ACCA Financial Accounting (FA)

The ACCA Financial Accounting (FA/FIA) course develops knowledge and understanding of the underlying principles and concepts of financial accounting and their practical application in maintaining financial records and preparing financial statements.

The paper covers the entire accounting cycle — from recording transactions, maintaining ledgers, and making adjustments, to preparing complete financial statements for both incorporated and unincorporated entities in accordance with IFRS.

By the end of this course, learners will have a strong foundation in financial reporting, enabling progression to higher-level ACCA papers such as FR and AA.

Who is this Course For?

• ACCA students preparing for the FA/FIA exam at Applied Knowledge level.
• Beginners in accounting who want to understand double-entry bookkeeping and preparation of financial statements.
• Professionals seeking to strengthen their understanding of accounting fundamentals.
• Business managers wanting insights into financial reporting for decision-making.
• Anyone aspiring to a career in accounting, auditing, or finance.

Curriculum

• Introduction to financial reporting
• The regulatory framework
• Double-entry bookkeeping
• Recording transactions and events
• Inventory
• Non-current assets: acquisition and depreciation
• Non-current assets: disposal and revaluation
• Intangible assets
• Accruals and prepayments
• Receivables
• Payables, provisions and contingent liabilities
• Capital structure and finance costs
• Reconciliations
• The trial balance, errors and suspense accounts
• Preparing basic financial statements
• Incomplete records
• Statement of cash flows
• Interpretation of financial statements
• Consolidated statement of financial position
• Consolidated statement of profit or loss and associates