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Financial and Managerial Accounting Associate Preparation (FMAA)

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managerial accounting

A high-impact training experience designed to equip participants with the practical tools and strategic insights needed to excel in financial and managerial accounting and pass the FMAA exam.  

TVTC Accreditation Number. (3216549874) - Finance & Banking
Duration

20 days / 60 hours

Language

English / Arabic

Enrolled Students

1,200+

Learning Method

Online

Course Overview

  • Interpreting financial statements and analyzing cash flows.
  • Applying cost analysis techniques to support decision-making.
  • Preparing accurate financial reports in accordance with international standards.
  • Using financial analysis tools to assess performance.
  • Familiarizing with the exam and answering strategies.

The program combines expert instruction, the 2023 SHRM Learning System, and peer interaction to deliver a comprehensive and effective learning experience.

Why Take This Course?

Value Delivered

  • This course provides actionable strategies, tools, and knowledge that can be applied immediately in the workplace.

Who Should Attend?

  • Ideal for new accountants, university graduates in accounting disciplines, and individuals preparing for the CMA certification.

Certification & Badge

View Certification & Badge
Certification Degree

Course Outline

Module 1: General Accounting and Financial Management
  • Accounting Terms and Definitions:
  • The role of accounting in business; comparison between managerial and financial accounting; types of business entities; the accounting equation; common accounting terminology; fundamental accounting principles.
  • Recording Business Transactions:
  • Double-entry bookkeeping; analyzing business transactions; the accounting cycle; recording journal entries; the general ledger; trial balance.
  • Types and Elements of Financial Statements:
  • Definitions of assets, liabilities, revenues, expenses, and equity; the balance sheet; income statement; statement of changes in equity; cash flow statement.
  • Internal Controls:
  • Internal control risks; organizational structure and management philosophy; safeguarding and assurance-related policies.
  • Managing the Company’s Daily Financial Operations:
  • Working capital; cash management; accounts receivable management; inventory management; accounts payable management.
Module 2: Preparation and Analysis of Financial Statements
  • Recognition and Valuation in Financial Reporting:
  • Asset valuation; liability valuation; revenue recognition; equity transactions; income measurement.
  • Analysis of Basic Financial Statements:
  • Common-size financial statements; single-period core financial statements.
  • Ratio Analysis in Financial Reporting:
  • Liquidity ratios; leverage ratios; activity ratios; profitability ratios.
Module 3: Planning and Budgeting
  • Budgeting Concepts:
  • Performance objectives; characteristics of effective budgeting processes.
  • Budgeting Methodologies:
  • Master budget; flexible budgeting; rolling budgets; zero-based budgeting.
  • Annual Operating Plan and Supporting Schedules:
  • Operational budgets; financial budgets; capital expenditure budgets.
Module 4: Cost Management and Performance Metrics
  • Cost Measurement Concepts:
  • Cost behavior and cost objectives; fixed vs. variable costs; actual and normal costing; standard costing; product/service costing systems.
  • Fixed and Variable Expenses:
  • Classification of fixed, variable, and mixed expenses; company-wide vs. departmental expenses; allocation of overhead costs to products.
  • Cost Metrics and Variance Analysis:
  • Comparing actual results with planned outcomes; using flexible budgets to analyze performance; price and efficiency variances for direct materials and labor; overhead variances.
  • Performance Measurement:
  • Product profitability analysis; business unit profitability analysis; customer profitability analysis; return on investment (ROI).
Module 5: Professional Ethics
  • Ethics in Business:
  • Ethical decision-making; types of business fraud.
  • Ethical Considerations for Accountants in Business:
  • IMA Statement of Ethical Professional Practice; the fraud triangle; evaluating and resolving ethical dilemmas.
Module 6: Exam Preparation
  • Exam Readiness:
  • Review of key concepts; answering strategies; sample practice questions.
  • Full Mock Exam with Performance Analysis and Feedback

At the National eLearning Center, we worked with Tharwah on an essential project which was the Organizational Transformation Strategy. During our engagement with Tharwah, we had an excellent experience as the project team and leadership from Tharwah pushed beyond the limits to meet our requirements and needs. 
Tharwah uses best-fit global practices and methodologies in carrying out their consultancy work. What we liked the most is their flexibility, attention to details, and passion to deliver high quality which exceeded the expectations. We won’t hesitate to work with Tharwah again in future projects.

