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Jack Farmer

Ready to earn a professional certificate and stand out in your field?

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Ready to earn a professional certificate and stand out in your field?

If you’ve gained a clear, comprehensive understanding of the courses, your next step is to complete the Financial Accounting Professional Certificate Examination from the New York Institute of Finance.

The exam comprises 30 questions, timed at 60 Minutes. To qualify for the certificate, learners must receive a grade of at least 70% or better.

Prerequisite for this exam:

Earn a Verified Certificate in all parts of the Financial Accounting program from NYIF:

  • Accounting System Structure and Information Management
  • Reporting Firm Resources, Obligations and Performance
  • Reporting Use of Firm Resources and Taxation
  • Reporting Liabilities and Owners Capital and Cashflow
  • Reporting Investments, Pensions, and Financial Statement Analysis

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What's inside

Learning objective

Gained a clear, comprehensive understanding of financial accounting.

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Examines accounting principles and practices, which is standard in the industry
Offers a comprehensive understanding of financial accounting
Taught by Jack Farmer, who is recognized for their work in the finance industry
Requires a certificate in all parts of the Financial Accounting program from NYIF
Exam preparation requires learners to take the Financial Accounting Professional Certificate Examination from the New York Institute of Finance

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Financial Accounting Professional Certificate Examination with these activities:
Review Basic Accounting Concepts
Review basic accounting concepts to strengthen your foundation for this course. This will help you better understand the more complex concepts covered in the course.
Browse courses on Accounting Concepts
Show steps
  • Review notes or textbooks from previous accounting courses.
  • Take practice quizzes or complete practice problems.
  • Attend a refresher workshop or online course.
Maintain a Collection of Financial Resources
Create a collection of financial resources to support your learning. This will provide you with a valuable reference tool and improve your access to relevant information.
Show steps
  • Gather a list of useful websites, articles, and other resources on financial accounting.
  • Create a digital or physical notebook or folder to store these resources.
  • Regularly add new resources to your collection as you discover them.
Create a Personal Budget and Track Expenses
Create a personal budget and track your expenses to gain practical experience in financial management. This will help you understand the principles and techniques covered in class.
Show steps
  • Determine your income and expenses.
  • Create a budget using a spreadsheet or budgeting app.
  • Track your expenses regularly.
  • Make adjustments to your budget as needed.
Five other activities
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Read 'Financial Reporting & Analysis' by Charles Horngren
Read a comprehensive book on financial reporting and analysis to gain a deeper understanding of the concepts and best practices.
Show steps
  • Purchase or borrow the book.
  • Set aside dedicated time to read the book.
  • Take notes and highlight important passages.
  • Complete the practice questions at the end of each chapter.
  • Discuss the book with classmates or peers.
Join a Study Group or Participate in Class Discussions
Join a study group or participate in class discussions to engage with peers. This will provide opportunities to collaborate, exchange knowledge, and clarify concepts.
Show steps
  • Find a study group or join class discussions.
  • Prepare for the study session or discussion by reviewing materials.
  • Actively participate in the discussion or group work.
  • Take notes and ask questions for clarification.
Watch Tutorials on Complex Financial Accounting Topics
Watch tutorials to supplement your understanding of complex financial accounting topics. This can help you clarify concepts and gain a deeper understanding.
Show steps
  • Identify a topic that you need clarification on.
  • Search for and watch a tutorial on that topic.
  • Take notes and/or summarize the key points.
Practice Financial Accounting Problems
Practice solving a variety of Financial Accounting problems. This will help you gain a strong grasp of the underlying concepts and improve your problem-solving skills.
Show steps
  • Find a set of practice problems online or in a textbook.
  • Solve the problems using the concepts you have learned in the course.
  • Check your answers against the provided solutions.
  • Identify any areas where you need to improve your understanding.
Create a Financial Model for a Business
Create a financial model for a business to apply the concepts you have learned. This will help you develop hands-on experience and a deeper understanding of financial modeling.
Show steps
  • Gather financial data for the business.
  • Choose a financial modeling software.
  • Build the financial model.
  • Analyze the results of the model.
  • Present the model to a group of peers or mentors.

