solid foundation in financial and management accounting.
This training program is offered at Ritaj, IMA’s local partner. The training is delivered in Arabic and incorporates practical examples and case studies drawn from local financial sector.
- Stand out as a certified professional in the field of accounting
- Gain trust and leverage your knowledge value Showcase your
- Become accredited based on global accreditation in the field of financial and management accounting.
- Job seekers (accounting, coordinators, admin assistants)
- Junior Arabic-speaking accountants
- Anyone who wants to understand the fundamentals of financial statements and budgets without an in-depth accounting background.
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- Type: Hybrid
- Duration: 20 Hours
- Language: Arabic
Objectives:
Upon completion, the trainee will be better able to:
- Identify the accounting cycle and prepare journal entries and trial balances.
- Analyze the four basic financial statements and interpret their indicators.
- Calculate and interpret key financial ratios (liquidity, leverage, activity, and profitability).
- Prepare operating and financial budgets and understand their various methodologies.
- Apply cost management concepts, analyze variances, and support managerial decisions.
- Become familiar with professional ethics as outlined in the Institute of Management Accountants and the Fraud Triangle.
Topics:
- Role of accounting in business
- Comparison of management accounting to financial accounting
- Types of businesses
- The accounting equation
- Common accounting terminology
- Accounting principles
- Double-entry bookkeeping
- Analyzing a business transaction
- The accounting cycle
- Recording journal entries
- General ledger
- Trial balance
- Definition of asset, liability, revenue, expense, and equity
- Balance sheet
- Income statement
- Statement of changes in equity
- Statement of cash flows
- Internal control risk
- Organizational structure and management philosophy
- Policies for safeguarding and assurance
- Working capital
- Cash management
- Accounts receivable management
- Inventory management
- Accounts payable management
- Recognition and valuation in financial statements
- Asset valuation
- Valuation of liabilities
- Revenue recognition
- Equity transactions
- Income measurement
- Common-size financial statements
- Common base year financial statements
- Liquidity
- Leverage
- Activity
- Profitability
- Performance goals
- Characteristics of a successful budgeting process
- Master budget
- Flexible budgeting
- Rolling budget
- Zero-based budget
- Operational budgets
- Financial budgets
- Capital expenditures budgets
- Cost behavior and cost objects
- Fixed costs vs. variable costs
- Actual and normal costs
- Standard costs
- Product/service costing systems
- Classifying fixed, variable, and mixed overhead expenses
- Corporate-wide vs. departmental overhead expenses
- Allocation of overhead costs to products
- Comparison of actual results to planned results
- Use of flexible budgets to analyze performance
- Price and efficiency variances for direct material and direct labor
- Overhead variance
- Product profitability analysis
- Business unit profitability analysis
- Customer profitability analysis
- Return on investment
- Breakeven analysis
- Sunk costs and opportunity costs
- Marginal costs and marginal revenue
- Ethical decision making
- Types of business fraud
- IMA Statement of Ethical Professional Practice
- The fraud triangle
Evaluation and resolution of ethical issues
Prerequisites:
N/A
Trainer:
Firas Abu Qtaish
Firas Abu Qteish joined Ritaj’s Team in 2015. As a certified professional and a financial manager, Firas has a wealth of experience in training groups on specific financial topics ranging between analysis and certification.
Prior to stepping into the training field, Firas has chosen to build and strengthen his knowledge in particular areas such as budget policies, compliance, compliance, reviewing and interpreting accounting and financial management policies, procedures, standards and statutes.
With his current position as Head of Risk management at Palestine Investment Bank Holding and a previous position at the AB Invest-?the investment arm for Arab Bank Palestine, Firas has influenced his training approach by linking theory with practice using actual case studies from the Palestinian economy and relating it to the international standards of professional certification. He has both the CMA & CIA, CRMA credentials in addition to the CFA.