Dr. Rami I. Alsakran

Deputy Director General for Planning & Development | National eLearning Center

At the National Events Center, we worked with Tharwah on an Organizational development project, and during our engagement, we had an amazing experience. Tharwah uses best-fit global practices and methodologies in carrying out the consultancy work. What we liked the most is their flexibility, accessibility and diversity of tools, attention to details and passion to deliver high quality. We hope to continue working with them on other projects in the future.

Eng. Feras Al-Babtain

Head of Organization Development & Employee Engagement | National Events Center

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Frequently Asked Questions

What is the Financial and Managerial Accounting Associate (FMAA) certification, and why is it a strategic step for aspiring accounting professionals?

The Financial and Managerial Accounting Associate (FMAA) certification is a foundational professional credential designed to equip participants with essential knowledge in financial and managerial accounting. It is particularly suited for recent graduates and entry-level professionals aiming to build solid expertise in financial reporting, budgeting, cost analysis, and decision-making processes rooted in accounting principles.

FMAA serves as a strategic launchpad for those planning to pursue advanced certifications such as the CMA. It offers a structured and practice-oriented approach to accounting concepts, enabling participants to apply financial techniques in real business contexts. The course’s recognition by the Institute of Certified Management Accountants (ICMA) ensures its global credibility and alignment with international standards, enhancing the career prospects of its holders in competitive financial environments.

Who is the Financial and Managerial Accounting Associate (FMAA) course suitable for, and does it require prior accounting knowledge or professional experience?

The Financial and Managerial Accounting Associate (FMAA) course is ideally suited for a wide range of learners, particularly university students majoring in finance or business, recent graduates, and junior professionals in administrative or finance-support roles who want to establish a strong foundation in accounting before pursuing advanced certifications like the CMA or CPA.
This course does not require prior experience in accounting or advanced technical knowledge. Instead, it starts with the basics and builds up gradually toward more advanced concepts such as financial statement preparation, cost accounting, budgeting, and managerial decision-making. This makes the course accessible even for those who are transitioning into accounting from non-financial backgrounds.
Thanks to its practical approach and focus on real-world application, the FMAA course also appeals to professionals who need to understand financial data and contribute to strategic decisions in their organizations — even if they’re not traditional accountants.

What topics are covered in the FMAA course? Does it include both financial and managerial accounting?

The Financial and Managerial Accounting Associate (FMAA) course provides a well-rounded and integrated curriculum that combines both financial accounting and managerial accounting, offering a comprehensive foundation for learners entering the field.
On the financial accounting side, the course covers essential topics such as the preparation of financial statements, application of core accounting principles, and analysis of business performance through financial data. On the managerial side, it explores cost concepts, budgeting and variance analysis, break-even analysis, and using accounting information for decision-making and performance evaluation.
This dual focus ensures participants gain not only technical knowledge but also the ability to interpret and apply accounting insights in real-world business scenarios. The course follows an internationally recognized framework from the Institute of Certified Management Accountants (ICMA), ensuring alignment with global standards and employer expectations.
With this blend of theory and application, learners graduate with a solid understanding of how to manage financial information and contribute to strategic and operational decision-making in organizations.

What distinguishes the FMAA course from other entry-level accounting programs, such as short courses or general university classes?

