Professional Master’s in Applied Finance and Accounting (PMAFA) Self Paced

The Professional Master’s in Applied Finance and Accounting (PMAFA) is a comprehensive program designed to develop finance professionals' expertise in core areas like accounting, financial planning, cost management, compliance, and risk assessment. Based on eight key functional domains, it combines practical skills with strategic thinking to prepare learners for effective financial management, reporting, auditing, and leadership in a dynamic business environment.

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Course Overview
Length 1 Years
Regular Fee NGN 2475000.00
Scholarship Available
Payment Plan Available
Course Type Self Paced
Review
(4.79)

Course Brochure

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International Recognition

NQUAL

World Academy for Research and Development is an approved center by NQual, a UK-based awarding organization regulated by Ofqual, the Office of Qualifications and Examinations Regulation in the UK.

The Professional Master’s in Applied Finance and Accounting (PMAFA) is a comprehensive, industry-aligned program designed to equip finance professionals with the functional expertise, strategic thinking, and applied skills needed to drive financial performance and governance in modern organizations.

Built around eight core Functional Domains, the program integrates foundational accounting practices, advanced financial planning, cost management, regulatory compliance, and enterprise-level financial risk assessment. Each competency area is designed to reflect real-world finance roles and responsibilities, enabling learners to build mastery in both day-to-day financial operations and high-impact strategic decision-making.

Whether preparing financial statements, managing corporate budgets, performing internal audits, or assessing financial risk, this program empowers professionals to lead with confidence, insight, and integrity in a rapidly evolving financial landscape.

Build Core Accounting Proficiency

Develop a solid understanding of corporate accounting principles, transaction management, and financial statement preparation to ensure accuracy and transparency in financial reporting.

Enhance Budgeting and Financial Planning Capabilities

Equip professionals with the tools and frameworks needed to prepare, manage, and evaluate budgets, forecasts, and strategic financial plans aligned with business objectives.

Strengthen Cost and Performance Management Skills

Apply cost accounting techniques, activity-based costing, and cost-volume-profit analysis to support decision-making, improve profitability, and control expenditures.

Master Financial Reporting and Compliance Standards

Gain advanced knowledge of IFRS, fair value accounting, and reporting ethics to prepare compliant and high-integrity financial disclosures for internal and external stakeholders.

Develop Strategic Accounting and Financial Insight

Apply leverage analysis, investment appraisal techniques, and dividend policy decisions to drive business value and support long-term financial strategies.

Implement Effective Internal Control and Audit Practices

Understand and apply internal audit frameworks, fraud detection methods, and compliance protocols to strengthen governance and protect organizational assets.

Assess and Mitigate Financial and Operational Risks

Identify, evaluate, and manage credit, operational, and regulatory risks using best-practice tools and enterprise risk management principles.

Integrate Functional Finance Expertise with Business Strategy

Connect technical accounting skills with strategic business outcomes, enabling professionals to act as financial advisors and partners in performance management and growth.

Develop Leadership Readiness in Finance Functions

Prepare learners for mid-to-senior level finance roles by building decision-making, analytical, and ethical leadership capabilities across financial domains.

Promote Continuous Professional Development and Global Competence

Encourage lifelong learning and adaptability through global accounting practices and cross-functional skills applicable across industries and geographies.

AC-1: Fundamentals of Corporate Accounting
AC-2: Different Accounting Concepts
AC-3: Role and Functions of Accountant in organization
AC-4: Recording and classifying business transactions

AC-1: Introduction to Budgeting
AC-2: Corporate Financial Planning
AC-3: Preparing & Managing Budgeting to Support Financial Plans
AC-4: Managing & Controlling Cash Flow to Support Financial Plans

AC-1: Preparation of Financial Statements
AC-2: Accrual and Prepayments
AC-3: Bad and Doubtful Debts
AC-4: Bank Reconciliations

AC-1: Introduction to Management Accounting
AC-2: Activity-Based Costing (ABC)
AC-3: Cost-Volume-Profit (CVP) Analysis
AC-4: Strategic Cost Management

AC-1: International Financial Reporting Standards (IFRS)
AC-2: Fair Value Accounting
AC-3: Financial Analysis and Planning
AC-4: Financial Reporting Ethics and Compliance

