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Financial Accounting (FA)


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Course content

Context & Purpose of financial reporting

Use of double-entry and accounting systems

Recording transactions and events

Preparing a trial balance

Preparing basic financial statements

Preparing simple consolidated financial statements

Interpretation of financial statements

About Course

The Fun One!

Did you join the ACCA program for the love of numbers? Well, the ACCA FA/FFA paper will satisfy your number churching cravings.

The FA/FFA paper starts off with a tricky boring but essential topic a.k.a the fundamentals of the regulatory framework relating to accounts preparation and to the qualitative characteristics of useful information. But don’t worry, it does not stay boring. Next you learn some more interesting concepts where you get to draft financials statements and lean about principles of accounts preparation.

concentrates in depth on recording, processing, and reporting business transactions and events.
covers the use of the trial balance and how to identify and correct errors, and then the preparation of financial statements for incorporated and unincorporated entities.

The syllabus then moves in two directions, firstly requiring candidates to be able to conduct a basic interpretation of financial statements; and secondly requiring the preparation of simple consolidated financial statements from the individual financial statements of group incorporated entities.

The Financial Accounting (FA) specimen exam indicates how the exam will be assessed, structured and the likely style and range of questions that could be asked. Any student preparing to take this exam should familiarize themselves with the exam style.

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What Will You Learn?

  • A Explain the context and purpose of financial reporting
  • B Define the qualitative characteristics of financial information
  • C Demonstrate the use of double-entry and accounting systems
  • D Record transactions and events
  • E Prepare a trial balance (including identifying and correcting errors)
  • F Prepare basic financial statements for incorporated and unincorporated entities.
  • G Prepare simple consolidated financial statements
  • H Interpretation of financial statements


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