The Financial and Managerial Accounting Associate (FMAA) course stands out by offering a professionally certified and practically oriented program that directly prepares learners for real-world accounting roles — unlike many short courses or theoretical university classes.
Whereas short-term trainings often focus on isolated skills or tools and academic programs lean heavily on conceptual theory, FMAA provides a structured curriculum that blends financial and managerial accounting in one cohesive path. It emphasizes application, using real-life business scenarios, case studies, and simulations that mirror the challenges professionals face in the field.
What further elevates the course is its alignment with the Institute of Certified Management Accountants (ICMA) — a globally respected body — offering learners international recognition and a stepping stone toward more advanced certifications like the CMA.
Moreover, FMAA is designed with accessibility in mind: its delivery language, examples, and pacing are tailored for beginners, ensuring comprehension and engagement. Participants emerge from the program not only with theoretical understanding, but with job-ready skills in financial reporting, budgeting, and data-driven decision-making.

Does the FMAA course prepare me for higher-level certifications like the CMA or CPA?

Absolutely. The Financial and Managerial Accounting Associate (FMAA) course provides a strong foundational platform for advancing toward globally recognized accounting certifications such as the Certified Management Accountant (CMA) or the Certified Public Accountant (CPA).

FMAA equips learners with essential knowledge areas and practical competencies that align with the core content of advanced programs — including financial reporting, cost analysis, budgeting, and performance evaluation. It helps participants develop a solid grasp of accounting concepts and business applications, which is crucial for success in rigorous professional exams.

While the FMAA course does not replace the formal prerequisites (such as a bachelor’s degree or work experience) required for certifications like CMA or CPA, it significantly enhances readiness. Learners who complete FMAA are better positioned to understand the advanced materials, pass the exams, and transition smoothly into more specialized roles in financial management or public accounting.

In short, FMAA is not just a standalone certification — it’s a strategic first step on the path to global accounting excellence.

How valuable is the FMAA certification in today’s job market? Does it truly enhance my employment prospects as an entry-level candidate?

The Financial and Managerial Accounting Associate (FMAA) certification holds strong value in the job market — especially for those entering the accounting field or transitioning into finance-related roles. It serves as a clear signal to employers that the candidate possesses practical, job-ready skills, rather than just academic theory.

Employers view FMAA as a mark of dedication and competence, particularly because the course focuses on real-world applications such as financial reporting, budgeting, and internal communication of financial data. The certification provides immediate weight to a resume and reflects a candidate’s initiative to pursue recognized, standards-based training.
In a competitive hiring environment, having a globally aligned credential like FMAA sets candidates apart. It opens opportunities in small businesses, corporate finance departments, and even governmental or nonprofit accounting functions. Furthermore, it positions learners for long-term success by establishing a strong baseline for future professional certifications and career advancement.
In short, FMAA is more than a learning experience — it’s a career investment that demonstrates capability and potential.

What makes the FMAA course at Tharwah Higher Institute for Training stand out from other financial and managerial accounting programs?

The Financial and Managerial Accounting Associate Preparation (FMAA) course offered by Tharwah Higher Institute for Training stands out for its immersive, job-oriented design that combines global certification quality with localized relevance to the GCC and MENA markets. It’s not just another accounting course — it’s a practical pathway into the real demands of today’s financial job roles.

What sets this course apart is its global alignment through CertiProf, a respected international certification body known for developing industry-relevant credentials. This ensures that FMAA graduates receive a certificate that holds recognized weight across sectors, and reflects true skill readiness. Moreover, the course is taught in Arabic by certified trainers with real-world industry experience, making complex accounting concepts easier to grasp for beginners.

Tharwah’s FMAA course also provides a fully supportive learning environment, offering not only theory but also simulations, business case examples, and ongoing mentorship. Participants experience what it’s like to work in finance — from understanding reports to making budget decisions — within a safe, guided training context.

This distinctive structure makes Tharwah’s FMAA program the ideal choice for aspiring finance professionals, whether they’re fresh graduates or career changers aiming to enter the world of accounting with clarity and competence.

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    Course Fee: 4,600

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