AC-1: Operating and Financial Leverage
AC-2: Foreign Exchange Rates
AC-3: Dividend-Policy & Decisions
AC-4: Investment Decision Rules

AC-1: Audit, Control & Compliance
AC-2: Introduction to Internal Audit
AC-3: Internal Control & Fraud Detection
AC-4: Audit Evidence & Documentation

AC-1: Introduction to Financial Risk Management
AC-2: Credit Risk Management
AC-3: Operational Risk Management
AC-4: Regulatory and Compliance Risk
  • 32 Practical Focus Applied Competency
  • 09 Reference Books
  • Post Completion:
    • Electronic Certificate
    • Printed Certificate Available
    • Printed Transcript  Available
Features:

Course overview:

  • Total Functional Domain: 08
  • Every Functional Domain has 04 Applied Competencies
  • Total Applied Competency: 32
  • Per Competency: 02 ECT
  • Capstone Project Work (CPW): 24
  • Total ECT: 4*2*8+24=88
  • Study Mode: Self-Paced Learning System (Online-Distance Learning)
  • Duration: 12 Months. 
  • Assignment: Each Unit has 01 (One) Final Assignment.
  • Research Project Work: One Research Project Work needs to be submitted.

Required Documents for Admission:

  • Education Certificates.
  • Latest CV/Resume.
  • Personal Statement (500 words).
  • Passport Copy.
  • Passport Size Photo (jpg. format).

Grading Systems:

Pass:

  • Higher Distinction: 90% and above
  • Distinction: 80 - 89%
  • Merit: 70 - 79%
  • Competent: 60% - 69%

Fail:

  • Unsatisfactory: Below 60%

Frequently Asked Questions

 

1. Who is this program designed for?

This program is ideal for finance managers, accountants, auditors, budget officers, financial controllers, analysts, and mid- to senior-level professionals aiming to strengthen their applied finance and accounting expertise and transition into strategic leadership roles.

2. Is this qualification internationally recognized?

Yes. The PMAFA is endorsed by NQual, a UK-based awarding body regulated by Ofqual (UK's Office of Qualifications and Examinations Regulation). This ensures high credibility, global recognition, and compliance with international quality standards.

3. What are the entry requirements?

Typically, applicants should have:

  • A bachelor’s degree/ Master’s (in Finance/Accounting) + 3 years’ experience in Finance & Accounting
  • A bachelor’s degree/ Master’s (in any subject) +  Diploma in Finance /Accounting from renowned institute (need to assess curriculum)+ 3 years’ experience in Finance & Accounting
  • A bachelor’s degree/ masters (in any discipline) + 10 years experience in Finance & Accounting
  • English proficiency sufficient for postgraduate-level study
    (Exceptions may be made for experienced professionals through RPL – Recognition of Prior Learning)

4. How is the program delivered?

The program is delivered in a flexible format to accommodate working professionals, including:

  • Self-paced, prerecorded video tutorial
  • Case studies, project-based assignments, and simulations
  • Self-paced learning materials and access to learning platform

5. How long does the program take to complete?

The standard duration is 12 months, depending on the learner pace.

6. Will I receive a certificate after completing the program?

Yes. Upon successful completion, you will receive a Professional Master’s in Applied Finance & Accounting, endorsed by NQual (UK), along with a transcript of achievement covering all competency domains.

7. Can this qualification help me advance my career?

Absolutely. PMAFA equips finance professionals with advanced technical and strategic skills, helping them transition into impactful leadership roles such as:

• Finance Manager
• Financial Controller
• Internal Auditor
• Strategic Business Partner – Finance
• Head of Finance & Accounting
• Budgeting & Planning Manager
• Compliance & Risk Lead

8. Are there assessments and assignments?

Yes. The program uses:

  • Competency-based assessments
  • Case studies and workplace projects
  • Reflective essays and final capstone project

9. Is this program equivalent to general masters program?

No, this is not equivalent to academic master’s program. This is a professional level qualification.

10. What is the level of this program and how many ECT?

This is UK Level-7 program and total 88 ECT.