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FFAC : Foundational Financial Accounting Certificate

About IMA’s Foundational Financial Accounting Certificate (FFAC)

The 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.

Exclusively available at Orbit Institutes, the instructor-led workshop is a great stepping stone for anyone wishing to pursue a career in accounting, or simply wishing to strengthen their accounting skills no matter which industry they work in. Lastly, mastering this baseline knowledge will better prepare you to study for IMA’s prestigious, more advanced Certified Management Accountant (CMA) exam – a natural next step for you should you choose a career in management accounting.

FFAC Syllabus

Take a closer look at FFAC’s Instructor-Led workshop syllabus:

  • Module 1: Introduction to Financial Accounting
  • Module 2: Fundamentals of Financial Accounting
  • Module 3: Period End Accounting Activities
  • Module 4: Financial Statements: An Introduction
  • Module 5: Balance Sheet Components
  • Module 6: Income statement components
  • Module 7: Statement of Cash Flows Components
  • Module 8: Special topics in accounting
  • Module 9: Other financial statement information
  • Module 10: Annual report
  • Module 11: Internal controls over financial reporting

 

FFAC Exam

After attending the FFAC instructor-led workshop at Orbit Institutes, candidates will be required to take the Foundational Financial Accounting Certificate Assessment Exam. The exam is a multiple-choice test consisting of 75 multiple-choice questions that cover the various financial accounting topics included within the syllabus. The candidate will have 2.5 hours to complete the assessment exam.

FFAC Learning System

To assist you with your learning and prepare you to pass the exam, candidates will be provided with:

Instructor Led Class: The 4-day workshop summarizes crucial points of syllabus and provides the opportunity to answer questions and guide you through the comprehensive examples.

Course Syllabus: Breaks down the workshop, and gives an estimated time of completion for each chapter.

Textbook: Covers a range of topics on the fundamentals of financial accounting that encompass the review of critical concepts and calculations, knowledge-check questions with answers located in the Appendices, a comprehensive problem in the final chapter, and a bibliography.

Practice Test CD: Contains over 350 questions to help prepare you for the final Assessment Exam. The CD provides multiple choice practice test questions, by chapter, which you must go through to test your knowledge and prepare for the final course Assessment Exam.

Upon passing the Assessment Exam, candidates will receive a certificate of completion marking the individual’s understanding of basic financial accounting knowledge.

 

About the Institute of Management Accountants

IMA® is the association dedicated to empowering accountants and financial professionals in business to become “trusted business advisors” by playing an active role in their organizations’ business success. With a network of about 60,000 professionals worldwide, IMA provides a dynamic forum for professionals to advance their careers through Certified Management Accountant (CMA®) certification, professional education, networking, and advocacy of the highest ethical and professional standards.

For more information about IMA, please visit   www.imanet.org

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