Career center

Learners who complete Financial Accounting Professional Certificate Examination will develop knowledge and skills that may be useful to these careers:
Financial Analyst
Financial Analysts are responsible for evaluating the financial health and performance of companies, industries, and economies. They use their knowledge of accounting principles and financial markets to make recommendations on investments, mergers and acquisitions, and other financial decisions. This course can help prepare you for a career as a Financial Analyst by providing you with a strong foundation in accounting principles, financial statement analysis, and financial modeling techniques.
Auditor
Auditors are responsible for examining and evaluating financial records to ensure that they are accurate and comply with accounting standards. They may also provide consulting services to help companies improve their financial reporting systems and internal controls. This course can help prepare you for a career as an Auditor by providing you with a strong foundation in accounting principles, auditing standards, and risk assessment techniques.
Tax Accountant
Tax Accountants are responsible for preparing tax returns, advising clients on tax laws and regulations, and representing clients before tax authorities. They may also specialize in international taxation, estate planning, or other areas of tax law. This course can help prepare you for a career as a Tax Accountant by providing you with a strong foundation in accounting principles, tax laws and regulations, and tax planning techniques.
Controller
Controllers are responsible for overseeing the financial operations of a company. They are responsible for preparing financial statements, managing cash flow, and developing and implementing accounting policies and procedures. This course can help prepare you for a career as a Controller by providing you with a strong foundation in accounting principles, financial statement analysis, and managerial accounting techniques.
Chief Financial Officer
Chief Financial Officers (CFOs) are responsible for overseeing all financial aspects of a company. They are responsible for developing and implementing financial strategies, managing relationships with investors and creditors, and ensuring that the company is in compliance with all financial regulations. This course can help prepare you for a career as a CFO by providing you with a strong foundation in accounting principles, finance, and strategic planning.
Investment Banker
Investment Bankers help companies raise capital through the issuance of stocks and bonds. They also advise companies on mergers and acquisitions, and other financial transactions. This course can help prepare you for a career as an Investment Banker by providing you with a strong foundation in accounting principles, financial statement analysis, and financial modeling techniques.
Portfolio Manager
Portfolio Managers are responsible for managing investment portfolios for individuals and institutions. They make investment decisions based on their analysis of financial markets and economic conditions. This course can help prepare you for a career as a Portfolio Manager by providing you with a strong foundation in accounting principles, financial statement analysis, and investment management techniques.
Risk Manager
Risk Managers are responsible for identifying, assessing, and mitigating financial risks. They may also develop and implement risk management policies and procedures. This course can help prepare you for a career as a Risk Manager by providing you with a strong foundation in accounting principles, financial statement analysis, and risk management techniques.
Financial Planner
Financial Planners help individuals and families plan for their financial future. They may provide advice on investments, retirement planning, and estate planning. This course can help prepare you for a career as a Financial Planner by providing you with a strong foundation in accounting principles, financial statement analysis, and financial planning techniques.
Financial Analyst, Equity Research
Financial Analysts, Equity Research are responsible for analyzing and evaluating companies in order to make investment recommendations. They may also write research reports and make presentations to clients. This course can help prepare you for a career as a Financial Analyst, Equity Research by providing you with a strong foundation in accounting principles, financial statement analysis, and financial modeling techniques.
Business Analyst
Business Analysts help companies improve their business processes and systems. They may use their knowledge of accounting principles and financial analysis to identify and solve business problems. This course can help prepare you for a career as a Business Analyst by providing you with a strong foundation in accounting principles, financial statement analysis, and business process improvement techniques.
Consultant
Consultants provide advice and guidance to businesses on a variety of topics, including finance, accounting, and operations. They may use their knowledge of accounting principles and financial analysis to help businesses improve their performance. This course can help prepare you for a career as a Consultant by providing you with a strong foundation in accounting principles, financial statement analysis, and consulting skills.
Data Analyst
Data Analysts collect, analyze, and interpret data to help businesses make better decisions. They may use their knowledge of accounting principles and financial analysis to help businesses identify trends and opportunities. This course can help prepare you for a career as a Data Analyst by providing you with a strong foundation in accounting principles, financial statement analysis, and data analysis techniques.
Investment Manager
Investment Managers are responsible for managing investment portfolios for individuals and institutions. They make investment decisions based on their analysis of financial markets and economic conditions. This course may help prepare you for a career as an Investment Manager by providing you with a strong foundation in accounting principles, financial statement analysis, and investment management techniques.

Reading list

We've selected seven books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Financial Accounting Professional Certificate Examination.
Provides a comprehensive overview of the theory and practice of financial accounting. It valuable resource for students and practitioners who want to gain a deeper understanding of the subject.
Provides a comprehensive overview of auditing. It valuable resource for students and practitioners who want to gain a deeper understanding of the subject.
Provides a comprehensive overview of accounting and financial reporting for managers. It valuable resource for managers who want to gain a deeper understanding of the subject.
Provides a comprehensive overview of accounting for decision making and control. It valuable resource for students and practitioners who want to gain a deeper understanding of the subject.
Provides a comprehensive overview of managerial accounting. It valuable resource for students and practitioners who want to gain a deeper understanding of the subject.

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